1. When should I involve a real estate lawyer?
Once you’ve accepted an offer, it’s the right time. Your lawyer will review the agreement and begin preparing the legal documents needed to complete the sale.
2. What does my lawyer handle when I sell my home?
Your lawyer prepares transfer documents, works with the buyer’s lawyer, ensures your mortgage is paid out, and arranges for you to receive the sale proceeds.
3. How do I get paid on closing day?
Once the transaction is completed and funds are received from the buyer’s lawyer, your lawyer will pay off any remaining mortgage and release the remaining funds to you.
4. What happens to my existing mortgage?
Your lawyer will request a payout statement and ensure your mortgage is fully discharged from the property title as part of the closing process.
5. What are “adjustments”?
Adjustments account for items such as property taxes, utilities, or condo fees that may have been prepaid. These are balanced between buyer and seller at closing.
6. Do I need to be present for signing?
Not always. Many documents can be signed in advance or remotely, depending on your situation. Your lawyer will coordinate timing that works for you.
7. What if there are conditions in the offer?
Conditions (like financing or inspection) must be removed before the sale becomes firm. Your lawyer can help explain these and ensure everything is properly documented.
8. What could delay my sale?
Common delays include title issues, complications with mortgage payouts, or missing documents. An experienced lawyer helps identify and resolve these early.
9. When should I move out?
You must vacate the property by the possession time stated in your contract. Your lawyer will confirm this date and ensure everything aligns with closing.
10. How can I avoid last-minute stress?
Be prepared with documents, stay in communication, and work with professionals who are organized and proactive. The goal is a smooth handoff on closing day.
