Our detailed preparation at Duensing Law makes a difference on closing day. As your Toronto real estate lawyer, we guide you through every signature, wire, and key exchange so the finish line feels smooth, not stressful. It is part of our role to be able to foresee problems, whether you are buying your first condo, upsizing to a freehold, or selling an investment property.
Government-Issued Identification
You will be required to bring two documents of identification. It needs to be a photo ID issued by the government, such as a driver’s licence or passport. The second will be a credit card or a SIN card (no photos will be required, as long as it is provided by a reputable institution). As your Toronto real estate lawyer, we are required to verify your identity for compliance and to prevent fraud. Do not bring duplicates, but the original, and verify names with agreement of purchase and sale and mortgage instructions.
The Down Payment Balance and Closing Funds
The mortgage money will be advanced to our trust account on the day of closing, but you have to provide the rest. We will issue a final Statement of Adjustments that lists the exact amount of money you must bring, which will generally consist of land transfer tax, legal fees and title insurance, property tax adjustments and any condo prorations. Please make a bank draft or certified cheque, as we have asked you to do in our pre-closing email. Should you want a wire, we would like to be informed in advance so that we can clear the timing and reference details. As your Toronto real estate lawyer, we double-check every figure to avoid last-minute shortfalls.
Proof of Home Insurance
When it comes to most lenders, the mortgage needs to appear correctly in an insurance binder within the closing date. In the case of condos, the policy of contents and liability of your units is still relevant despite the corporation insuring the building. Send your binder to us at least one business day prior to closing so that we can meet lender requirements. Even when paying in cash, the insurance will still play a very important role in covering your investment, even at the very beginning.
Mortgage and Lender Conditions
Your loan provider will provide instructions, including special terms, retentions or checks. Also, you are expected to present any pending documents as requested by the lender, e.g., employment letters, pay stubs, or evidence of down payment ,before your signing appointment. As your Toronto real estate lawyer, we confirm interest adjustments, prepayment terms, and registration particulars so the mortgage funds are released on time.
For Condominium Purchases: Status Certificate Review
In the case of a condo that you are buying, we will have checked the status certificate and the disclosure package to confirm their financial health, the adequate status of the reserve fund, special assessments, litigation, and by-laws. Bring any questions you have regarding pet regulations, temporary houses, locker and parking assignments or new capital development. We will discuss the implications in detail as far as the practical value of your ownership and resale strategy is concerned.
For Sellers: Keys, Discharge of Mortgage, and Final Readings
Bring all keys, fobs, remotes, codes, and your forwarding address. We manage the settlement of your mortgage and verify the statements of payout with your lender. You need to provide us with your property tax account number and utility information to enable you to request the final metre reading and close accounts neatly. As your Toronto Real Estate Lawyer, we ensure clear title transfers to the buyer and that you receive your sale proceeds promptly.
Title Insurance and Registration Readiness
Title insurance is a one-time premium that protects you against title defects, unpaid lien, fraud, surveys, and in some cases, non-compliance with zoning. We will clarify the coverage prior to registration and answer any questions you might have. We perform final title and writ searches on closing day, prepare transfer and mortgage documents and communicate with the other lawyer to register the title via the electronic land registry system.
Remote Signing, Verification, and Wire Safety
We also provide remote closures using secure video validation and extrapolated document portals. In the case of a remote closing, make sure you have your IDs in front of the camera or webcam and lighting is not obstructed. As your Toronto Real Estate Lawyer, we provide wire instructions securely and confirm receipt once the funds arrive.
The best closings are achieved as a result of very early planning, sharp communication, and checking. When you work with a Toronto real estate lawyer at Duensing Law, you get proactive timelines, clear fund estimates, and legal advice for your property. Bring your IDs, closing money, insurance binder and whatever you have in the way of lender papers and most importantly, any questions you may have. We will do the rest and open the door to your new chapter.
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