What's next for sellers
You accepted an offer. Here's what happens next.
I've laid out every step from today to the day you hand over the keys. Tick them off as you go.
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A few quick questions so you only see what applies to you
Is it a condo?
Are you buying another home too?
The buyer usually has a few days to finish their inspection and financing. Here's what to do in the meantime.
What if the buyer's conditions aren't met?
If that happens, it's not the end of the road. Your agreement sets out the options, I'll already be talking with the buyer's agent, and if we need to, we'll get your home back on the market quickly.
Keep the home ready for visits
The buyer may book an inspection or an appraisal. I'll coordinate the times with you, and I'll let you know the moment the conditions are waived.
Hire your real estate lawyer
Your lawyer pays out your mortgage and sends you the money from the sale. Send them your agreement now so nothing gets rushed later.
Me: I'll send your lawyer the agreement and any changes we make along the way.
Who I recommend
I can send you the real estate lawyer and mortgage agent I trust. Text me and tell me who you need. You're never obligated to use anyone I suggest. Shop around and get a second quote.
Text me for namesCall your mortgage lender
Ask for a payout statement and whether there's a penalty for paying your mortgage off early. Buying again? Ask whether you can move your mortgage to the new home.
Hold off on big moves
Until the deal is firm, keep everything running as normal. It's best to wait on cancelling services or booking movers until the deal is firm. I'll let you know the moment it is.
It's sold. Now we get you packed, moved and ready to hand over the keys without any surprises.
Book your movers
Movers book up fast near the end of the month. Lock in your date as soon as the deal is firm.
End your utilities on closing day
Ask for final readings on your closing day, not before. Some towns need a form and a couple of days' notice for the final water reading, so pick yours below.
Where is the home you're selling?
Rural addresses may be on Hydro One, a well or propane instead. If you’re not sure which applies, text me the address and I’ll check.
Cancel the extras
Alarm monitoring, internet, lawn care, snow removal, water delivery. Most people remember hydro and forget the rest.
Tell your rental company
If you rent a water heater or anything else, let your lawyer and the rental company know, so the contract moves to the buyer on closing.
Keep your home insurance until closing
The home is your responsibility until the moment the sale closes. Only cancel your policy after your lawyer confirms the deal is done.
Leave what's included
Anything your agreement lists as included stays with the home, like appliances or light fixtures. Not sure about an item? Ask me before you pack it.
Forward your mail
Set up Canada Post's Mail Forwarding a couple of weeks before you move.
Update your address everywhere
By law you have 6 days to update your driver's licence and vehicle permit, and 30 days for your health card. One online form through ServiceOntario updates all three. Here's the list I give every client:
- Driver's licence, vehicle permit and health card (one online form through ServiceOntario)
- Canada Revenue Agency
- Your bank, credit cards and investments
- Your employer or payroll
- Car insurance
- Doctors, dentists and pharmacy
- Schools and daycare
- Subscriptions, deliveries and online shopping accounts
Get the home ready to hand over
Leave it clean, empty and in the same condition the buyer saw it. Gather every key, garage remote, alarm code and appliance manual.
Take a few photos on your way out
On your last day, snap a few photos of the empty rooms and the meter readings. It's an easy way to keep a record, just in case.
Leave a note for the new owners
Garbage day, where the water shut-off is, paint colours, warranties. It takes ten minutes, and it's the kind of thing people remember.
If the agreement includes one
The buyer's visit before closing
I'll arrange it with you ahead of time. It's the buyer's chance to see the home before it's theirs.
The lawyers do the heavy lifting today.
Hand over the keys
Drop your keys off as we've arranged. Once the sale closes, your lawyer pays out your mortgage, the real estate commission, legal fees and any adjustments, then sends you the rest. Your lawyer can tell you when to expect it.
A quick safety tip
Only share your banking details with your lawyer directly. If you ever get an email asking for them, or saying the details have changed, give your lawyer a call at a number you already have before doing anything.
Two last things, and then you can focus on your next place.
Report the sale on your tax return
If the home was your principal residence, you still need to report the sale on your next tax return, on Schedule 3 and Form T2091. Your accountant will know what to do with those.
Moving somewhere new?
Through the RE/MAX network I can introduce you to an agent almost anywhere. Text me and I'll make the connection.
Is the home rented, or not your main residence? Living outside Canada? There are a few extra steps. Let me and your lawyer know early, and we'll take care of them.
Your ticks are saved on this device only. This page is general guidance. Your lawyer and your agreement have the final word on dates and amounts.
Not sure about something? Ask me.
If something on this list doesn’t make sense, or a date is coming up and you’re not sure what to do, text me. If it’s 9pm and something is on your mind, text me anyway.