July 20, 2024
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- ⦿ Consider making your Agreement of Purchase and Sale to buy your property conditional on getting a Home Inspection.rchase, such as purchase agreements, mortgage documents, and title documents
- ⦿ Consider making your Agreement of Purchase and Sale to buy your property conditional on getting Mortgage Financing. Make sure your mortgage company gives you written confirmation that you are approved for your mortgage financing before waiving your financing clause in the Agreement of Purchase and Sale.
- ⦿ Consider making your Agreement of Purchase and Sale conditional on getting Fire Insurance. This is an important consideration when buying older homes where there is knob and tube wiring. Most Insurance companies will not provide Insurance Coverage with knob and tube wiring.
- ⦿ If you are selling and buying, consider the following option: Ask your mortgage company if you can get a “Bridge Loan” in order to buy your new property first, then sell your current property. By doing this, you will have time to do renovations and repairs. This will also alleviate the need to sell then buy on the same day which can be stressful. Consult with your mortgage company to review this option.
When buying a property, it’s important to take steps to protect yourself financially and ensure a smooth transaction. Here are some tips to consider:
Once the Agreement has been signed and all conditions have been waived
- ⦿ Arrange House/Fire Insurance for the closing datenditional on getting a Home Inspection.rchase, such as purchase agreements, mortgage documents, and title documents
- ⦿ Contact the Utility companies prior to the closing date to set up new accounts for your new property
- ⦿ Enbridge
- ⦿ Alectra Utilities
- ⦿ Reliance Home Comfort or Enercare to set up a new account for water heater rental
Our office will send you the documents to sign electronically, saving you the need to visit our office. Once you review and sign the documents, a copy will be sent to you.
The key will be available for pick up at our office or in a lock box at the property. We will provide you with the code to access the key. Please note that we cannot guarantee a specific time for releasing the key due to various factors.
At Estofa Law, we offer a range of Real Estate Law services to assist you with your purchase in Burlington. Our services include:
- ⦿ Review of Agreement of Purchase & Sale
- ⦿ Residential Home Purchases
- ⦿ Condominium Purchases
- ⦿ Review of Condominium Status Certificates
- ⦿ Vacant lot purchases
- ⦿ Cottage purchases
- ⦿ Commercial real estate purchases
- ⦿ Commercial Lease agreements
- ⦿ Independent legal advice
- ⦿ Title search
- ⦿ Property taxes
- ⦿ Title insurance
- ⦿ Land transfer taxes
We are committed to guiding you through every step of the buying process, reducing stress and legal risk, and helping you save time and money when purchasing real estate. If you are looking to do a real estate transaction, look no further, real estate lawyer in Burlington will assist you and make the process smooth.
