CHECKING IN WITH YOUR LENDER

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.

PAPERWORK WHEN SELLING YOUR HOME

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!

WHAT OUR CLIENTS ARE SAYING

“Thank you so very much for helping us purchase our first home! We truly appreciate your hard work and honesty. Looking forward to finding our next home with you next time”
John & Taneem
“Thank you so very much for helping us purchase our first home! We truly appreciate your hard work and honesty. Looking forward to finding our next home with you next time”
Jinsil & Zubin
“Thanks for all your hard work James. You’ve been very patient with us, and we had a much better experience with you than our previous realtor. Keep doing what you’re doing…”
Jen
“Wow! What an amazing Realtor you are. Phenomenal in both selling and purchasing of homes this year for our family. You are laid back and efficient at your job and with your clients. It has been a great experience to have worked with you. I will recommend you to all our friends and you will be our Realtor for life!”
Nadine & Princeton
“We want to send you a heartfelt thanks for everything you did for us during the whole process of selling our home. It was a stressful time for us but you made the process so much easier. We very much appreciate the extra time you put into easing our concerns.”
Brett & Paige
“Thank you so much for your excellent job in selling my Dad’s property in Renaissance Square. The sale was quick, efficient and well communicated to all involved and we were happy with the selling price. Additionally, your thoughtfulness helped immensely to ease any concerns of my Dad, myself and my brother. Your additional help in identifying service and tradespeople to help with the process was also greatly appreciated. I would have no hesitation in referring you to friends and family.”
Claudia
“We always felt we were in great hands and that you always maintained all of our interests as a top priority. It was a pleasure to see your professionalism and thoughtfulness combined. It was really appreciated.”
Stephen Loyd
“We absolutely love our place!. Often, we can’t believe we live here… We recommend you every time a friend is looking for a Realtor and will continue to do so. We really appreciated everything you did for us and for making the whole affair rather painless.”
Shawna & Scot
“…you’ve been so informative and made us all feel as if you really wanted to help us acheive our goal. Thanks again, you’re very good at what you do. Keep in touch…”
Sherin
“… thank you for talking with me on all the questions I raised. We appreciate your professional, dedicated as well as personable service…”
Francis
“We would like to let you know how much we appreciated the great job you did for us in selling our condo. You’re a very nice guy. Hope to do business with you in the future…”
Evelyn & Roger