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LAWYER’S LETTER: WHAT HAPPENS ON CLOSING DAY?

As an Ottawa Realtor I am often asked about the closing process with a lawyer. I have included an example letter from an Ottawa lawyer to highlight what happens behind the scenes. The closing date is the day when you finally take legal possession of your new home. This date is specified in your Agreement of Purchase and Sale. The final signing usually happens at the lawyer or notary’s office. The purchaser will receive their keys to their new home and the vendor will receive their funds from the sale. The closing date is often at least 3 weeks after the vendor has accepted the offer. This is to allow the lawyer time to collect all the required conditions in order to complete the deal.

Please view the example letter below:

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This letter is to help prepare purchasers of the required conditions before and on the closing date.  It includes the following details:

1. Closing Date
2. Fees and Disbursements
3. Title
4. Mortgage
5. Insuring Title to Your Property
6. Intended Use and Characteristics of the Property
7. Fire Insurance
8. Utilities
9. Keys
10. Signing
11. Identification