We quiet often get questions from clients & colleagues alike asking us what kind of work goes into a standard real estate file. As such, for the sake of transparency, today’s article will discuss in detail what goes on behind the scenes, real estate wise, at 6ix Estates LLP.
When we first open a file for you, we begin a record-keeping process to ensure all your documentation and information is stored safely with us. This includes items such as IDs, a retainer agreement, contact information, contracts, notices, reports, tax documents, funds etc. We also provide a detailed Real Estate Guide that seeks to provide an overview of your entire transaction.
The next step involves a client or their realtor sending us a copy of the Agreement of Purchase & Sale (APS). The APS is said to be “firm” if all of its conditions have been fulfilled. Our office will check with you or your realtor to determine if the APS is indeed firm or not, prior to moving onto the next stage in the transaction.
If the APS is firm, our office will then contact the lender (if there is a mortgage) to obtain their instructions, whilst also doing a thorough search of the title history of the property to date. Our office also works closely and coordinates with the other side representing the buyer/seller and their lawyers, to ensure that the correct documents, funds, and keys end up with the right person at the right time.
Once we’ve compiled all the necessary information and documents, we book a final signing appointment with our clients in advance of the closing date of the property transaction. The signing appointment can be done in person at any of our three GTA office locations, at a location of the client’s choice (for e.g. their home or a coffee shop), or via video conference (for e.g. Zoom). If you choose to video conference, then our office will e-courier your file to you prior to your signing appointment.
During the signing appointment, our clients are encouraged to ask us any questions they may have with respect to their transaction, prior to signing off on all the documents. If the documents were couriered, then our office will arrange to pick them up from you either the same or the following day.
Our office then ensures that all relevant banking is complete prior to signing off on all the required legal documents. Once the transaction closes, we send you a reporting letter along with a copy of all of the documents pertaining to the transaction, for your own record keeping. Our office will also make back up copies of these documents in case anything comes up in the future.
Contact us today for a free 30-minute no obligation consultation, to discuss all your real estate needs!