Top 10 Things Every New Homebuyer Must Do Before Signing the Contract

Purchasing a home can be an exciting yet daunting experience. There are so many factors to consider, including price, location, and features. However, before you sign the contract, there are crucial steps that you must take to protect yourself as a new home buyer. In this blog post, we will discuss the top 10 things every new home buyer must do before signing the contract and making their biggest investment.

Top 10 things:

Research the area: It is important to research the neighborhood where you plan to buy a home. Check crime rates, school districts, and amenities such as parks, restaurants, and shopping centers. This information can affect the resale value of the home and impact your everyday life.

Check your credit score: Your credit score plays a significant role in getting a mortgage loan and determining interest rates. Make sure you have good credit before applying for a mortgage to avoid rejection or higher monthly payments.

Get pre-approved for a mortgage: Getting pre-approved for a mortgage is essential. This can help you know your budget and how much house you can afford. It also demonstrates to sellers that you are a serious buyer and can lead to quicker closing times.

Hire a real estate agent: A good real estate agent can help you navigate the housing market, negotiate contracts, and find suitable homes that meet your needs and budget.

Conduct a home inspection: Before signing the contract, make sure to get a home inspection. This helps you identify any existing problems or possible issues which can affect the sale or require more money later on for repairs.

Read the contract: Make sure to read the entire contract before signing it. This ensures that you understand all terms, including clauses, contingencies, and obligations. If you are unsure of any terms, ask your real estate agent or a lawyer for advice.

Save for closing costs: Closing costs are unavoidable expenses that cover legal fees, property taxes, and other costs associated with buying a home. Make sure to save enough money for these expenses so that you are not caught off guard.

Avoid moving money around: When applying for a mortgage, do not make any significant purchases, or move money around from different accounts. This can cause complications in the approval process and delay the closing date.

Purchase homeowners insurance: Just like car insurance, homeowners insurance is essential to protect your investment. It covers damages from natural disasters, fires, theft, and other risks.

Prepare for relocation: If you are moving to a new area, prepare for the relocation process by packing early, hiring reputable movers, and arranging for your utilities to be turned on.

In conclusion, buying a home is a significant commitment that requires careful consideration. These top 10 steps every new home buyer must do before signing the contract can help you make the best decision possible. Remember to research your neighborhood, check your credit score, and get pre-approved for a mortgage. Hire a real estate agent, conduct a home inspection, and read your contract thoroughly. Save for closing costs, avoid moving money around, and purchase homeowners insurance. Lastly, prepare for relocation if you are moving. Follow these steps, and you will be well on your way to homeownership.

A Guide to Selling your House as a Non-Resident

Are you a homeowner who lives outside of Canada and is looking to sell your property in Alberta? You may feel overwhelmed or unsure about the necessary steps to take. However, selling a home in Alberta as a non-resident does not have to be a daunting experience. With proper planning and assistance, you can successfully sell your property and achieve your desired outcome. In this guide, we will cover everything you need to know about selling your house in Alberta as a non-resident.

As a non-resident, you may be subject to different rules and regulations compared to Canadian residents. It’s essential to determine your residency status for tax purposes. Consult with a tax professional to understand your obligations and any potential exemptions or tax implications.

Hire a Real Estate Agent:   

The first step to selling your house in Alberta is to hire a licensed real estate agent who specializes in working with non-residents. Your agent should have experience and knowledge of the local market and regulations. They can provide essential advice and guidance throughout the selling process. A trusted agent may also help you find potential buyers and complete the transaction on your behalf, saving you time and hassle.

Get a Property Appraisal:

It is important to determine the market value of your property before putting it up for sale. A professional property appraisal can provide you with an accurate estimate of the current value of your house. A licensed property appraiser or your real estate agent can conduct this appraisal.

In Alberta, sellers are legally required to disclose any known material defects or issues with the property. Provide potential buyers with a completed Property Disclosure Statement to ensure transparency.

