As a real estate transaction is likely the largest financial transaction you will undertake in your life. It can also be very stressful and confusing. Our goal is to help you through the process, giving you peace of mind that everything will be completed correctly, on time and stress free as possible.
What is conveyancing?
- Conveyancing is the act of transferring ownership of land from one individual or individuals to another. It may also involve transfers of title where no money is changing hands. It is also used to describe the paperwork which must be done in order to grant your lender a mortgage over the title to your property as security for monies borrowed or to put a line of credit in place for future borrowing. It can involve the transfer and/or mortgage of real property (both residential and commercial), personal property, leases or subleases, the assets of a business and manufactured homes.
- We can make your real estate transaction smooth and straight forward, either if you dealing with property transfers or refinancing. Real Estate is one of the primary areas of business for a Notary Public. In fact Notaries do more conveyancing in BC than do lawyers.
Some of the services that we would be involved in a real estate conveyance:
- To review the fully executed Contract of Purchase and Sale you or your realtor have provided to us;
- To search title;
- To identify and confirm with you the charges that are your responsibility to discharge; to discuss charges to remain on title; and to review a copy of the Plan as filed in the Land Title Office;
- To obtain and review municipal tax information specific to the property;
- To prepare or obtain transfer and mortgage documents as well as supporting documents required by the registry or others;
- To request payout statements from the Lenders;
- To review payout statements upon receipt from the Lenders;
- To receive, review, and revise as necessary, the sale/purchase documents from the Buyer’s/Vendor’s legal representative;
- To prepare supporting documents;
- To attend to or arrange for execution of sale/purchase and supporting documents;
- To negotiate appropriate closing undertakings with solicitor/notary for Buyer/Seller;
- To make inquiries as to the residency status of the Seller pursuant to the Income Tax Acts as required;
- To receive and account for trust funds;
- To attend to registration of relevant documents at the appropriate Land Title Office;
- To provide your Lender with its requested security documents;
- To provide your Lenders with payout proceeds and discharge forms;
- To disburse trust funds;
- To register discharges received from the Lenders;
- To report and provide you with a final State of Title Certificate, if applicable.