Selling a Residential Property
We understand selling your property may be a stressful process. The following information may be helpful to consider to ensure a smooth transaction:
- If the Chattels and/or fixtures that you’ve sold to the buyer stop working after closing, you may be responsible depending on how the Agreement of Purchase and Sale is drafted
- You are responsible for the property until closing; you must maintain the property as when the buyers agreed to purchase it
- The buyers have a right to inspect or visit the property before the proposed closing date and if it is not in similar condition as when they initially saw it, it may lead to a delay in closing and extra costs
- If the buyer is unable to secure a mortgage by the proposed closing date and are unable to close the transaction, what are your alternatives?
- If you need the sale proceeds to purchase your new home and your buyer fails to close, what are your options?
- If the property you are selling has tenants, you may be required to have vacant possession on closing
- When vacating the property, there should not be any garbage or trash left behind; it must be given to the buyer in a good condition
- 2 pieces of Canadian Issued IDs
- Recent Tax Bill
- Survey (if applicable)
- Recent Mortgage Statement
- Any Security Interests (such as water heater, water softener, etc.) (if applicable)
- Status Certificate (if applicable)
- Your forwarding address
- Utilities
- Taxes
- Maintenance
- Condo fees (if applicable)
- Existing mortgage(s)
- Property tax arrears (if applicable)
- Common element fee arrears (if applicable)
- Real Estate Commission (if applicable)
- Water
- Hydro
- Gas
- Condo Corporation/ Property Management (if applicable)