Obtain a Clearance Certificate:

As a non-resident seller, you are required to obtain a Clearance Certificate from the Canada Revenue Agency (CRA). This certificate confirms that you have paid all necessary taxes related to your property ownership in Canada. Because the application process can take several months, we recommend applying for the certificate early in the selling process.

Understand the Tax Implications:

Selling a property in Canada as a non-resident may have tax implications. The CRA may withhold taxes from the purchase price of your property as a security deposit until you file your Canadian tax return. It is important to understand the tax laws and regulations related to property sales for non-residents to avoid any unexpected financial consequences.

The CRA requires that non-residents pay a withholding tax of 25% on any capital gains realized from the sale of a Canadian property. However, this rate may be reduced if there is a tax treaty between Canada and your home country. If your property is a rental property, the withholding amount is greater.

Determine Your Selling Strategy:

Finally, you need to determine your selling strategy. Your agent can help you create an effective marketing plan that showcases your property’s unique features and attracts potential buyers. As well, you may also have to decide if you are willing to negotiate on the sale price and how much you are willing to spend on repairs or upgrades to your property.

Selling a house in Alberta as a non-resident can be a challenging and complex process but is very achievable. By following these tips and working with trusted industry professionals, you can successfully sell your property and achieve your desired outcome. It’s essential to stay informed about the regulations and requirements related to non-resident property sales. With a clear plan and realistic expectations, selling your house in Alberta can be a financially rewarding experience. Working with experienced professionals and ensuring that you comply with all legal requirements is essential for a smooth and successful sale.

New Year, New House – Your Guide to a Smooth Home Buying Process

young couple happy to move into new home

The New Year brings in new beginnings and resolutions. One such resolution that most of us have is to buy a new house, but the process can be daunting. Purchasing a home is an important decision, and it requires careful planning and expertise. Buying a house is not just about finding the right home; it’s about making the right financial decisions that will set you up for a secure future. In this blog post, we will cover everything you need to know about buying a house.

First Things First – Financial Planning

Before exploring the housing market, you need to analyze your finances. This involves understanding your income, expenditure, credit score, and debt. It’s best to break down your expenses and see how much of your income you can devote to home buying. It’s recommended to aim for a down payment of at least 20% of the home’s value. However, you may take advantage of first-time home buyer incentives for a lower down payment amount. A good credit score will not only assure you of loan approval but also help you secure a better interest rate. Be sure to get pre-approved for a loan before house hunting to know the amount you can afford.

House Hunting – Research and Due Diligence

House hunting can be an exciting experience, but it’s important to be realistic. Before searching, decide on the location, property size, and style that you prefer. Research the market trends and compare prices to avoid overpaying. Visit multiple homes and take note of details that may affect your future living experiences – neighbourhood, proximity to amenities, crime rate, schools, etc. While a home can look picture-perfect, it’s important to have a home inspection done to uncover any underlying problems.

Financing – The Options Available

Financing a home can be a daunting task, but there are several options available. The traditional method is to go through a mortgage lender, where you borrow money to purchase the house and pay it back with interest over a set period. Weigh the pros and cons of each before making a decision. You may want to reach out to a mortgage broker for assistance in evaluating all your lending options, understand borrowing trends and interest rates.

Closing the Deal – Legal Formalities

Closing on a house involves a lot of paperwork and legal formalities. This involves verifying the seller’s title to the property, settling fees, finalizing the mortgage agreement, and clearing any contingencies. Before signing any agreement, it’s important to have a real estate lawyer review the clauses and ensure that all conditions are favourable. Closing can take time and patience, so it’s best to stay on top of deadlines and have answers to any questions you may have.

Moving In – Setting Up Your New Home

Congratulations on closing the deal! This is a momentous occasion and marks the start of a new chapter in your life. Now it’s time to set up your new home. This involves packing, transporting, and unpacking your belongings. It’s an excellent time to set up utilities, such as electricity, gas, and water, and to get familiar with your new community. Be sure to organize everything to avoid any unnecessary stress.

