SELLING MY HOME....Part 3

This past year, we sold our home of 14 years and purchased another.  I am sharing my experience and the process from the point of view of Seller and REALTOR®

Once your closing date is set you're going to need to look after a bunch of details....I made a list.

Your utilities.  If you moving to a different municipality, you can get a letter from hydro outlining that your account was in good standing.  This will save you from having to pay a security deposit for your new accounts. 

Remember, some utilities require minimum 30 days to cancel an account if you are changing municipalities or changing providers like cogeco.

Banking information, government address change, driver's license, insurance company, points cards you might have, credit cards etc.

Any online accounts you have.  These are easy to forget because you just get an on-line bill so make a list and change everything,  and check it off as you make your changes.  You can start as soon as you have a firm date for moving.

Contact with your mortgage professional is important.  Make sure they have any documents necessary to fulfill the terms the lender has.  Most mortgage approvals are conditional on certain documents being provided and the sooner you have the information to your mortgage professional, the smoother the transaction will go.  Moving day comes fast and it is very stressful.  Anything you can do ahead of time with keep things running smoothly.

Contact your insurance agent.  Most insurance professionals visit the home you are purchasing to make sure you have adequate coverage.  A binder letter can usually be provided 30 days prior to moving.  Your lawyer will need proof of insurance for your lender.

Finally, contact with your lawyer prior to moving day is a good idea as well...you can discuss ahead of time some options for title insurance etc.  You can also have a discussion regarding costs to close your purchase or sale.  The lawyers fee itself is not what will surprise you...land transfer tax, if you are purchasing and you are not a first-time buyer, registering the mortgage or discharging, searches, tax adjustments etc.  Contact with your lawyers firm prior to moving day will prepare you for the costs involved.

Moving is stressful, but also very rewarding or people wouldn't be doing it over and over and I wouldn't be able to help with the process to so many great people.

Until next time,

Brenda Piech

 

 

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