A home comes in different types, including single family, condo/apartment, manufactured/mobile homes, leasehold, cooperative. No matter what type of home you purchase, the transfer of the ownership is a detailed process. It is important that your legal representative have experience dealing with the issues that can arise.
- We will contact you once we have received the Contract of Purchase and Sale from your realtor and/or Mortgage Instructions from your lender.
- We require the full legal names of all the buyers as well as information regarding the structure of ownership, ie. joint tenancy or tenancy in common. If you are unsure what is the best type for your situation call our office and speak to us directly to determine this.
- Part of the purchase process is preparation of the Statements of Adjustments. This document sets out the purchase price and all applicable adjustments, ie. property taxes, utilities, strata fees, rent, closing costs, etc.
- Property Transfer Tax is also part of the closing costs and is applicable to all property transactions in British Columbia unless there is an exemption, ie. First Time Home Buyer’s Exemption. Please advise us immediately if you are a first time home buyer and we can determine right away if you qualify for this exemption as there are some conditions.
- The mortgage documentation also requires some processing. As most lenders require either a site survey or title insurance, you will have to make a decision as to which of these best suits your circumstances. You may wish to contact us to discuss this issue. The lender will also require that they be named on your house insurance policy so we will need to know with what company you are placing this policy.
- We will meet about a week prior to the completion date to sign all the required documents.
- If your purchase has special circumstances such as the following you should contact us early in your transaction:
– Out of town at completion
– Right to Purchase (rent to own)
– Commercial property
– Any unique circumstance
YOU WILL NEED TO PROVIDE ACCEPTABLE PHOTO IDENTIFICATION TO PROCEED WITH YOUR TRANSACTION. CONTACT US IMMEDIATELY IF YOU DO NOT HAVE ONE OF THE FOLLOWING:
1. Current Drivers Licence bearing your full legal name;
2. Current BCID card bearing your full legal name;
3. Current Passport.
We also require a second piece of identification. We prefer your BC Care Card.
PLEASE BRING ALL ORIGINAL IDENTIFICATION FOR OUR MEETING.
Once you have accepted an offer on your property you should contact our Notary. If you are selling your property without the assistance of a realtor you should contact our Notary prior to acceptance to ensure that the terms presented to you are in your best interest.
When the transaction proceeds to completion our Notary will contact you to obtain all the information we need to clear the title, ie. your mortgage reference number. All persons named on the title would be required to attend for signatures. We would meet about a week prior to the completion date to sign all the required documents.
If your sale has special circumstances such as the following you should contact us early in your transaction:
– Non-resident of Canada
– Acting under Power of Attorney
– Commercial property
– Out of town at completion
– Any unique circumstance
YOU WILL NEED TO PROVIDE ACCEPTABLE PHOTO IDENTIFICATION TO PROCEED WITH YOUR TRANSACTION. CONTACT US IMMEDIATELY IF YOU DO NOT HAVE ONE OF THE FOLLOWING:
1. Current Drivers Licence bearing your full legal name;
2. Current BCID card bearing your full legal name;
3. Current Passport.
We also require a second piece of identification. We prefer your BC Care Card.
PLEASE BRING ALL ORIGINAL IDENTIFICATION FOR OUR MEETING.
The mortgage instructions need to be read very carefully to ascertain each detail on your particular transaction. If your property is solely owned and you have a spouse, either legal or common-law, that spouse will be required to sign paperwork consenting to the new mortgage and obtain independent legal advice prior to disbursement of funds.
On completion date your lender will provide the mortgage funds to our office. We will disburse those funds as instructed by you and the lender.
YOU WILL NEED TO PROVIDE ACCEPTABLE PHOTO IDENTIFICATION TO PROCEED WITH YOUR TRANSACTION. CONTACT US IMMEDIATELY IF YOU DO NOT HAVE ONE OF THE FOLLOWING:
1. Current Drivers Licence bearing your full legal name;
2. Current BCID card bearing your full legal name;
3. Current Passport.
We also require a second piece of identification. We prefer your BC Care Card.
PLEASE BRING ALL ORIGINAL IDENTIFICATION FOR OUR MEETING.
YOU WILL NEED TO PROVIDE ACCEPTABLE PHOTO IDENTIFICATION TO PROCEED WITH YOUR TRANSACTION. CONTACT US IMMEDIATELY IF YOU DO NOT HAVE ONE OF THE FOLLOWING:
1. Current Drivers Licence bearing your full legal name;
2. Current BCID card bearing your full legal name;
3. Current Passport.
We also require a second piece of identification. We prefer your BC Care Card.
PLEASE BRING ALL ORIGINAL IDENTIFICATION FOR OUR MEETING.