CONVEYANCE PROCESS
Once the Contract of Purchase and Sale has been signed and accepted by both the Buyer and Seller and all subjects have been removed, the following steps occur in the conveyance process:
• Both the Buyer and Seller provide their real estate agent with the name and telephone number of their lawyer/notary who will be representing them.
• Our office administrator forwards a letter of instruction, copy of the Contract of Purchase and Sale, Sales Report and all relevant Addenda to the Buyer’s lawyer.
• The Buyer’s lawyer will contact the Buyer when all documents have been prepared, to set up an appointment. This appointment usually takes place in the lawyer’s office several business days prior to closing. The Buyer will receive a Statement of Adjustments and be advised of any additional funds that may be required.
• On Closing Day, the Buyer’s lawyer will register all documents including the transfer of title and the mortgage, if applicable, at the Land Titles Office. Once the Buyer’s lawyer has confirmation of the registration of the documents, he will forward the funds due to the Seller’s lawyer.
• Once registration is complete, keys may be released to the Buyer on possession date.
• As the Buyer’s agent, I will deliver the keys to the Buyer on possession date.