HOME BUYING CLOSING CHECKLIST 

The following immediate action is required for your smooth home closing:

v  Immediately begin satisfying any conditions of the Sale Agreement that require action on your part. Your REALTOR® will fill out the documents stating that the conditions have been satisfied.

v  As soon as conditions are met. Have your lawyer begin searching title to the property. This can take a while, so make sure you give ample time.

v  I recommend a Home Inspection before the deal is firm to avoid any unpleasant surprises on move-in day or after moving.

v  Well before closing get your homeowner's insurance and fire insurance done. Your insurance broker will give you and your lawyer a ‘binder' letter certifying that your house is covered under home and fire insurance. Bank wants to see the home insurance & Title Insurance before closing. In order to avoid any complication get your home insurance done at least one day prior to closing otherwise bank will not release the funds.

v  Your Lender or Mortgage Broker may requrire some Additional Documents from you in order to approve your mortgage. Contact your Lender or Mortgage Broker and have them finalize your mortgage approval documents.  Have your lawyer review them before you sign.

v  Your lawyer will transfer essential utilities like hydro and water, but you'll have to make sure telephone and cable companies switch their services to your name.

v  If you rent, you must give notice to your landlord, or sublease your apartment.

v  Begin planning your big Move! Where are those cardboard boxes? Book your moving service early to avoid scheduling problems.

v  Send out your Change of Address information and fill out a card online or at the Post Office.

v  Contact Ministry of Transportation about changing your driver's licenses address or do it online using the link.

v   Notify about change of address or update online to all related instutations i.e, Banks, Credit Card Companies, Utility Departments, Fire Alarm and Security Company, Hot Water Tank Rental Company etc.

v  A day or two before closing, you'll meet with your lawyer to sign the closing documents.

v  Your lawyer will notify in advance and provide you statement of adjustment stating that balance amount payable by you including down payment and closing cost. However, you are required to make a certified cheques or Demand Dreaft/Money Order to your lawyer before closing date in order to close the deal.