After You Sellafter you sell
Sold! Congratulations. Now before you go off fantasizing about how to spend the newfound fortune earned from selling your home, you’ve got a couple things left to do.
1. visits from the new people
The offer probably allowed the buyer a couple of access visits to the property, to potentially take contractors and family through, and to check the home right before closing day to see that everything is still in good condition. Kevin Price, the myArea.ca team’s Client Experience Manager, will organize these visits and make sure that they’re convenient for you.
2. moving day
There are some advantages to using professional movers. First, you won’t owe your friends a huge favour, and second, true professionals will do a professional job. But not all movers are created equal. Some get the job done with a great deal of care, and others just get the job done. Check our links page for some good Toronto and nationwide movers.
One more thing. If you’re moving into a condominium, you need to book the elevator. Neither your friends, nor a professional company will stick it out if they’re hauling your stuff up 17 flights of stairs.
3. utilities and changing your address
You’re nearly done, but there are a few other details left to consider, like making sure your utilities are paid up to the closing date, and that the account is transferred to the new owners. Usually you can do this without turning off the utilities. You can also do this online. Next, you need to change your address with Canada Post. You can also do this online and we will give you the links.
4. check in with the mortgage broker
If you’re selling a house, you’re likely buying one too. So be sure to check in with your mortgage broker. You need to go over the papers and sign them. Be sure that your broker takes you through the agreement and that you’re comfortable with everything.
5. check in with your lawyer
Your lawyer will have you sign a few things to officially transfer the property over to the buyer and, potentially, to officially pay for the property you’re buying. Our buyer’s guide has all the details on this step.
On occasion, you, the seller, have paid the utilities, maintenance fees and/or property taxes beyond closing, and you are owed some money from the buyer. Also, if you’re in the process of buying, you’ll need to pay the Land Transfer Tax. Taxes are never fun, but usually unavoidable.
Not to worry, this whole tax thing will be clearly explained by your lawyer.
6. closing day
It’s finally arrived. And while you may be feeling a bit sad to be leaving the home you’ve known and loved, your lawyer and the buyer’s lawyer are officially transferring ownership over to the buyer. Once this is done, your lawyer will pick up the keys from you, and arrange the exchange with the buyer’s lawyer. We’ll make this day as easy as possible on you. Tears, laughter, and champagne - we’ve seen it all, so we can help.
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