Three Closing Day Questions Answered for Your Ottawa Home

15 02 2015

Home Buying 2Congratulations on recently deciding to list your home on the Ottawa housing market. As you may have noticed from my recent blogs, it really is a great time to be a home seller as you stand to get a great price for your property.

But I’m sure you still have some questions you want answered before you attend the final closing.

Thus, I’ve compiled a list of three commonly asked closing day questions. Hopefully they will be of help to you!

What People Ask About Closing Day When They’re Selling Their Home

What identification will I need? The Law Society of Upper Canada requires that lawyers retain photocopies of two pieces of identification from each client in the file. One piece of identification must be photo ID. In lieu of a driver’s license or a passport, you can also use an Ontario Photo Card.

What Do I do if I’m not going to be in Ottawa for the closing date? There are a variety of reasons you might be out of town on that day, including vacation or the relocation to another city. But if the lawyers and agents have all of the information required for the transaction (such as property details, the buyer and seller information and mortgage instructions where applicable) then they will most likely send the documentation to a solicitor or notary in the city where you are so you can sign the documents in front of them. Of course, there’s the possibility you won’t be at a place where you can sign them in front of a solicitor or notary. In that case, the lawyers can set up a power of attorney for purchasing or selling a certain property.

What do I do with my keys on the closing date? The new purchaser will get the keys to the home between 2 p.m. and 5 p.m. on the closing date, depending on a number of factors. These include mortgage funding, courier delivery of keys and/or registration on the online system.

Contact Us For More Home Selling Assistance!

To receive help for every stage of the home selling process, please contact us, Geoff and Bobbie McGowan today.

We will be happy to assist you by answering any questions you might have as well as providing you with some valuable home selling resources.

Until next time,

Geoff


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