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Property Conveyancing

Selling a Property

The conveyancer’s role in the sale process is;

  • check the contract, Form 1 and searches and advise the vendor of any anomalies
  • check with the real estate agent the amount of their commission and any other charges
  • prepare a settlement adjustment statement calculating the adjustment of rates and taxes and advise the amount due to the vendor at settlement
  • prepare a settlement adjustment statement calculating the adjustment of rates and taxes, advising the vendor of the balance due
  • liaise with the financial institution in regard to the discharge of  the mortgage and payout of any loans
  • arrange for the vendors to execute the purchaser’s LTO transfer document
  • coordinate the settlement transaction and attend the Lands Titles Office
  • deposit any proceeds of sale into the vendor’s bank accounts
  • notify all government agencies of the change of address

The major costs associated with the sale process are;

  • real estate agent commission and expenses
  • conveyancing fees
  • search costs and disbursements
  • adjustments of rates and taxes
  • financial institution loan payout fees and charges

Real Estate Agent

You may choose to sell your property through a professional real estate agent.

The agent will ask you to sign an agency agreement and you must often agree to pay for out-of-pocket expenses such as advertising, signage, searches etc.