Buying a house can seem like a daunting task, but by taking the proper steps, it can be a life-changing and rewarding experience. Ensure that you analyze your finances first, research the market, and explore various financing options. Review every legal document with a real estate lawyer before signing and close the deal on time. Finally, make your new house a home by staying organized and settling in comfortably.

We hope this blog post has given you a better understanding of what to expect when buying a house. Best of luck in your house hunting and remember to take it one step at a time.

When it’s time to look for a real estate lawyer to assist you with the legal closing of your transaction, reach out to us and we would love to help!

Avoid the Risks: Pros and Cons of Buying and Selling a House on the Same Day

Buying and selling a house or property on the same day can seem like a convenient and hassle-free approach, right? In a perfect world, it makes sense. However, if you’re considering simultaneous closings, there are a few things to keep in mind. While there are certainly benefits that come along with simultaneous closings, there are also some potential risks and pitfalls that can make the process less than ideal.

In this blog post, we’ll explore the pros and cons of simultaneous closings when purchasing or selling a home. We’ll take a closer look at the benefits and drawbacks of this approach. Then you can better understand what you’re getting yourself into and make an informed decision that’s right for you.

Pros of Simultaneous Closings:

One of the biggest benefits of simultaneous closings is that it can be more convenient and cost-effective than traditional sales. For example, if you’re purchasing a new home and want to sell your current one, simultaneous closings can help you avoid paying two mortgages at once. Additionally, you’ll will have one mortgage payment after both transactions closing, which can save you a lot of money in the long run.

Another pro of simultaneous closings is that it can save you time. Instead of dragging out the process over several weeks or months, you can complete both transactions on the same day. This can be especially advantageous for people who are in a hurry to move and don’t want to wait around for a buyer or a seller to come through.

Cons of Simultaneous Closings:

One of the biggest drawbacks of simultaneous closings is that they require a significant amount of coordination and timing. Any unforeseen circumstance in legal or financial issues can cause significant delays and impact the transaction closing on time. There is just no margin for error.

Additionally, there are certain situations where simultaneous closings may not be possible. For example, if the buyer needs to secure financing, but the sale of their own home is not yet final, they may not be able to close on their new property until the old one is sold. If either transaction falls through, everything else falls through with it – leaving you back at square one.

Another potential drawback of simultaneous closings is that they can be more stressful and overwhelming than traditional sales. You’re dealing with two properties, two sets of negotiations, two sets of paperwork, and two separate closing procedures. This can be a lot to handle, especially if you’re unfamiliar with handling complex real estate transactions.

One of the most common risks for delays is obtaining funds from the buyers’ lender, which could result in the delay of a few hours or even a whole day.

Or, failure to obtain proof of insurance required by the lender could result in a delay in closing the sale.

Other possible risks could include issues with property inspections, appraisals, or with the title clearance, which could also cause delays.

This can lead to a chaotic situation where agreements need to be made quickly, which can cause anxiety and stress for buyers and sellers.

Our recommendations?

  • Avoid having your purchase and sale transactions close on the same day if possible.
  • Minimize potential disruptions by arranging any third-party services such as cleaners or movers on any day except possession day.
  • Have a contingency plan in case the closing is delayed.  
  • Have a backup living arrangement or storage unit for your belongings.

While simultaneous closings can be beneficial under the right circumstances, they’re not always the best or safest option. Take the time to weigh the pros and cons of this approach, so you can make an informed decision that’s right for your situation.

Ultimately, if you’re considering simultaneous closings, it’s always a good idea to consult with a qualified real estate lawyer so that they can help you understand the specific steps, risks, and timing demands involved. With expert guidance and planning, you can mitigate risks and increase the chances of a successful and complication-free simultaneous closing.

