Hiring an experienced real estate notary or a lawyer will ensure that the sale of your house will go smoothly, your mortgage is discharged, and you receive the net proceeds from the sale.
After the Contract of Purchase and Sale is signed by the buyer, the subject clauses are removed, and the deposit is made, the purchase contract becomes binding on both parties. At this point the conveyancing process, the process of transferring the title on property from the seller to the buyer, will start.
Interested in the conveyancing process from a Buyer’s perspective? Click here to learn how to buy real estate in Vancouver.
The Conveyancing Process
The buyer’s lawyer / notary public will be responsible for preparing most of the documents and sending them to us. Some of the documents that you may be required to sign include:
- Form A Transfer – a document that transfers the title on property from the seller to the buyer;
- Statement of Adjustments – a document that provides details on all the money that is coming in and going out;
- Form F (for a strata property) – a document with information about the strata property that indicates whether all strata fees have been paid to date;
- Tax Certificate – document outlining whether GST is to be paid or not;
- Statutory Declaration confirming your country of residency; and
- Statutory Declaration of site survey (for detached houses)
If you are non-resident seller, you will also be required to provide a clearance certificate from the Canada Customs and Revenue Agency.
After we receive all documents from the buyer’s lawyer/notary, we will review them to ensure they match the purchase contract and meet with you to explain and then sign them. We will also prepare and ask you to sign an Authority to Pay – this will authorize us to make certain disbursements on your behalf from the net sales proceeds, such paying out the mortgage on the property.
The signed documents are then returned to the buyer’s lawyer / notary who attends to registering the transfer of the title in the Land Title Office. Once the title is transferred, the sales proceeds will become available and we will deposit them into our trust account. After we make all required disbursements, such as paying off your mortgage, the remaining funds will be released to you.
Hiring A Notary Public Or Lawyer
At Vancouver Downtown Notary, our notary public will act on your behalf to sign documents and handle all aspects of the conveyancing process. From preparing and reviewing the required documents, to registering the transfer of the title, we make sure everything is done right the first time.
We act in your best interests to protect your assets, drawing from our years of experience to ensure that your real estate transaction takes place, and that payment is delivered on time.
Interested in finding a notary public to help you sell your home? Contact Vancouver Downtown Notary for help on real estate transfers today.