Pfanntastic Home Buyers Handbook Chapter 12
Last Days Before Your Move !!!
- A broad overview in buying your 1st. Home
- Location, is Everything
- Selecting a Realtor
- Preparing to View Homes
- Watching the Market
- Financing Options
- Finding A Lender
- Getting (Pre) Approved for a Mortgage
- Making and Offer
- Making an Offer in Different Conditions
- From Contract to Closing the Deal
- Working on the Subject to Financing Condition
- Working on the Subject to Home Inspection Condition
- Working on the Subject to Title Documentation Condition
- Working on the Subject to Seller Disclosure Documentation
- Working on Obtaining Property Insurance
- Working on Reviewing and Approving the Strata Documents
- Working on New Home Specifications and Building Contracts.
- When to Walk Away
- Congratulations, you are buying your New Home.
Please review the previous chapters for more details in our Pfanntastic Home Buyer Handbook Series, and or contact Peter of Linda Pfann.
Last Days, Before You Move......
Time is flying when your are getting ready to move....
Over the past weeks and days that we have shared your journey towards home ownerships, there may have been times that you may have thought, ....."is it all worth it" ....
Peter and Linda Pfann are convinced that homeownership is and can be the best possible way towards financial independence, sense of community and belonging, a perfect family "home", the start , the middle and the end of a Pfanntastic Life. It is not uncommon for home buyers to have some stress, 2nd. thoughts, eve a little buyers remorse, it is very understandable.
Over the next few days you will likely meet with your Lawyer or Notary Public, to review all the paperwork, the accounting and every detail of buying your home, one more time..... for most that day will feel like a Pfanntastic Day, and offer the opening of new and exciting opportunity.
Meeting with your Lawyer or Notary, will be one of the last formal reviews of the paperwork and typically takes place a few days prior to the completion date of your contract. It gives the lawyers (both yours and the sellers) the time and opportunity to make sure that all the details as they are supposed to be and that on the day of the ownership transfer there will not be any surprises.
During this meeting you will bring in your "down payment", your identification papers, in some cases the lawyers may ask you for a site survey and or proof of title insurance, as well as evidence of insurance for the property you are buying.
You will be reviewing and signing a whole bunch of papers, some of all of the following documents may be applicable dependent on the type of purchase;
- Mortgage documents
- transfer documents
- statement of adjustment
- representation documents
- application for transfer tax waiver
- possibly HST rebate forms
- Title insurance papers
- home warranty papers
- CMHC mortgage insurance papers
- Form F and possibly Form B for Strata properties
In Greater Victoria is is very uncommon for Realtors or Agents to attend the signing with the lawyers, but if needed Peter and Linda Pfann are more than prepared or willing if our clients request us to attend this meeting.As you can see, there might be a lot of paperwork to review and this may seem redundant, but is part of the process of ensuring that all the details have been covered and dealt with on your behalf.
Once all the papers have been dealt with the actual "completion process" happens mostly electronically by most lawyers, although the traditional manual transfer process at the land titles office in Victoria is still being used in some cases by "agents for the lawyers" who will on the day of transfer, receive and act on instructions from their respective lawyers and do the filing of papers by hand.....
Typically you will receive a call from your Lawyer and or from Peter or Linda Pfann, once the transfer of ownership has been registered, from that moment on you are the "real" owner of your own home......
As mentioned in an earlier chapter, we typically will have one day between the completion date and the possession date, and you will receive the keys as per the details of the contract unless the sellers, their lawyer and or their agent allows for the keys to be released early. (however we should point out that you should not rely on early key release).
Tomorrow will be a BIG Day.......Stay tuned and we will cover some of the typical events and activity to consider for your moving day, reminding you that you should have your packing done, your essentials box ready and all the essential people in your move on speed dial.
Enjoy your last day in your "old digs" to morrow you are moving on the your Pfanntastic New Home, Congratulations....
Peter and Linda Pfann are here to assist, guide and consult with you to ensure that your best interest are protected, please contact us with any and all questions or concerns so that we be able to avoid any nasty surprises for you.
As always, if you have any questions, concerns or would like to explore your options, be sure to Talk To Peter or Linda Pfann, we will ensure that our 25+ years of client focused results will benefit you. Visit our Website for additional resources www.pfanntastic.com