Everything You Need to Know about City of Calgary Property Taxes (Due June 30)

As homeowners, one of the responsibilities that we have is to pay our property taxes on time. It’s an annual expense that we can’t ignore, and it’s essential that we understand what we’re paying for and when it’s due. In this blog post, we’ll explore essential information about City of Calgary property taxes due. We’ll talk about what property taxes are, where your tax money goes, how much you need to pay, and when the deadline is. We hope that you’ll have a better understanding of your property taxes and feel confident about paying them on time.

What are Property Taxes?

To understand what property taxes are, we need to determine the value of our property, which is assessed by the City of Calgary. The assessed value of your property determines how much you will pay in property taxes each year. Property taxes are used to fund the services provided by the city, such as waste and recycling collection, police services, fire services, and more. The amount that you pay in property taxes each year is based on the assessed value of your property and the tax rate in your area.

City of Calgary landscape

Where does your Tax Money Go?

When you pay your property taxes, it goes towards funding various programs and services provided by the city. The city uses the funds to enhance the beauty of Calgary city, maintain Calgary’s streets, keep neighborhoods clean and safe and promote economic development in the city. Additionally, your tax money goes towards funding essential services such as police, fire, and emergency services.

How much do you need to pay in Property Taxes?

You can calculate the amount that you pay in property taxes each year by multiplying your assessed property value by the tax rate in your area. To find out how much you owe, you can use the tax calculator available on the City of Calgary’s website. It’s important to note that property taxes are due annually. You can choose to pay in one lump sum or through installments.

When is the Property Tax Due Date?

The property tax due date is at the end of June each year. However, the Province of Alberta Land Titles Office (LTO) is experiencing delays in processing ownership and mailing address changes. As a result of this, some new owners will not receive their new annual property tax bills.

Non-receipt of the property tax bill does not exempt owners from late penalty fees.

Property owners who have not received their property tax bill by the end of May must call 311 (or 403-268-2489 if outside of Calgary) to obtain an up-to-date statement of account.

Tax Instalment Payment Plan (TIPPS)

You can join the Tax Instalment Payment Plan (TIPPS) to avoid delays and potential penalties by making smaller monthly payments instead of one large sum.

If you have not joined TIPPS, please ensure you pay the balance in full by June 30, 2023 to avoid penalties.

What happens if you don’t pay your Property Taxes?

The City of Calgary will charge you a penalty and interest on the outstanding balance. If you’re unable to pay your taxes by the deadline, you can enroll in one of two city programs – the Tax Instalment Payment Plan (TIPP) or the Property Tax Assistance Program (PTAP).

Paying your property taxes on time is an essential responsibility of homeowners. It is essential to understand your property taxes, where your money is going, and how much you need to pay so you can meet your obligation. Property owners in Calgary have an additional three months to pay their taxes, allowing them to plan with their budget. Remember, you can enroll in the TIPP or PTAP payment plans to avoid penalties and interest charges. With these tips, paying your property taxes on time will be an easy feat.

What you need to know: Selling a house with a Power of Attorney

Power of Attorney

Selling a house can be a stressful and time-consuming task with many moving parts. While there are professionals available to help you, it is important you understand the process so that you can seek the assistance you need. One key element in the selling process is executing a Power of Attorney (POA) where required. A POA designates someone else’s authority over property or other personal matters should physical or mental disability prevent you from making decisions —in this case when it comes to selling your house. 

In this post, we’ll discuss what you need to know regarding using a POA for selling a house. We outline why you need one in certain circumstances to how you go about selecting someone who will serve as your Power of Attorney while carrying out the instructions outlined in the document. So read on if you want more detailed information about Powers of Attorney and how they apply to real estate transactions.

To sell a property in Alberta, you would typically need a specific type of power of attorney called a “Property Power of Attorney” or “Real Estate Power of Attorney.” This legal document grants someone else the authority to act on your behalf in real estate matters, including the sale of property.

