The following is no substitute for advice provided by a lawyer specifically for you. It is intended only to help you understand that advice. No responsibility is taken for any problems arising except due to paid legal advice.
©1996 Jaques Law Office. All Rights Reserved.
The most common way is to list it with a realtor. This is expensive but effective. Often the total of the legal fees and costs are less than the GST you pay to the realtor. Try to negotiate a lower commission.
If you have not already done so, refer to our page on real estate purchase and sale.
You want a high price, of course.
You want a possession date convenient to yourself. Your costs will end on the adjustment date, which is usually the same date, so make sure this is as soon as possible.
You want a high interest rate and a high deposit too.
You want to avoid warranties of the condition of the property. The realtor's form includes a warranty that there is no urea formaldaehyde insulation and that it be delivered in the condition it was in at the time of inspection. The purchaser may also be seeking the following.
That the property conform to the disclosure statement provided to the realtor.
That a surveyor's certificate (Real Property Report) satisfactory to the mortgagee is delivered. The common clause, "existing surveyor's certificate" is better for you. Be aware this will save the purchaser about $400.00 (in Nov 96)
That a Zoning Memorandum (Siting Certificate) satisfactory to the mortgagee is delivered. Be aware this will save the purchaser about $50.00 (in Nov 96)
That a clear Sask Energy Certificate is delivered.
That there are no work orders outstanding against the property.
Ensure that any items which are fixtures, and which you want to keep, are specifically excluded.
Don't permit conditions on the deal that are not absolutely essential. If there must be a condition, be sure it has a deadline, and doesn't permit the purchaser to take advantage of it to simply change his/her mind.
You may wish us to review the terms. Although normally the purchaser prepares the offer, you may wish to have us prepare the agreement.
Well, hire us, by phone, in person, or via our retainer page.
Occasionally the lawyer will also act for the purchaser too. This is a desirable thing, in our view, but you must be aware of the drawbacks. In our view, the convenience and savings more than justify the risk, which is both unlikely and comparatively insignificant. It saves about $25.00 in costs, and we reduce our fees by 10% to each side.
If you have obtained a quotation on the fees, bring it to our attention to ensure it is not missed.
If we do not guarantee anything except the transfer of title, and do not handle the payment, then we don't consider that 'conveyancing' and the fees are considerably cheaper.
Tell the realtor to send the Agreement to us.
Search for the Surveyor's Certificate, Siting Certificate, and Duplicate Certificate of Title. Let us know the results and bring them to us.
We will prepare the transfer, and calculate the money necessary to complete the transaction. We will send the transfer to the purchaser's lawyer on trust conditions, which will make him/her personally responsible for payment.
Do not permit possession until we confirm that the purchaser's lawyer has accepted the trust conditions.
You must arrange to change the utility services yourself. Don't forget Sask Tel, Sask Power, Sask Energy, Cable, and Water. You must pay all utilities up to the date of possession.
You should send changes of addresses to anyone with whom you deal.
Prepare and follow a moving checklist.
We will send you a full report once the transaction is complete, together with the proceeds of the sale, after paying any necessary costs to deliver clear title.
Note, it is not uncommon for the money to arrive after the possession date, but in that case, interest is also paid.
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