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Land
Transfer Tax Schedule | |
Closing
the Deal
Before the Day of Closing
You will be required
to attend at your lawyers office a few days prior to closing to sign all necessary
documents and to provide your lawyer with the balance of closing funds by way
of certified cheque. At this time all aspects of your purchase and financing will
be reviewed and if you have any questions you should feel free to ask at this
time.
New Home Purchases
If you are purchasing a new home
from a Builder, you will be contacted by the Builder a few days prior to closing
to complete the (in Ontario) inspection of the home under the Home Warranty Program.
A representative of the Builder will complete this inspection with you and you
should be sure to note any deficiencies on the form provided by the Builder.
This
form is called a Certificate of Completion and Possession and is your insurance
that the Builder will rectify any deficiencies noted on the form within one year.
If you are financing your home by means of a mortgage your mortgagee may require
a copy of this form prior to advancing funds. You should try to arrange for your
appointment with your lawyer to follow your inspection of the property and your
lawyer will ensure that a copy of the Certificate of Completion and Possession
is provided to the mortgagee.
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