Real Estate Transfers

Purchase process

After you are approved for financing and buy a dream home, we would be happy to help with your transaction and register the transfer in the Land Title office. You will need to call us when all subjects of the contract of purchase and sale are removed. We normally start your file 2 weeks before the closing date. We will send you a questionnaire to fill out. You will need to provide our contact information to your realtor and mortgage broker/consultant. After we receive the information and documents, we will open your file. We will be signing the documents approximately 2-3 days before the closing date. For our meeting, you will need to bring 2 pieces of Identification, for example as: Canadian Passport and a BC Driver’s Licence. You will also need to bring a bank draft for the balance to complete. At the time of signing the documents, we will explain the documents to you in detail and answer all your questions. On the completion date, we will receive money from your lender and register your transfer at the Land Title office. On the same day, we will deposit the sale proceeds to the seller’s notary account. You will get your keys from the house from your realtor on the Possession date.

After all, you will hear from us in about 60 days. We will send you a State of Title Certificate – a final Certificate of Ownership.

Sale process

You need to call us when all subjects of the contract of purchase sale are removed. We normally start your file 2 weeks before the closing date. We will send you a questionnaire to fill out. You will need to provide our contact information to your realtor. After we receive the information and documents, we will open your file. We will be signing the documents approximately 2-3 days before the closing date. For our meeting, you will need to bring 2 pieces of Identification, for example as: Canadian Passport and a BC Driver’s Licence. At the time of signing the documents, we will explain the documents to you in detail and answer all your questions. On the day of the closing, we will pay out your existing mortgage on the title, if you have one, and release the balance of sale proceeds to you via direct deposit to your account or via providing you with our trust cheque. We will follow up with the lender to make sure your mortgage is discharged and taken off the title.

Family Transfer

The process is essentially the same as purchase and sale. Just sometimes there is a “buyout” from one person to another and sometimes there is no consideration involved as people give a gift of property. The Gift scenario is normally between relatives. Buyer/Transferee and Seller/Transferor have to be represented by different notaries due to conflict of interest. The party who is selling/gifting property has to get Independent Legal Advice.

Unfortunately, family transfers are the most disputed probably due to complicated personal relationships between families.