Real Estate Purchase and Sale
For most of us, buying a residential property is the largest financial investment of our lives. The last step in the buying process is signing the purchase documents at Patricia’s office. As a result of constant changes in real estate law, the number of documents required to finalize your purchase are numerous. As your real estate notary, Patricia will ensure we fully review with you the purpose of each document and advise you as to what your obligations are by signing each document. Usually this meeting will take about an hour to go through all the documents thoroughly.
Buying a home is an exciting, but somewhat stressful process. If you’re buying or selling a home, Patricia and her team will give you peace of mind and help you focus on your personal details by taking care of all of the documents pertaining to your transaction. If you’re a first time home buyer or seller, or if this is your recreational property, or your third or fourth home, our advice and detailed service in our friendly atmosphere will make your transition simple and painless. We will help you understand the many aspects of completing a real estate transaction. We know buying or selling a property can be stressful and we are here to help. Don’t hesitate to contact our office with any questions.
In order to complete a real estate transaction, we will require the following documents:
- A copy of the Contract of Purchase and Sale
- Full legal names, occupations and contact information for all of the buyers involved
- Contact information for your realtor, lender, mortgage broker, and insurance agent (if applicable, contact information for the strata management company)
- If applicable, a surveyor’s certificate
- Your three pieces of identification, including a government-issued photo ID
- Copy of your strata form B certificate
You may want to use the Start a File section of our website.
Some of the steps involved include the following:
- To review the fully executed Contract of Purchase and Sale you or your realtor have provided to us;
- To search title to the property including common property of strata units;
- To discuss the charges and encumbrances on title, pull copies of the relevant charges and to review a copy of the Plan or Strata Plan as filed in the Land Title Office;
- To obtain and review property tax information for the property;
- To prepare your conveyance and mortgage documents as well as all ancillary documentation to complete the transaction;
- To meet with you to execute your documents;
- To tender documents to the seller’s legal representative on appropriate undertakings;
- To receive and disburse trust funds in accordance with the statement of adjustments;
- To attend to registration of the Form A Transfer, and Form B Mortgage and supporting documents at the appropriate Land Title Office;
- To provide your mortgage Lender with the documents to confirm they hold a valid financial charge on title.
- To ensure the seller’s mortgage is fully discharged and you hold a good and marketable title.
- As Notaries, we are required to confirm and keep a record of the identity of every individual on whose behalf we conduct a financial transaction. In order to comply with these obligations, we will review original identity documents and keep copies for a minimum of ten years. When you come in for your appointment, we will require that you bring in three pieces of valid identification. These include at least one piece of government issued picture identification such as your Provincial Driver’s License, Passport, or other government issued identification; such as a permanent resident card. In addition, a credit card and Health Care Card may be acceptable to meet our remaining identification requirements.
Call us today at 604.682.8988 to learn how we can help you simplify your next real estate transaction.