By: Jayson Schwarz LLM
Lawyers have a tendency to forget that people do not know what to expect as they move closer to their closing so I hope this helps.
All the delays are over and your builder has sent a letter to your lawyer and/or yourself that closing of your new house will occur in a month and the date is firm. By now your lawyer has sent letters to water, hydro, gas or oil, building and tax departments. Apart from requesting amounts, clearances and compliances these letters have advised the appropriate group that you are soon to be the new owner. You however should be advising in writing the various departments mentioned, of your name, new address, phone number as soon as you move in. There are plenty of books and manuals published on this topic and I suggest you check around, but as a short and certainly not comprehensive list at a minimum you have the following: Hydro, Water, Gas or Oil, Phone, Cable, and Tax Department. Set up your account and learn who to call in an emergency or when you need service; identify your closest police and fire departments and hospital.
Subject to when he receives the adjustments from the vendor your lawyer should call you anywhere from 2 days to a week before the closing and provide you the exact figures you need to close the deal. Remember generally all cheques need to be certified as they go through our Trust Accounts. Just before the closing you will do your Tarion inspection.
All right, inspection done, it’s closing day and what happens? Your lawyer delivers the certified cheques to the Vendor’s lawyer and then both lawyers sign off on the documents through the Government of Ontario’s electronic registry system. All documents are registered and you own the house! What about the keys? – Keys are either handed over at the site or your lawyer will have them. Your lawyer should phone you with this information.
Now what? Move in and enjoy and sometime in the next 60 days your lawyer should provide you with his report with all your documents and his final account.
Condominiums are a little different because usually there are 2 closings. The interim occupancy and final. The difference is simply when you get possession the first time you do not own the unit until the final closing and registration of documents. In addition you need to determine what is included in your monthly maintenance fees and what you pay for directly. Speak to your lawyer to resolve those issues and then once you know all of the same things listed above apply and remember only a lawyer can give legal advice.
Good luck and happy home hunting!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.