Real Estate and Mortgage Transactions

If you have not already done so you  should ask your real estate agent to send us a copy of the accepted Offer to Purchase as well as all other relevant documents relating to your purchase or sale transaction including without limiting the generality of the foregoing any existing Building Location Certificate, Zoning Memorandum, and any condition removal documentation.  If you did not use an agent, please forward these documents directly to us.

IF YOU ARE PURCHASING A PROPERTY

If you have not already done so you should contact your insurance agent with a view to ensuring adequate fire and extended coverage is in effect as at the date of possession. In this regard coverage must be for the full insurable value and the policy must contain a standard mortgage clause and show loss payable firstly to your mortgage lender as mortgagee. Please instruct your agent to forward a certified copy of the policy to us prior to possession, if possible.  If the certified copy is not available by possession date, we will require a letter from your agent confirming details of coverage.  If you do not have an agent and wish us to arrange insurance on your behalf, please let us know immediately.

Please advise us if the Building Location Certificate which you received is up-to-date.  Notwithstanding the date shown on the Building Location Certificate, if there have been no changes to the configuration of the buildings on the subject property and there have been no additions (such as a garage, deck, swimming pool, etc.) the Building Location Certificate would be considered to be up-to-date.  If you did not receive a Building Location Certificate, or if the one received is not up-to-date, a new Building Location Certificate should be obtained prior to possession.  As it is necessary for us to ensure compliance with zoning regulations prior to possession, if a new Building Location Certificate is necessary, it should be ordered immediately. In the event that a new Building Location Certificate is required, please contact our office immediately so that the necessary arrangements can be made and so that we can discuss your mortgage lenders requirements, as title insurance might be an option available to you at a lower cost.

Please remember to take the utility meter readings on possession and call them into the various utilities.

 

IF YOU ARE SELLING A PROPERTY

We would ask that you kindly send us whatever of the following documents you have pertaining to the above property at your early convenience:

1. Copies of mortgages, if available, and names of mortgagee and address if any mortgages are registered against the property;

2. Building Location Certificate (Surveyor's Certificate) and Zoning Memorandum, if available.

We will proceed with your transaction  immediately and shall keep you informed of our progress.  If you have any questions whatsoever, please do not hesitate to contact us.

We would ask that you kindly contact us to arrange a time that is convenient for you to attend at our offices to execute the necessary Transfer documents, at your earliest convenience. Prior to the possession date, we will require a key to the house in order to be able to provide possession to the purchaser.  You may want to leave a key with us when you attend to execute the Transfer documents. We would impose trust conditions on the purchaser's lawyer to  ensure that no use was made of the key until the possession date.

Please do not give any keys to the premises directly to the purchaser. The exchange of keys should be coordinated through our office to avoid any unnecessary difficulties on closing.

We recommend that you advise your fire insurance agent that you have sold the property to the Purchaser (identify the purchaser by name to your agent) effective the possession date and that you would like your insurance coverage to remain in effect until you advise your insurance agent that you have received all of the proceeds from the sale.

When vacating the property please ensure that you take the utility meter readings and call them into the various utilities.

REFERRALS

Irrespective of what stage you are at in the process of  purchasing or selling real estate, I am available to assist my clients.  Our experience has shown that the purchase of a house is often times the single largest expenditure that a person will make.  As past clients can attest, I will be there to help you through the process.

I have over the past 20 years built a network of caring and extremely qualified professionals who would welcome the opportunity to be of service to you. I can suggest names to you in the following categories:

  • Mortgage Lenders and Mortgage Brokers
  • Real Estate Brokers and Agents
  • Insurance Agents
  • Home Inspectors
  • Structural Engineers
  • Moving and Storage Companies
  • Land Surveyors
  • Title Insurance Companies
  • Accountants

RETAINING OUR SERVICES

For purchases or sales of residential real estate, please provide us with as much information as possible, by submitting same to us by email.   If you would prefer to speak to us in person please contact us by telephone.  To retain our services for matters other than residential real estate, please contact Martin R. Gutnik directly by telephone or e-mail. Every effort is being made in our office to utilize the newest and best technology available to provide excellent client service at the most reasonable costs possible.

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