Step 1 – Contact Law Booth ™ and provide:
Step 2 – Satisfy any outstanding conditions
An Agreement of Purchase and Sale may contain conditions that have to be satisfied within a specified time period. Ensure that these conditions are met and/or waived as required.
Step 3 – Arrange your mortgage
You should contact a lender directly or through a broker to obtain a mortgage to finance the property. In the event you are not obtaining a mortgage, ensure that your personal funds are available on the date of completion. If you need help finding a mortgage broker, please ask us.
Step 4 – Arrange Fire Insurance – DOES NOT APPLY TO CONDOS
You are responsible for arranging Fire Insurance that contains the lenders information as the mortgage company. We will require an “Insurance Binder” from you or your broker prior to the completion of the transaction. If you need help finding an insurance agent, please ask us.
Step 5 – Confirm new utility accounts
You must contact the utility companies to set up new accounts prior to the closing. If you already have utility accounts with the provider, ensure that they are transferred.
Step 6 – Document Execution
Depending on when we receive documentation from the bank and the other lawyer, we will draft all the paperwork for you to sign approximately one week before closing. At that time we will also advise you of the amount of money you need to bring to complete the transaction.
You will have to bring in the balance of money due on closing, if any, by certified cheque or bank draft payable to: “Law Booth Professional Corporation, IN TRUST”
When attending our office to sign any documentation you must bring with you two pieces of current identification. One must be a Canadian/Ontario government photo identification. (ie. Driver’s licence, Citizenship Card, Permanent Resident Card or Passport). The other can be a major credit card or SIN card.
Step 7 – Pick-up the Key
We endeavor to complete transactions as early as possible. A typical deal closes between 4:00 – 5:00 PM. We will contact you and inform you as soon as the closing is done so that you may pick up the keys.
Purchase price includes:
* Price does not include Government Registration fees, land transfer taxes, courier charges and applicable taxes
**As of April 1, 2016 the City of Toronto is charging an administration fee of $75.00 + HST on any transactions requiring a title transfer. If applicable, this fee would be in addition to the quoted fee.
Please note that these quotes are estimations only, and our fees are subject to variation depending on circumstances of each specific transaction.