utility bills.
WHERE THE CLOSING WILL TAKE PLACE
The closing process will take place within the office of the lawyer or by video conference if allowed in your province. In some cases, however, the lender of the buyer will host and close, or they will bring in a notary company employee. The buyer’s or seller’s lawyer can offer his or her office, but restrictions involving client trust accounting can make it impossible for either lawyer to disburse the funds straight away, which is why a lawyer will handle all the transferring of funds. Otherwise, the lawyer will take on closing responsibilities, taking and disbursing all funds while explaining each document. “Witness only” closings are where an lawyer or a notary will go to the closing location selected by the seller and the buyer to provide all of disbursement services and documents on behalf of the buyer’s lender, although, the lawyer and the notary will not explain any of the legal effects of the documents, which includes the closing itself. Such closings will typically occur in the office of a licensed lawyer.
ONCE THE CLOSING HAS BEEN COMPLETED
The closing process has been completed once all lien holders (such as seller’s lender) have been paid and service providers, paid the overall sales proceeds to the seller, placed the deed and the mortgage, if applicable, for the record of the country recorder of deeds, and gives all other documents for transfers to the buyer. Once the closing process has been completed, the seller must relinquish all possession of the home, and all keys to all doors, garage door openers, and any device or key which controls the
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