Sale

Although, typically a sale of a house or property is less stressful than a purchase, the process still requires various steps in ensuring a successful transaction. To simplify the process, DKS Law provides the following information to advise on some of your needs, requirements as well as responsibilities.

Information required by your attorney

  1. Your mortgage holder, if any, including name, address, phone/fax numbers and loan reference number. Please advise us if you have a line of credit with any banking institution. In most cases, the line of credit is registered as a mortgage on title and will have to be discharged.
  2. Name(s), marital status and date of birth of each person on title.
  3. The residency, Canadian or otherwise of each person on title.
  4. Copy of your interim or final realty tax bill (for the present year), the amount you have paid to date for this year and how it was paid. Please note that if your taxes are being paid on a pre-authorized payment plan, it is your responsibility to cancel your plan effective as of the closing date. The cancellation must be made at least two (2) weeks prior to closing to ensure your next month’s payment will not be taken out of your account. If your taxes are paid through your mortgage, please contact your financial institution to find out the amount of taxes paid to the closing date of sale.
  5. Copy of your water and waste management bills, the amount you have paid for this year and how it was paid.
  6. If the property is a condominium, kindly inform us of the amount of monthly common expenses and confirm if they are paid to date. It is your responsibility to cancel your common expenses payment plan with the property management / Condominium Corporation.
  7. Your new address and contact information to be used after your sale closes.

Utilities

You are responsible to contact various utility companies such as Enbridge Gas, Hydro etc. to ensure accurate information is provided regarding final billing and forward address. Our team will notify the tax and water department of the sale upon completion.

Signing Legal Documents

Typically two (2) days prior to the closing date, you (and the other seller/s) will be asked to visit our office to sign closing documents. You will be required to provide at least one (1) photo ID (driver’s License, passport, citizenship card) along with another piece of ID, which may be one of the above listed or a major credit card. Please note – health cards are not an accepted form of identification in Ontario.

Keys

Please ensure to bring one (1) set of house keys upon signing of the legal documents. We will deliver such to the purchasers’ solicitor on closing. Please make arrangements to transfer the remainder of the keys, remote controls, etc. to the purchaser (frequently this is done by leaving the keys/remote controls on the kitchen counter).

Closing Day

Closing date registration ordinarily occurs between 2:00 p.m. and 5:00 p.m. Your funds cannot be released until registration is completed. Our team will notify you as soon as the transaction is registered and closed, at which time funds will be available for pick-up.

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