Your unconditional offer

The Contract of Purchase and Sale that you signed will state the completion day for the transaction. On that day legal ownership will transfer from you to the new owner in exchange for the purchase price of the property. Once the contract is unconditional we will discuss further details with you.

Do you, as seller, need a lawyer or notary public to complete the sale?

While it is the normal practice for the buyers lawyer or notary to prepare the documents necessary to transfer the legal ownership, it is recommended that you, as seller, engage legal counsel to act solely on your behalf. Among other things, he or she will protect your interests by:

• Checking the documents prepared by the buyers lawyer and explaining them to you
• Ensuring that your old mortgage has been properly discharged if this is required
• Ensuring that you have no further obligation regarding your old mortgage if it is being assumed by the buyer
• Confirming that all payments for which you are responsible have been made
• Arranging for you to sign the transfer documents
• Preparing a statement for you outlining where all the purchase money was disbursed and giving you a cheque for the balance

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