I often get asked about what happens after the conditions are lifted and the Agreements are off to the Lawyers...from that point on, usually one week after the signing of the documents, the Buyer's lawyer busies themselves with searching the title for any glitches and the Seller's Lawyer prepares the transfers, gets ready to pay out any existing mortgages, leans or deal with any encumbrances. The Realtor is out of the loop usually except for visits by the Buyer to the property for measurements and if problems arise at the lawyers office they may well not be aware of them, so try to keep them informed.
It is important that the Buyer and Seller keep in contact with the Lawyer's office and that the Lawyer's secretary have all the client's phone numbers and emails etc. I wrote two posts previously that explain the costs for both the Buyer and the Seller and they are noted below. Bosley Real Estate Ltd. has a great checklist that you should keep at hand as you move towards closing.
The Big Secret of Moving Day:
It will be the worst day of your life! If you plan that when things go right you will be thrilled and when they go wrong you will not be terribly surprised. Normally however, it will be the latter of the two. A couple of hints from my own experience...the Moving company will usually only insure what they pack....the shorter the move the more difficult it will be...if it looks to be an easy move: you are fooling yourself...never depend on friends: hire professionals...
Toronto Real Estate: Closing Costs for Sellers!
Toronto Real Estate: Closing Costs For Buyers!
Reposted from: The Big Secret of Moving Day...