PRE-COMPLETION SUMMARY
Here’s what you can expect between the time the contract is accepted and subject-free and the time the transaction completes:
UPON ACCEPTANCE OF SUBJECT-FREE OFFER:
- Deposit cheque given to Buyer’s agent for deposit in trust account
- Buyer’s Agent delivers Contract of Purchase & Sale to Buyer & Seller's Agent
- Buyer & Seller choose lawyer/notary public to handle preparation of transfer and/or mortgage documents
- Royal LePage Westwin Conveyancing Department will forward fully-accepted Contract of Purchase & Sale to the lawyer/notary
- Seller to Cancel or Transfer to New Home (Effective Possesion Day)
- BC Hydro
(1-800-224-9376) - Fortis BC
(1-888-224-2710) - Shaw Cable (TV &/or High-Speed Internet)
- Telus (Phone &/or High-Speed Internet)
- District of Kamloops - Cancel any Utility Auto Debit Plan(s)
- BC Hydro
1 WEEK PRIOR TO COMPLETION:
- Make appointment with your chosen lawyer/notary to complete the required transfer and/or mortgage documents
- Lawyer/notary will advise the buyer of the exact amount of funds required for closing on a statement of adjustments (purchase price, adjustments, property transfer tax)
- Lawyer/notary will advise the seller of the net proceeds to be received on a statement of adjustments and how to obtain their excess deposit cheque (from the lawyer/notary or from my real estate office)
- At your appointment with your lawyer/notary, review the Statement of Adjustment to determine that you are receiving the correct amount of money
COMPLETION DAY:
- Transfer documents registered at Land Title office
- Respective lawyer/notary will call their clients to advise of registration number
- Royal LePage Sussex Conveyancing will be advised of registration number to evidence successful closing
- Excess deposit cheque will be issued to the sellers by the buyer’s real estate company or the buyer’s lawyer/notary (an amount equal to the amount of the buyer’s deposit less the realtor’s commission + GST). If issued by the buyer’s real estate company, this may take a few days to receive, depending on the company’s procedures
- Cheque for interest, if any, on the buyer’s term deposit will be issued to the buyer
POSSESSION DAY:
- Buyer will receive keys at noon, or at the time pre determined in the contract of purchase and sale, through their agent
- Seller will leave their extra keys, garage door remotes and any instructions and / or manuals on the kitchen counter