Final Steps in the Buying Process
So you're happy with the property and the way in which the complex is operated. Furthermore, your Financial Institution has given you the green light to buy.
Congratulations! You can now buy the property. Written into the body of your Contract of Purchase and Sale is a clause pertaining to the deposit which the Buyer must pay once conditions are removed. This deposit typically represents 5% of the purchase price. Once you have agreed to remove conditions in writing, and this deposit has been paid into trust, the property is considered SOLD.
To the Lawyer or Notary You Go
Upon the removal of all conditions, we will send the Contract of Purchases and Sale to your Notary or Lawyer for conveyancing. Prior to the completion you will be advised by your legal representative to visit and sign the documents necessary to a successful sale. It is your Notary or Lawyer who will be in contact with your Financial Institution, Strata Management company and Property Tax authority. On the completion date the property is transferred from the Seller to you at which time the funds are then transferred from your Lawyer or Notary to the Seller's legal representative. You are now the Owner!
This is the day you have been waiting for! Keys are exchanged and we will meet at your new property to inspect the home together for included items and any outstanding issues.
The whole process is often not without it’s stresses but remember that, as your Agent, we will there to represent you every step of the way! If you're ready to start the process of finding your new home, get in touch with me today.