• I have an accepted offer to sell my property! Now what?

    If you are new to selling BC real property, we recommend that you begin with a look at the general information found on our residential property FAQ’s page and rely upon the professional guidance of your Realtor. In addition, here is a checklist that although not exhaustive, you may find helpful to step you through the conveyancing process once your contract is firm and binding.



    SELLER’S CHECKLIST
    UPON FINAL SUBJECT CLAUSE REMOVAL (FIRM CONTRACT):
    – Advise your agent we will be representing you
    – At your convenience, complete our Property File Starter form (optional) to get a better idea of what we will need from you, save you time when the file is being opened, and communicate your information accurately
    – Consult with your mortgage lender, if any, for suggestions to mitigate possible payout penalty
    – Make moving arrangements, if applicable, including shift/cancel of utilities and insurance
    – Corporations or Estates ensure that their documentation will be in good standing by closing
    – If executing by Power of Attorney, ensure original can be located
    – Non-residents consult their accountants regarding CRA clearance
    ABOUT THREE WEEKS PRIOR TO COMPLETION:
    – Expect to hear from Carolynne Maguire to exchange details and establish your file with us
    – Expect to receive emailed confirmation/information from our conveyancing team
    – Contact us with any questions or new developments
    WITHIN THE WEEK PRIOR TO COMPLETION:
    – Attend at signing appointment to execute the required transfer documents (bring photo ID)
    – Direct how you would prefer to receive sale proceeds (collected from us or deposited by us)
    COMPLETION:
    – Transfer documents are registered at Land Title Office and sale proceeds released by buyer
    – Agents will be advised of registration number to confirm successful closing
    – Sale proceeds are distributed next business day
    POSSESSION:
    – Leave the property in the condition agreed upon in your contract
    – Leave with your agent or in the property:
    a. the keys / alarm codes / garage remotes
    b. appliance warranties / instruction manuals
    c. any notices (property tax, city utilities, garbage collection days, etc) of use to the buyer
    – Buyers will receive keys at the appointed time through their agent
    POST-TRANSACTION REPORTING:
    – You will receive final written confirmation of registration and sale proceeds to close the matter
    – Tell your agent and friends what a positive and efficient experience you enjoyed with us!
    YOUR NEXT PROPERTY TRANSACTION:
    – We look forward to working with you again!

  • My offer to buy a property has been accepted! Now what?

    If you are new to buying BC real property, we recommend that you begin with a look at the general information found on our residential property FAQ’s page and rely upon the professional guidance of your Realtor. In addition, here is a checklist that although not exhaustive, you may find helpful to step you through the conveyancing process once your contract is firm and binding.



    BUYER’S CHECKLIST
    UPON FINAL SUBJECT CLAUSE REMOVAL (FIRM CONTRACT):
    – Advise your agent we will be representing you
    – Advise your mortgage banker/broker, if applicable, that you will be working with us
    – At your convenience, complete our Property File Starterform (optional) to get a better idea of what we will need from you, save you time when the file is being opened, and communicate your information accurately
    – Make moving arrangements, if applicable, including utility hook-ups and insurance
    – Corporations ensure that their documentation will be in good standing by closing
    – If executing by Power of Attorney, ensure original can be located and lender has approved it for use with their mortgage documents
    ABOUT THREE WEEKS PRIOR TO COMPLETION:
    – Expect to hear from Carolynne Maguire to exchange details and establish your file with us
    – Expect to receive emailed confirmation/information from our conveyancing team
    – Contact us with any questions or new developments
    WITHIN THE WEEK PRIOR TO COMPLETION:
    – Expect to receive emailed preview of financial adjustments from our conveyancing team
    – Attend at signing appointment to execute the required transfer/mortgage documents (bring photo ID)
    – Provide balance due to close per statements of adjustments by way of bank draft or funds transfer to Maguire & Company, in trust
    COMPLETION:
    – Transfer/mortgage documents are registered at Land Title Office and sale proceeds released to seller
    – Agents will be advised of registration number to confirm successful closing
    POSSESSION:
    – Receive access to the property (keys, remotes, alarm codes) at the appointed time through your agent
    – Inspect the property to confirm it is in the condition agreed upon in your contract
    – Start enjoying your new place!
    POST-TRANSACTION REPORTING:
    – Agent will issue cheque for deposit interest, if any
    – You will receive written confirmation of registration and copies of documents for your file
    – You will receive a State of Title Certificate to close the matter
    – Tell your agent and friends what a positive and efficient experience you enjoyed with us!
    YOUR NEXT PROPERTY TRANSACTION:
    – We look forward to working with you again!