To obtain a power of attorney to sell a property, you will need to follow certain steps and requirements. Here’s a general guide to help you understand the process:

Choose an attorney or agent: Select someone you trust to act as your attorney or agent in the power of attorney document. This person will have the authority to sell the property on your behalf.

Consult a lawyer: It’s advisable to consult with a lawyer who specializes in real estate or estate planning. They can ensure your Power of Attorney is legally sound and meets all the necessary requirements in your jurisdiction.

Draft the power of attorney document: Work with your lawyer to draft the power of attorney document. The document should clearly state your intention to grant your attorney or agent the authority to sell the specific property.

Specify powers and limitations: Clearly define the powers and limitations you want to grant to your attorney. Specify that their authority is limited to selling the property and any related matters, such as signing necessary documents, negotiating terms, and transferring ownership.

Include property details: Provide detailed information about the property, including its address, legal description, and any other relevant details that help identify it uniquely.

Sign the document: Once the power of attorney document is drafted, review it carefully and make sure you understand its contents. Sign the document in the presence of a notary public or a witness, as required by your jurisdiction’s laws.

Notarize the document: Depending on your jurisdiction, you may need to have the power of attorney document notarized. This typically involves signing the document in the presence of a notary public who will validate your identity and witness the signing.

Provide copies to relevant parties: Make copies of the executed power of attorney document and provide them to the relevant parties involved in the property sale, such as real estate agents, lawyers, or title companies.

In conclusion, it is important to understand all the nuances around a Power of Attorney and why you may need one for real estate transactions.

A Power of Attorney is an essential document to have when it comes to managing any real estate transactions. Whether you are refinancing a current property or purchasing a new one, having a Power of Attorney already set up makes the process easier and smoother. With the various options you can choose from, enabling someone else to act on your behalf if needed is more convenient and just as secure when you use the right person for the job. If you would like complete assurance that your Power of Attorney is legally binding and accurate, contact a real estate lawyer at Summit Legal Group today for help in setting one up.

Don’t wait – take control of your finances by creating your own personal Power of Attorney now. The steps are simple and the benefits immense, so why not get started? Reach out to us to guide you through the process and craft a legally sound Power of Attorney tailored to meet your needs. Act now for peace of mind tomorrow!


Understanding Title Insurance: What Home Buyers Need to Know

Title insurance

When buying a new home, you want to protect your ownership from any legal issues that may arise. This is why title insurance is crucial for any homebuyers.  Title insurance provides protection in case there are any issues with the title to the property you are purchasing. This may include any legal claims or disputes that may arise after purchase. But not everyone understands what title insurance is, how it works, and why you it is important. In this blog post, we will explore the basics of title insurance and why it’s crucial for homebuyers.

What is title insurance?

Title insurance is an insurance policy that protects you against any losses that may arise from mistakes or defects in the title of the property you are purchasing. It provides coverage for a range of potential issues, such as unknown liens, fraud, forgery, or other issues that may arise with the title of a property.

Why do you need title insurance?

Title defects can happen for a range of reasons, including errors in public records or mistakes in previous transactions. Without title insurance, you could face significant financial and legal consequences if a claim is made against your ownership of the property. Title insurance can protect you from these risks, giving you peace of mind and ensuring that you can enjoy your new home without any worries.

A title insurance company issues the policy after a thorough examination of the property’s title records. This ensures there are no issues or defects. If any defects are discovered after the policy issuance, the title insurance company will provide financial compensation to cover any losses incurred by the property owner or the mortgage lender.

In some situations mortgage lenders may require title insurance as a condition for issuing a loan. It is a one-time expense paid at the time of closing. The policy remains in effect for as long as the policy holder owns the property.

How does title insurance work?

You can purchase title insurance during the closing process and the policy protects you as long as you own the property. The cost of the policy varies depending on the location of the property and the purchase price. Typically, homebuyers will pay a one-time premium for the policy at closing.

What does title insurance cover?

