For Sellers
TIPS FOR A STRESS-FREE HOME SELLING EXPERIENCE
Working with the right team of real estate professionals is the first step – the right real estate agent and lawyer will give you all the information that you need and help you keep on top of the seemingly endless things on your to-do list. Your real estate agent will be your best resource during the initial stage of selling your home. Once you’ve received an offer, your lawyer will work with you and your agent until the offer is firm (that is, until all the conditions have been waived or fulfilled). Once the deal is firm, your lawyer will become your primary resource for help and information.
Start Packing Early
I’ve assisted hundreds of families sell their homes and the one comment I get consistently is that it always takes longer to pack than expected. Start packing early so that you have time to contact local charities in your area who will appreciate donations of clothing or furniture (the more you donate the less you have to move).
Pack and Move Everything
The standard Agreement of Purchase and Sale states that the seller will provide vacant possession on closing. This means that you cannot leave garbage, debris, furniture, etc., in the home or anywhere on the property – doing so is a violation of your Agreement.
The inclusion and Exclusions
Before you start packing make sure that you remember what items you agreed to include in the purchase price, and what items are excluded and make sure that you pack accordingly.
Mortgage Information
Your lawyer will need information about any mortgages or lines of credit that are registered against the property. Go through your paperwork and collect your mortgage number and the full name and address of your mortgage company. This should be provided to your lawyer no later than 2 weeks before closing.
Property Taxes
If you pay your property taxes by instalment (usually 4 times a year, depending on the municipality), your lawyer will need your most recent property tax bill. You should provide this information to your lawyer as soon as possible and no later than 2 weeks before closing.
Contact Your Utility Companies
Your lawyer should notify the Utility Companies of the change of ownership, however, utility companies will not close accounts or schedule meter readings on the instructions of a lawyer – the person whose name is on the account must make the phone call.
Contact your Insurance
Advise them of the sale and arrange for cancellation or transfer of your policy.
Arrange for the Oil Tank to be Filled
If your property is heated with oil, you must arrange and pay for a full tank of oil. Advise your lawyer of the name of your oil supplier, the size of your tank and the date that the tank will be filled.
Mail Forwarding
There seems to be an endless list of people and companies that need notice of your change in address. Consider having Canada Post automatically forward your mail for a period of time.
Contact /Information
Make sure that your lawyer has a way to contact you on the day of closing. Remember to charge your cell phone and keep it turned on. Also, make sure that your lawyer has your forwarding address so that your reporting package and copies of all documents can be sent to you after closing.
Keep In Touch With Your Lawyer
Keep your lawyer up to date on any change in your sale, such as a change in the closing date. Make sure that your lawyer has your current contact information so that you can be reached before and after closing.
Practice Your Signature
There is a lot of paperwork to sign. You will meet with your lawyer before closing to go over the closing documents. At that time, your lawyer will ask that you bring a key to the property (and reveal. your alarm code, if applicable).