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Choose a lawyer or notary, and arrange for the signed offer to be delivered to him or her as soon as possible. Review the fees and disbursements, anticipated adjustments, property transfer tax and other closing costs. Depending on the province and the property, these items can total 2% of your purchase price - or more, for a newly built home. |
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If you made an offer conditional on financing or a home inspection, or you set any other conditions, make sure that those conditions are satisfied within the time frame set out in your offer. |
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Once your mortgage is approved, make sure that the mortgage commitment is sent to your lawyer or notary. |
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If you're currently living in a rental property, either cancel your lease or sublet the premises. |
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Arrange for Creditor Life and Disability Insurance on your mortgage. Designed to provide financial back-up during difficult times, it can pay your outstanding mortgage balance(s) in the event of death. It can also cover your regular mortgage payments should you become disabled. |
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Normally, your lawyer or notary contacts the water, hydro and gas companies to have the meters read on closing, new accounts set up in your name, and final bills sent to the seller. Double-check a few days before closing, just to be sure that this has been looked after. |
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Contact the telephone and cable TV companies as early as possible to arrange for your current service to be disconnected, and service in your new home to be set up. |
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Arrange for your move as far in advance as possible. Book a friend, truck or mover. And remember, packing will take more time than you think. |
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Send out your change of address notifications. And don't forget about notifying the provincial driver's license and motor vehicle department. Failing to do so could mean a fine. |
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Plan to meet your lawyer or notary a day or two before closing to review and sign all closing documents. Don't arrange this meeting on the actual closing day when many other things will need to be done. |
