Lending and Paperwork. If you still have a mortgage on your home, you should check in with your lender to get the details on any financial penalty you may incur for closing the mortgage early.

Mortgage Penalty Calculator

In some cases, your lender may allow you to transfer your mortgage to your new property.


Your Realtor may be presented with a number of documents related to selling your home. These documents can include:

  • The Multiple Listing Contract formalizes the relationship between you and your Realtor and authorizes them to market your property and represent you in the sale of your home.
  • The Property Disclosure Statement (for non-strata properties) is a document that itemizes all relevant information about the property. To avoid liability it is important to disclose any issues such as whether there’s asbestos insulation, an unauthorized rental suite, moisture problems in the basement or if there’s an underground oil storage tank.
  • If your home is a condo or townhouse, your Strata Property Disclosure Statement (for strata properties) includes parking and storage allocations, special assessments and any information about pet or age restrictions and problems with the building’s envelope.
  • While the Property Disclosure Statement isn’t a legally-binding warranty of your home’s condition, you can be liable for damages if you misrepresent the condition of your property or conceal problems. This document will not form part of the contract unless agreed by both the buyer and seller.
  • The Disclosure of Representation in Trading Services and the Privacy Notice and Consent forms explain the relationship between realtor and consumer while outlining the fiduciary duties that you are owed as a client.
  • FINTRAC is a government agency that keeps an eye out for money laundering or financing of terrorist activity whenever there is a large financial transaction. Since selling your home is a large financial transaction, your Realtor will require a copy of your photo ID as well as your occupation. The information will be kept on file in case the sale triggers a review by FINTRAC.

Get The Complete Guide To Selling A Home!