Here’s what you can expect between the time the contract is accepted and subject-free and the time the transaction completes:
Upon Acceptance of Subject-Free Offer
- Deposit cheque given to Buyer’s agent by the buyer for deposit in trust account
- Buyer’s Agent delivers Contract of Purchase & Sale to Buyer & Seller’s Agent
- Royal LePage Sussex Conveyancing Department will forward fully-accepted Contract of Purchase & Sale to the lawyer/notary
- Seller to Cancel or Transfer to New Home (Effective Possession Day)
- BC Hydro – Resource link
- Fortis BC – Resource link
- Security, Cable, Internet, Phone (if applicable)
- District of West Vancouver – Cancel any Utility Auto Debit Plan(s) –
Resource link
2 Weeks Prior to Completion
- Make appointment with your chosen lawyer/notary to complete the required transfer and/or mortgage documents
- Lawyer/notary will advise the buyer of the exact amount of funds required for closing on a statement of adjustments (purchase price, adjustments, property transfer tax)
- Lawyer/notary will advise the seller of the net proceeds to be received on a statement of adjustments and how to obtain their excess deposit cheque (from the lawyer/notary or from my real estate office)
- At your appointment with your lawyer/notary, review the Statement of Adjustment to determine that you are receiving the correct amount of money
Completion Day
- Transfer documents registered at Land Title office
- Respective lawyer/notary will call their clients to advise of registration number
- Royal LePage Sussex Conveyancing will be advised of registration number to evidence successful closing
- Lawyer / Notary prepares payment of net proceeds for seller and confirms when seller will receive their funds
Possession Day
- Buyer will receive keys through their agent