If you are like many lucky Nova Scotians buying or selling a home, you are working with a great team of professionals who will help you through the process. Your mortgage broker, real estate agent and lawyer will all help make the process as smooth as possible. There are a few things that you will need to do as well.
Unless absolutely necessary plan to move in the day AFTER the closing date. The occasional minor snag can hold a closing up until late in the day, or even the next morning. It is better to be safe than sorry.
Arrange for utilities like power etc. to be changed and set up in your name the day after closing.
Be sure to complete applications to take over leases. (eg. propane, natural gas)
Talk to your broker about where your down payment is coming from. There are different rules for different sources. It is always better to know the criteria in advance.
Home insurance: If you are getting a mortgage you will almost always have to provide your lender with a "binder letter" (via your lawyer) for home insurance prior to the closing date.
· Ensure your property taxes are paid and up to date or expect them to be paid with your sale proceeds
Provide your lawyer with account information to enable your buyer to assume leases for equipment.
Pump your septic tank if it has not been done in the last year. Provide a receipt for the septic pump, regardless of whether you have just done it for closing or if it was done a little while ago.
Arrange to have your oil tank topped up a day or two before closing and send the receipt to your lawyer.
Arrange for a professional cleaner to clean the house prior to closing or do a VERY thorough clean of your home yourself. It is always helpful for your lawyer to have any cleaning receipt as well.
Whether you are buying or selling it is important to provide your professionals with everything they ask for in a timely manner. We want to help make your transaction as smooth and stress-free as possible, but we do need your help to do that.
If you have any questions about what to do before closing day, we'd be happy to help. You can call us at (902) 826-3070 or email us at firstname.lastname@example.org to set up a meeting with one of our lawyers at our Tantallon law firm. You can also schedule a no commitment Issue Review Consult for $100+HST where you have the opportunity to explain your situation to a lawyer and get basic advice before deciding whether or not you'd like to retain us.
By Briana O’Grady, Associate Lawyer
The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Nothing contained on this blog is legal advice or constitutes a legal opinion. While it is our goal to provide information which is current, legislative changes and court decisions, among other matters, may result in some information no longer being current or accurate. You should consult a lawyer before relying on any information. The views expressed herein by individual contributing lawyers posting entries to the blog are solely those of the authors and should not necessarily be attributed to or considered representative of the firm of Highlander Law Group Lawyers.