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Page THE HALTON HILLS Wednesday May 22 1991 Home buyers must ensure all is in order This article Is provided by local Realtors and the Ontario Real Estate Association OKEA for the benefit of consumers In the real estate market If youve just purchased a home whether youre a first or fourthtime buyer youre pro bably still experiencing all the excitement and anticipation that comes with having your offer to purchase accepted And while it may seem like everythings finalized there are still many items that must be taken care of For instance have you adequate ly planned for the closing Closing is the point at which ownership and usually possession of the property ia transferred from the seller to you It takes place after the parties involved agree that all legal and financial obligations have been met Many people including yourself nave a role in events leading up to the process The Realtor and your lawyer will guide you through the many steps involved but the following outlines some points to keep in mind and expect as you move closer and closer to the big day You should make sure a copy of the signed Agreement of Pur chase and Sale is sent to your lawyer as soon as possible The Realtor will usually do this for you Your lawyer needs to see any conditions which exist and the date that you and the seller have agreed to close on Your lawyer will ask you and anyone else in the pur chase with you how you want to be registered on the title to the property You should also make sure that you begin satisfying any condi tions of the agreement that re quire your action as soon as possible These conditions have definite dates association with them and if you miss one you may have to arrange an exten sion or possibly risk losing the en tire deal As each condition is met the Realtor will fill out a waiver form for signatures This document states that the condition has been satisfied and is no longer part of the agreement Most lawyers wont bgin doing any of the tasks they have to complete until the conditions are waived This saves you money if for any reason the deal falls through due to an unmet condition Once all the conditions have been met your lawyer will begin searching title to the property This can be an involved and process of going back through government records to be sure the seller has clear title and that it can be transferred to you without any problem If you like your offer should contain a condition that the pro perty pass inspection by a profes sional home inspector Make sure that you have the inspection done within the time established by the condition to ensure the house is in good shape and that you want to proceed with the purchase If there isnt a current land survey of the property you should arrange for one soon Your lender may require it and youll want it for your own peace of mind Also be sure to contact your lending institution to have them begin the process to finalizing your mortgage documents Ask if your lawyer can draw up the documents this will usually save you money If you havent for mally applied for a mortgage yet its time to begin Your lawyer will contact the vendors lawyer with any ques tions or issues regarding title and closing adjustments that must be resolved before closing can take place Also remember that hydro gas and water companies servicing the property will be contacted by your lawyer for final meter readings on the day of closing Your lawyer will also make sure these utilities have no outstan ding claims against the property for unpaid bills Your lawyer will also make sure that property taxes on the house are local zoning and building restrictions have been met and there arent any liens on personal property such as appliances to be sold with the house You want your lawyer to make sure that what youve agreed to buy is what youll get nothing more and nothing less If your lender is not going to draw up the mortgage papers your lawyers will do this for you When a vendortakehack mor tgage is involved your lawyer will create this document too If youre assuming an existing mortgage make sure youre qualified to assume it by con tacting the lending institution and have your lawyer review any documents youll be signing Your lawyer will review and verify the draft deed statement of adjustments and other closing information provided by the sellers lawyer He or she will also deal with problems as they arise 2 MILL STREET E A0 ACTON 4168734937 TORONTO LINE 4549101 HEATHER WHITING SCOTLAND Associate Broker 8532086 CANTERBURY STABLES 349900 This acre farm would be a super horse set up Excellent barns and out buildings plus a 3family home just waiting for your finishing touches See It today with Heather Whiting Scotland Associate Broker GLEN WILLIAMS HOBBY FARM This spacious updated bedroom farm house Is set On plus rolling acres with charming countryside views Take advantage of the generous vendor financing Call Heather Whiting Scotland Associate Broker at LETS GO BACK TO YESTERDAY 179900 Experience the charm of original wood work and plate railing a fireplace French doors etched glass windows and enclosed porches This conveniently located solid older home features 3 bedrooms with closets plus a developable attic updated wiring and plum just waiting tor your decorating touches Call Heather Whiting Scotland Associate Broker at RENTALS 5 bedroom farm house plus acres plus utilities 3 bedroom country home with bedroom inlaw suite plus utilities bedroom apartments and month and all plus hydro No smoking no pets Call Heather Whiting Scotland Associate Broker at HALTON HILLS HOTLINE ft A Directory of Offered Services In Our Community 8772201 ALUMINUM PRODUCTS STARRETSTARRET Chartered Accountants 1 Main St South Georgetown Ontario Oll4168731601 4168462561 I you meet by Accident CALL US HIGH TECH PAINT SYSTEM MOUNTAINVIEW GEORGETOWN MARDON ALUMINUM Siding Sol it Trough Windows Doors CALL DON 8337444 APPLE REPAIRS WE HANDLE ALL INSURANCE CLAIMS AUTO UPHOLSTERY nu aunu rau 8731655 ST UNIT OEOROETOWN ALUMINUM INSTALLATION SPECIALIZING Replacement Windows Doors Doors Soldi Fascia Rooting YEARS EXPERIENCE MEL TAYLOR Authored Dealer I improve the look of your home or business ANY SIZE ANY SHAPE 8770955 ATLANTIC ALUMINUM INC Aluminum Vinyl a Shutters Thermal Windows Doors Quick FRE Estimates CREATIVE PONDS AND BULLDOZING DRAGLINE PONDS BULLDOZING GRADING HOE WORK FREE ESTIMATES 5198337276 O Box Onl NOB TO Cl i Ub Hr 8730847 TAS CONTRACTING Areas Carpentry Custom Framing Additions Renovation Roc Rooms Docks Call Tim