The process buyers can expect AFTER their offer becomes a deal.

As a buyer you are running all over town and calling everyone around to help you get your subjects off your offer to Purchase your new home right? Right! Well after the subject conditions are all off it is your lawyer who takes things over from your Realtor and runs the show. Here is a breakdown on what you can expect the process to typically look like from the time your Realtor says "Congratulations the house is yours!" (this document was prepared by a good friend and lawyer...her info is below. Please feel free to contact Una if you have any questions of if you want to hire her...same goes for me and my info below should you need a Realtor;-)

Buying a new home is a very exciting (and sometimes stressful) experience.  This information sheet is intended to assist a purchaser in understanding the process of buying a home from the time you reach an agreement with the seller and the time that you receive title to your new home.

Generally, this is the process once you have reached a final agreement on the terms of your purchase;

Your realtor will send our office a copy of your contract and any addendums (if you are not using a realtor, we will need you to provide our office with these documents directly);

Our office will contact you once we have reviewed the contract (usually about two weeks prior to the Closing Date of your purchase) with some questions including:
basic details including full legal names, address, etc.;
who your property insurance will be through;
whether you qualify as a first time homebuyer for Property Transfer Tax purposes;
what you’re intending to use the property for;
whether you are getting a mortgage for your purchase and, if so, who your lender is;
whether you have a mortgage broker you are dealing with and, if so, their contact information; and
how you wish to hold title if there is more than one purchaser - i.e. as tenants in common or as joint tenants.  As joint tenants, your interest would automatically flow to the survivor in the event of your death without going through your estate.  As tenants in
common, your interest would flow through your estate resulting in the payment of probate fees on that value. There are a number of considerations to keep in mind in determining how you wish to hold title.  If you have any questions, please contact our office.

Our office will prepare all the necessary documents to complete the purchase and register the mortgage against your title (we have to wait to receive instructions from your lender before we can prepare the mortgage documents which can take some time).

Once all documents are prepared, we will contact you to arrange an appointment for you to sign documents.  This usually takes place a couple of days before your Closing Date. 

We will tell you how much money we will need from you to close based on the Statement of Adjustments.  You can provide our office with these funds either by bank draft or by a wire transfer (we can provide the details to you).  This amount will include legal fees, Property Transfer Tax, adjustments, title insurance and the balance required to complete your purchase. You do not necessarily have to provide funds to us when you come in to sign, but we will need to have the funds in our account at least one day prior to the Closing Date.

On the Closing Date, we will register the transfer of the property and your mortgage (if applicable) and provide the closing funds to the seller’s lawyer. 

Once the transaction is registered, we will let you and your realtor’s office know that the deal has completed and they will arrange for you to receive keys on the Possession Date.

Please do not hesitate to contact us if you have any questions.  We look forward to working with you.

Una Gabie, Lawyer
(250)869-1230 or gabie@pushormitchell.com


Kacy Renneberg, Paralegal
(250)869-1102 or renneberg@pushormitchell.com

TREVER FLORKO - Realtor
Century 21 Assurance Realty (Kelowna)
Cell: (250) 859-5990
Office: (250) 869-0101
Fax: (250) 869-0105
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Trever Florko

Trever Florko

Personal Real Estate Corporation
CENTURY 21 Assurance Realty Ltd.
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