Phew! Negotiations are over, and the finish line is in sight! With a signed purchase agreement in hand, you can now step back and take a deep breath. Although the journey isn’t quite over yet, this is where your REALTOR will coordinate and manage the details of the next phase to ensure things run smoothly and close on time! During this time, you will need to focus on preparing for your big move!
Conditions & Conveyancing
Your REALTOR will ensure that inspections are completed, financing is approved and in place and other conditions are waived on time according to the purchase agreement. Once all conditions are waived the sale is considered firm and the conveyancing will be completed and sent off to both the sellers and buyers lawyer. Ensuring that each of these steps is completed is imperative to the agreement. At any point, if a condition date needs to be extended or a term needs to be renegotiated your REALTOR will work closely with you and the buyer’s agent to make sure that the contract stays in force and moves forward.
With the closing day approaching, you will meet with your lawyer to sign the legal documents required to complete the transaction. Once this is done your final responsibility will be to turn over the keys to a vacant and clean property on possession day. By 12 pm on possession day, barring any hiccups, the title to the property will transfer to the buyer, monies will transfer to your financial institution and your sale will officially close. It is time to congratulate yourself - you did it!