Title insurance covers potential issues that may arise with the title of the property. They can include unknown liens, unpaid taxes, fraud, forgery, and more. It also provides protection for any legal expenses that may occur, such as hiring a lawyer to defend your ownership in case of a claim.

What are the benefits of title insurance?

Title insurance protects your investment and gives you peace of mind, allowing you to focus on enjoying your new home. It also reduces the risk of any legal disputes regarding your ownership, which can save you significant financial stress and potential legal battles in the future.

Buying a new home is a significant investment and one that requires careful consideration. Title insurance is an essential part of the homebuying process. It can provide valuable protection for any potential issues with the property title. As a homebuyer, it’s crucial to understand what title insurance is, how it works, and the benefits it can provide for you and your investment. Therefore, before you close on your new home, make sure you have coverage with a title insurance policy.

Still have questions about title insurance? Your lawyer will be happy to review it with you during your meeting when you’re signing your documents. This ensures you can have the peace of mind  and confidence in your choices.

The Real Risks of Being a Guarantor for a Mortgage

“I’ve just been asked to sign a guarantee for a mortgage, what does that mean?”

A guarantee is a legal promise or assurance made by one party (the guarantor) to another party (the beneficiary) that a particular obligation or debt will be fulfilled. Essentially, a guarantee is a form of security that provides the bank or lender with some level of protection in case the person responsible for the obligation or debt is unable or unwilling to fulfill it.

It’s not easy to get a mortgage, and some people may require a guarantor to meet the mortgage requirements. A guarantor is a person (i.e. you in this situation) who takes full responsibility for the mortgage if the borrower is unable to make payments. While serving as a guarantor can help your loved ones get a mortgage, it’s important to understand and evaluate the risks associated with being a guarantor. Before signing any papers, it’s essential to consider the worst-case scenario and what it might mean for your finances. In this blog post, we’ll discuss what it means to be a guarantor and explore the risks you may encounter.

1. Guarantor Risk Types and Relations

A guarantor takes full responsibility for a borrower’s mortgage if the borrower is unable to meet their payments. However, being a guarantor entails some risks, so it is important to consider these risks before being a guarantor. First, assess your relationship with the borrower. A guarantor’s risk varies depending on their relationship with the borrower. If the guarantor is the borrower’s parent, there might be a higher risk of involvement. Lenders may assume that parents are duty-bound to keep their children afloat financially. On the other hand, if the relationship is more distant (e.g., a co-worker or a friend), the risk may be moderate. In either case, it’s important to know the borrower’s financial situation before agreeing to be a guarantor.

2. Financial Risks

Apart from considering the borrower’s financial situation, it’s important to assess your financial position before becoming a guarantor. Make sure you can afford to meet the payments if the borrower defaults. Being a guarantor means you are legally responsible for the borrower’s debts, which may cause financial problems if you do not prepare in advance. You also risk damaging your credit score if the borrower misses payments, affecting your credit score. The credit reference agencies will link your financial details with the borrowers’. This may even prevent you from getting a mortgage, as lenders may see you are committed to someone else’s loan.

3. The Benefits of Being a Guarantor

Being a guarantor may have some benefits, particularly if the borrower meets their mortgage payments regularly. Acting as a guarantor helps build trust among people in your life, mainly if they rely on your support and guidance. Furthermore, the borrower can get mortgage access they wouldn’t have otherwise had, such as renting a home, buying a property, or paying for college. It can also help you prepare for potential financial responsibilities, such as helping your children, a family member or even a friend.

4. Legal Advice

Before signing any document, it’s important to seek legal advice. Legal advice helps identify and avoid any financial pitfalls associated with being a guarantor. These precautions include reviewing any legal documents and contracts, contacting the legal advice helpline to discuss the impact of the guarantor arrangement, assessing the risks to your credit score and budget, and ensuring that you understand the legal rights and responsibilities that you’ll have as a guarantor.

