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The Contract of Purchase and Sale that
you signed will state the completion day for the transaction.
On that day legal ownership will transfer from you to
the new owner in exchange for the purchase price of
the property. Once the contract is unconditional we
will discuss further details with you.
While it is the normal practice for the
buyer’s lawyer or notary to prepare the documents necessary
to transfer the legal ownership, it is recommended that
you, as seller, engage legal counsel to act solely on
your behalf. Among other things, he or she will protect
your interests by:
- Checking the documents prepared by the buyers lawyer
and explaining them to you
- Ensuring that your old mortgage has been properly
discharged if this is required
- Ensuring that you have no further obligation regarding
your old mortgage if it is being assumed by the buyer
- Confirming that all payments for which you are responsible
have been made
- Arranging for you to sign the transfer documents
- Preparing a statement for you outlining where all
the purchase money was disbursed and giving you a
cheque for the balance
Liz
Grambart Anders
Treiberg
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