Real Estate Law

What to Expect When Selling a Home

Residential Real Estate Lawyers for Real Estate Sales in Toronto & the Greater Toronto Area

Selling a home requires managing a number of steps and often occurs in conjunction with the purchase of a new property. Each transaction must be overseen carefully in order to ensure all of the steps are completed by the closing day. If one transaction is delayed, it can create havoc for the other one and for the parties involved. In order to ensure our clients are as prepared as possible for the sale of their homes, we have set out an overview of what to expect. Included below is an overview of our role as well as a list of the information we will require to complete the transaction.

At GLG LLP, our real estate lawyers are very hands-on with each file they oversee. Unlike some firms where the details are handled by administrative staff, our lawyers stay involved in each of our real estate files to ensure nothing is left to chance or overlooked. We take pride in the level of service and attention to detail we provide to each client.

What Do the Lawyers at GLG LLP do to Prepare for My Real Estate Closing?

Once you have retained us to represent you in the sale of your home, our office will begin gathering the necessary information we’ll need for the closing. One of our key responsibilities will be to create a Statement of Adjustments to provide the buyer’s lawyer in advance of closing. This document sets out the purchase price of the property, any deposits the purchasers have paid to date, and any credits owing to you upon closing for items such as property taxes or common expenses in the case of a condominium. You can expect to be in regular contact with our office leading up to the closing date as we gather all of the necessary information and make arrangements for you to sign the paperwork.

At GLG LLP, we are able to conduct all client meetings remotely so there is no need to travel into the city to sign documents. We employ user-friendly meeting technology to meet with clients and execute paperwork in advance of the closing.

Information Required from the Seller(s) in Advance of the Closing

Soon after you’ve retained us to act on your behalf in your real estate sale, we will require the following information from you with respect to your current home:

  1. The most recent mortgage bill showing the outstanding balance;
  2. The most recent property tax bill;
  3. The most recent utility bills for the property;
  4. The full legal names and Dates of Birth of the individuals on title;
  5. The marital status of the individuals on title;

Contact GLG LLP for Representation in Your Residential Real Estate Sale in Toronto, Mississauga, Markham, York, and Etobicoke

When selling a home, there are many steps to complete and several elements that must come together in advance of the closing date. Often, sellers are managing a purchase and sale simultaneously, which can become overwhelming quickly. The lawyers at GLG LLP are experienced in managing residential transactions throughout the Greater Toronto Area and elsewhere in the province. We will ensure nothing is left to chance leading up to your closing. To discuss your purchase with a member of our team, please contact us online or by phone at 416-272-7557.