Becoming a guarantor for someone’s mortgage is a massive responsibility. It’s important to understand the risks, benefits and seek legal advice before signing any papers. Assess your financial position and ensure you can afford to take on someone’s mortgage payments before committing. Additionally, consider your relationship with the borrower, as this could impact your legal responsibilities. Ultimately, being a guarantor can be a rewarding experience. It can be a significant way to help someone closest to you, but it’s also important to remember that being a guarantor comes with financial risks and legal obligations. When in doubt, seek advice from a trusted financial advisor.

Need more clarification before signing anything on the dotted line? Reach out to us for assistance and advice and we would be happy to help!

Completing Your New Home Purchase

Congratulations on your recent Real Estate purchase! Buying a home is an exciting time, to ensure closing your property goes smoothly there are some important matters to attend to prior to your possession date.


If you are placing a new mortgage on your newly purchased home, it is important to ensure that all conditions of the mortgage are satisfied promptly. In the event these conditions are not met in a timely manner, interest costs may be incurred or possession may be delayed until all conditions are met to the satisfaction of the lender. 

If you are purchasing your new home with proceeds sourced from the sale of an existing property, and the possession of your new home is on or before the date for the possession of the property that you are selling, it may be necessary to arrange “bridge” financing. Your mortgage broker will be able to arrange this for you. 

Don’t forget to book your appointment 1-2 weeks prior to your closing date.


It is important to properly budget for legal fees as part of your closing costs. Ensure your lawyer is open with you about what fees are, and are not, included in the fee quoted, as well as what ‘surprise’ charges you may incur

At Summit Legal Group we strive to deliver the best possible legal service for reasonable and competitive fees. To avoid any unpleasant ‘surprise’ charges, we offer flat rate legal fees for Real Estate transactions which are inclusive of all regular disbursements and GST where applicable.

Included in our basic fees are the following:

  • Receipt of conveyancing and mortgage instructions;

  • Order Title and Tax searches;

  • Comprehensive review of existing Land Title;

  • Preparation of relevant transfer and mortgage documents;

  • Contact and meet with you to review and execute all documents;

  • Submission of executed documents to Land Titles office for registration;

  • Receipt and review of registered documents;

  • Receipt and forwarding of trust funds;

  • Forwarding of reports to you and your mortgage company.

If your transaction poses unexpected and extra time consuming difficulties, additional costs may result. Usually, such difficulties include Real Property Report non-compliance issues, such as encroachments or development permit applications. Title insurance may be required by your lender with associated costs.

YOUR APPOINTMENT (1-2 Weeks Prior to Close)

Once your lawyer has received all necessary documentation from you, your realtor and mortgage company, they will schedule your signing appointment. Any cash shortfall, funds required in addition to your initial deposit and mortgage proceeds will be due at this time.


Release of Keys:

On the day of possession, your real estate agent may offer a walk-through of your new home to ensure it is in good condition. Keys will be provided to you at this time. If you discover any significant damage to the property, I strongly recommend that you contact your lawyer immediately to discuss legal remedies.


You will need to arrange connection of the various utilities and related services by contacting the relevant providers of cable, electricity, gas, telephone, television, water and sewer. You may also wish to have your mail redirected to your new address.


To arrange for the appropriate insurance to be placed on the home your insurance company will require the date of possession, legal description of your property and an ownership description.

Property Taxes and Community Association Fees:

Your lawyer will adjust all real property taxes, community association fees and condo fees (if any), as of your possession date. If you wish to register for the monthly Tax Instalment Payment Plan (T.I.P.P.) with the City of Calgary, you may do so by calling 311 or 403.234.7480 or by requesting a T.I.P.P. application online via


It is likely that the purchase contract required the seller to provide a current Real Property Report to the buyer. The Real Property Report is a one-page survey of the lands, indicating the legal boundaries and any improvements on the land including the home, decks, air conditioning units and fences. We strongly recommend that you store this document in a safe place, as you may need it in the future should you decide to sell or refinance your home.