CONGRATULATIONS!

Wondering what comes next? While the hard part is over, there are still some details that need to be taken care of before you hand over your keys and take possession of your new home. Over the next few days, you’ll have several logistical tasks to take care of. These include finalizing the financial details, transferring utilities, and organizing the logistics of your move. (Don’t worry — we’re still here to help!) 

1


Get a Lawyer: If you don’t have a lawyer, it’s time to get one! Choose a lawyer that specializes in real estate. Review all the fees and disbursements, land transfer tax, mortgage deductions, adjustments and other closing costs with your lawyer.

2


Paperwork: We’ll deliver the executed agreement of purchase and sale, plus a copy of your MLS listing to your real estate lawyer and bank or mortgage broker. You should give your lawyer a call as soon as the sale is finalized to confirm that they have received everything they need.

3


Repairs, Rentals & Retrievals: Make sure to complete any repairs you have committed to making before moving day. Return or retrieve any borrowed, rented or checked out items.

4


Moving Companies: If you need professional movers, book them early. (You can ask Andrew for recommendations if you don’t know which companies are reputable!)

5


Packing: Arrange for your moving help as early as possible. If you are doing the packing yourself, get more boxes than you think you’ll need and plan for extra time.

6


Utilities: Contact all of your utility companies (water, hydro, gas, internet, cable, and any other address- specific utilities) and inform them of your moving date. Water, hydro and gas departments will need to have the meters read on the closing date to provide accurate bills. This is also an excellent time to set up the utilities for your new home. Verify that this has been done five business days before your closing date.

7


Change of Address: Obtain the change of address forms from the post office. For a small charge, you can also arrange to reroute your mail to your new home.

8


School Transfer: If your kids are changing schools, contact their new school to confirm their enrollment. Make sure their old school transfers all school records.

9


Elevator Reservations: If you are moving into a building where an elevator is required, contact the building’s superintendent to reserve its use. The times an elevator can be used for moving are often restricted, and security deposits are generally required.

10


Health Care & Drivers License: Ensure you update the address on both your Health Card and Drivers and License.

11


Binder Letter: Ask your insurance agent to draw up a “binder letter” before your closing date. This letter should contain the name of the insurance company, the amount of coverage and the expiration date of the policy, and the name of any lenders in the loss payable clause. You should obtain coverage for the full insurable value of your new home only (i.e., not the land) on a replacement cost basis. Binder letter should be submitted to your lawyer prior to closing.

12


Condos: If you’re moving into a condominium, verify with the condo’s management office that your monthly condo fee account has been set up. Request a copy of your condo documents from your lawyer and read the rules, regulations and bylaws governing you and other condominium residents. This should be completed well in advance of your closing date.

13


Closing: Arrange to review and sign all closing documents with your lawyer a few days before your house closes. The necessary closing funds will also be due at this meeting. The funds should be certified or bank draft and made payable to your Lawyer (in trust). Be sure to clarify with your lawyer what payments will be due shortly after closing — these might include mortgage payments, property taxes and condominium maintenance fees.




1

Get a Lawyer: If you don’t have a lawyer, it’s time to get one! Choose a lawyer that specializes in real estate. Review all the fees and disbursements, land transfer tax, mortgage deductions, adjustments and other closing costs with your lawyer.

2

Paperwork: We’ll deliver the executed agreement of purchase and sale, plus a copy of your MLS listing to your real estate lawyer and bank or mortgage broker. You should give your lawyer a call as soon as the sale is finalized to confirm that they have received everything they need.

3

Repairs, Rentals & Retrievals: Make sure to complete any repairs you have committed to making before moving day. Return or retrieve any borrowed, rented or checked out items.

4

Moving Companies: If you need professional movers, book them early. (You can ask Andrew for recommendations if you don’t know which companies are reputable!)

5

Packing: Arrange for your moving help as early as possible. If you are doing the packing yourself, get more boxes than you think you’ll need and plan for extra time.

6

Utilities: Contact all of your utility companies (water, hydro, gas, internet, cable, and any other address- specific utilities) and inform them of your moving date. Water, hydro and gas departments will need to have the meters read on the closing date to provide accurate bills. This is also an excellent time to set up the utilities for your new home. Verify that this has been done five business days before your closing date.

7

Change of Address: Obtain the change of address forms from the post office. For a small charge, you can also arrange to reroute your mail to your new home.

8

School Transfer: If your kids are changing schools, contact their new school to confirm their enrollment. Make sure their old school transfers all school records.

9

Elevator Reservations: If you are moving into a building where an elevator is required, contact the building’s superintendent to reserve its use. The times an elevator can be used for moving are often restricted, and security deposits are generally required.

10

Health Care & Drivers License: Ensure you update the address on both your Health Card and Drivers and License.

11

Binder Letter: Ask your insurance agent to draw up a “binder letter” before your closing date. This letter should contain the name of the insurance company, the amount of coverage and the expiration date of the policy, and the name of any lenders in the loss payable clause. You should obtain coverage for the full insurable value of your new home only (i.e., not the land) on a replacement cost basis. Binder letter should be submitted to your lawyer prior to closing.

12

Condos: If you’re moving into a condominium, verify with the condo’s management office that your monthly condo fee account has been set up. Request a copy of your condo documents from your lawyer and read the rules, regulations and bylaws governing you and other condominium residents. This should be completed well in advance of your closing date.

13

Closing: Arrange to review and sign all closing documents with your lawyer a few days before your house closes. The necessary closing funds will also be due at this meeting. The funds should be certified or bank draft and made payable to your Lawyer (in trust). Be sure to clarify with your lawyer what payments will be due shortly after closing — these might include mortgage payments, property taxes and condominium maintenance fees.


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