Natasha Shaw

General Rule of Thumb:  Ensure all of your financing conditions dictated in your Mortgage Commitment are Satisfied at least 10-14 business days prior to closing! 

Upon all conditions being met by the lender, the process takes about 3-4 business days before the Lawyer will obtain your mortgage financing instructions from the lender.  On a case by case basis, the lender may be able to put a rush or priority on your file to be instructed pending what items may be outstanding - but this leaves room for surprise and delays on closing! 

Your lawyer will set up a time for you to come into the office typically within 3-4 days business days (if not sooner) before the closing date.

Be prepared to provide your Lawyer with the following:

• Purchase and Sale Agreement on Property
• Property Insurance Binder (Fire Insurance)
• Real Property Report – to be obtained by Seller or Seller’s Lawyer
• Your Personal Identification
• Mortgage Commitment upon File Complete (extra courtesy offered by Mortgage Professional)
• More items may apply pertaining to individual circumstance.

Funds are typically received by the buyer's lawyer within at least 1-2 Business days of the Closing Date to further complete the transfer of the property into your name.

Congratulations!!

TIP:Call your lawyer’s office the day before your meeting to confirm they have received everything they require and to confirm if they are pending on anything to avoid delays on closing!

Related Articles:

• What happens Behind the Scenes on Closing Day?