The Ultimate Real Estate Closing Checklist
At JSM Law, we understand that the home-buying and real estate process can be quite a challenge. Moreover, closing a real estate deal can be viewed as a stressful or laborious task because of the legal requirements and procedural formalities. But, with a little preparation, you can easily navigate the real estate closing process and ensure a smooth, efficient transaction.
As experts in real estate law, we’ve created a handy checklist to help you close your real estate deal with as little stress as possible. Follow our checklist to complete the real estate process accurately and on time, so that you can get back to the other important things in life.
1. Two pieces of ID
You will need to carry two acceptable forms of identification, such as your Driver’s License, Passport, Credit Card, SIN Card, Citizenship Card, or Ontario Photo ID Card.
2. Transaction document
This will depend on your type of closing:
a. Agreement of Purchase and Sale (Buying or Selling)
b. Lender Mortgage Commitment/Instructions (Buying/Selling/Re-Financing/Second Mortgage(s)
c. Line of Credit instructions
d. Service Contract (Commercial Construction Liens)
a. Home/Condo Insurance Binder (Must include lending institution’s name on the policy)
b. Commercial Insurance Policy (Must include lending institution’s name on the policy)
4. Mortgage/loan payment method
a. Void cheque required; or
b. Pre-Authorized Debit (PAD) form required.
5. Client information
a. Full names of all Purchasers
b. Full names of spouse(s) (Sales/Refinance/2nd mortgage(s))
c. Telephone number(s)
d. Email address(es)
Once the checklist information is compiled, please send the information to either:
(Please write “New Closing” and property address in the subject line)
(Please call to schedule an appointment)
If you have any concerns about closing your real estate deal or you’re looking for a law firm to help simplify the process, reach out to the lawyers at JSM Law. As a team of experienced and qualified lawyers, we are committed to providing our clients with the best possible legal services. Along with real estate law, we specialize in civil litigation law, corporate law, real estate law, criminal law, personal injury law, and wills law.
We offer our services to clients across Mississauga, Brampton, Toronto, Oakville, Hamilton, Milton, Burlington, North York, Caledon, Vaughan, Markham, Scarborough, Downtown Toronto, and Richmond Hill, Ontario.