THE DOCUMENTS YOU WILL SIGN
Once the looking is done, the first thing that becomes obvious is that there is a lot of paperwork involved in buying a home. Most people have never seen the legal documents involved in a real estate transaction. Even people who have bought homes in the past have only seen them a few times at most. I believe that knowledge is the key to feeling comfortable about your purchase, so to help you understanding the documents you will be signing, I’ve placed the commonly used forms here for you to preview. When the time comes to actually put your signature down on paper, I will walk you through the documents so you understand what it is that your signing and the implications for you. If you’re buying a home or condo we will use the following forms:
WORKING WITH A REALTOR — This brief form outlines the different ways that a Realtor can interact with clients and customers and encourages a conversation about what it means to work with a Real Estate Agent.
BUYER REPRESENTATION AGREEMENT — This form is the Agreement between the Buyers and the Realtor, and explains what obligations the Realtor has towards the client, what obligations the client has to the Realtor and how the agent will be paid.
FINTRAC — This form asks the buyer to provide personal identification as a way to help prevent money laundering through Real Estate.
AGREEMENT OF PURCHASE AND SALE – FREEHOLD PROPERTY — A comprehensive document describing the particulars of a real estate transaction and stipulating the terms and conditions of the sale.
AGREEMENT OF PURCHASE AND SALE – CONDOMINIUM — A comprehensive document describing the particulars of a real estate transaction and stipulating the terms and conditions of the sale.
CONFIRMATION OF COOPERATION — This form outlines the arrangement between the two real estate companies and the extent of their cooperation with one another for the purpose of ensuring the clients are treated fairly during the transaction.
WAIVER OR NOTICE OF FULFILLMENT — If your offer is conditional, these forms notifies the parties to a transaction that conditions have been satisfied, or that you are waiving your right to enforce the conditions to back out of the deal, so that the deal can proceed towards closing.
Please remember that these forms, which are designed by the Ontario Real Estate Association and are tailored for use for the members of the London and St. Thomas Association of Realtors specifically for the London and St. Thomas markets, do change slightly over time. If you have any questions about what the forms mean in plain English, please let me know and I will take the time to answer any questions you might have about any of the forms involved in the purchase of a home.
SERVICE | KNOWLEDGE | RESULTS
Thinking about Buying?
Should I Buy Now?
Getting Ready to Buy
Choosing the Right Agent for You
Why Choose Steve?
Searching the Listings
Choosing a Neighbourhoods
How Do You Buy a Home?
The Documents You Will Sign
The Deal is Firm: Now What?
Your Lawyer’s Role
Closing Costs & Other Fees
Preparing to Move
After Closing Day
334 Wellington Rd. S
London, Ontario N6C 4P6