When buying a new home, first visit a mortgage broker or banker to determine your budget. Then, you need to find a Realtor you trust and work with them to find your dream home.

The next step is to write an Offer to Purchase – always make your offer is subject to review of the Offer to Purchase and Real Property Report (RPR) by your lawyer, David Sheckter. To minimize moving costs, avoid the busiest possession dates the first, middle or end of the month.

After Your Offer is Accepted

After your offer has been accepted, make sure to do the following:

  • Work with your realtor to complete the property inspection
  • Have the seller’s realtor provide the RPR to your lawyer, David Sheckter
  • Confirm your financing arrangements with your mortgage broker/banker
  • Provide David’s contact information to your mortgage broker/banker
  • Review your RPR and Offer to Purchase with David
  • Remove conditions
  • Have your Realtor forward a copy of the accepted offer to David’s office
  • Confirm with your lender mortgage documents have been sent to David’s office
  • Arrange for Home Insurance for your new home – you will need this prior to closing!

The Meeting

Contact David Sheckter no less than 3 weeks prior to your possession date. You will need to arrange for an appointment approximately 7 days before possession date to sign and finalize your Offer to Purchase and mortgage documents. David will call you approximately 2 weeks before to your possession date to advise you of the balance of your down-payment (cash to close) and your closing costs.

When you meet David to complete your purchase, you will need:

  • 2 pieces of ID including AT LEAST 1 piece of government issued photo identification AND a credit card, birth certificate, SIN card or passport
  • VOID cheque or pre-authorized debit pad form stamped and signed by your bank
  • Proof of Home Insurance
  • Balance of your down-payment (cash to close) and closing costs

On your possession date, David will receive the funds from your lender in trust and will provide them, together with the down-payment to the seller’s lawyer. Your Realtor will receive the keys to your new home after 12 pm noon on your possession date.

Contact Masuch Law today to start the process!