Buying Property

1. Buyer identifies property and decides means of financing the purchase.
2. Vendor’s Attorney/Realtor contacted with offer.
3. Once offer accepted, a land survey and Title search done to ensure that Title is a good title.
4. Terms of the Agreement for Sale are reviewed and negotiated.
5. Agreement is signed by Buyer.
6. Agreement and deposit forwarded to Vendor’s Attorney.
7. Buyer secures balance of the purchase price, closing costs and Attorney’s fee etc.
8. Vendor’s attorney forwards a copy of the executed Agreement, up-to-date Certificate of Payment of Property Taxes, proof of payment of water bill and maintenance fee, where applicable, OR an undertaking to provide these at a later date.
9. Vendor’s attorney pays stamp duty and transfer tax.
10. Instrument of Transfer signed by Buyer.
11. Instrument of Transfer signed by Vendor and sent to Tax Admin. by the Vendor’s Attorney to be cross-stamped.
12. Documents lodged at NLA by Vendor’s Attorney.
13. Certificate of Title registered in Buyer’s name.
14. Balance of purchase price and closing costs sent to Vendor’s attorney in exchange for Certificate of Title and Letters of Possession. Our legal fees are also payable.
15. Outstanding fees paid in exchange for Title and Letters of Possession.

NB:- If the property is purchased though a mortgage loan then the Title goes directly to the financial institution after it has been registered in the name of the Buyer.