Selling a home can be one of the most stressful processes, with each transaction requiring a high degree of involvement from a home sale lawyer to protect your investment. For this reason, our real estate lawyers in Calgary are here to guide you through the process.
To ensure a seamless transaction in the home-selling process, read and apply these home-selling must-knows. These are a few essentials you, as a seller, need to understand when putting your property on the market.
1. When to Hire a Real Estate Lawyer
You should sign 7-12 days before the transaction closing date. After that, we will reach out to schedule an appointment for the closing documents signing. If your plans place you out of the city (or country) during this period, inform your real estate lawyer immediately. We will need to arrange the closing documents signing before a notary public and have them send the originals to our office.
2. When to Vacate Your Property
A common home sale question is when the seller needs to vacate the property. Your home should be empty at noontime on your transaction’s closing day. Failure to clear the premises on time may result in the buyer’s financial compensation. In addition, sellers should ensure any chattels (commodities not affixed to the property) contained within the purchase price remain on the property. Also, sellers should honour any commitments in the purchase contract, including completing restorations and property cleanings.
3. When to Cancel Homeowner’s Insurance
The purchase contract states sellers are responsible for losses until the close of the transaction. Regarding liability issues, this home sale must-know stands out the most. You must refrain from cancelling homeowner’s insurance until the sale proceeds arrive in your bank account.
Home sale lawyers always attempt to close each transaction on time. However, delays can periodically arise from the lender, lawyer, purchaser, banks, etc., which can shelve payment for days. In such an event, you will be reimbursed through the buyer via late interest costs. Regardless, you must hold insurance on your property.
Real Estate Lawyers Who Can Help Sell Your Calgary Home
Selling your home can be intimidating; there are so many things to do that it can sometimes feel overwhelming. For this reason, you should find assistance from competent professionals you can trust. At Realty One Legal, we are a lawyer-paralegal team with over 30 years of industry experience. Moreover, we have been proudly serving Calgary and the surrounding areas since 2015.
Blog posts from Realty One Legal are for general information only. The content should not be considered legal advice. If you are in need of professional legal advice, please reach out to our Realty One Legal team/lawyers.