  • My mortgage financing application has been approved! Now what?

    If you are new to mortgaging BC real property, we recommend that you begin with a look at the general information found on our residential property FAQ’s page and rely upon the professional guidance of your banker or broker. In addition, here is a checklist that although not exhaustive, you may find helpful to step you through the financing process once your lender’s approval is confirmed.



    BORROWER’S CHECKLIST
    UPON LENDER APPROVAL:
    – Advise your mortgage banker/broker you will be working with us
    – At your convenience, complete our Property File Starter form (optional) to get a better idea of what we will need from you, save you time when the file is being opened, and communicate your information accurately
    – Consult with your existing mortgage lender, if any, for suggestions to mitigate possible payout penalty
    – Corporations ensure that their documentation will be in good standing by closing
    – If executing by Power of Attorney, ensure original can be located and lender has approved it for use with their mortgage documents
    ABOUT THREE WEEKS PRIOR TO COMPLETION:
    – Expect to hear from Carolynne Maguire to exchange details and establish your file with us
    – Expect to receive emailed confirmation/information from our conveyancing team
    – Contact us with any questions or new developments
    WITHIN THE WEEK PRIOR TO COMPLETION:
    – Attend at signing appointment to execute the mortgage documents (bring photo ID)
    – Direct how you would prefer to receive mortgage proceeds (collected from us or deposited by us)
    FUNDING:
    – Mortgage documents are registered at Land Title Office and mortgage is funded
    – Mortgage proceeds are distributed same or next business day
    POST-TRANSACTION REPORTING:
    – You will receive written confirmation of registration and copies of documents for your file
    – You will receive a State of Title Certificate to close the matter
    – Tell your banker/broker and friends what a positive and efficient experience you enjoyed with us!
    YOUR NEXT PROPERTY TRANSACTION:
    – We look forward to working with you again!

  • When can I preview my lender’s mortgage terms?

    Most major lenders have filed Standard Mortgage Terms setting out the legal terms, and means of enforcement thereof, for their relationship with the borrower. In fact, some lenders have more than one set of terms in order to differentiate among their various product offerings. If, however, a lender has not specified a specific set of registered terms, the legislated Prescribed Standard Terms will apply. Listed below by filing number are links to the various standard terms used by the named lenders. Our office will advise you which one will apply to your file in order for you to preview it before your appointment at which time a hard copy of same will be made available to you.


    General:
    BC Prescribed Standard Mortgage Terms
    CMHC Standard Mortgage Terms MT900183
    Institutional Lender Specific:
    Bank of Montreal (BMO)
    MT010108
    MT020095
    MT040108
    MT060107
    MT080127
    MT900108
    MT930048
    MT950018
    MT940005
    MT110095
    Bank of Nova Scotia (ScotiaBank)
    MT030091
    MT040090
    MT980024
    Canadian Imperial Bank of Commerce (CIBC)
    MT900102
    MT930004
    Envision Credit Union
    MT010118
    First National Financial
    MT090101
    MT090102
    Hongkong Shanghai Banking Corporation (HSBC)
    MT990017
    MT990021
    ING
    MT050093
    MCAP
    MT980017
    Merix/Paradigm Quest
    MT070114
    MT080089
    Royal Bank of Canada (RBC)
    MT010106
    MT050108
    MT900279
    MT131004
    The Toronto-Dominion Bank (TD)
    MT010101
    MT900130
    MT900131
    Street Capital Financial
    MT070115
    Vancouver City Savings Credit Union (VanCity)
    MT030114
    MT040092

  • Benefitting from the experience of others…

    If you are new to BC real property transactions, we recommend that you begin with a look at the general information found on our residential property FAQ’s page. Below, however, you will find helpful tips and stories based on the experiences of other clients. (Coming Soon)


    Once upon a time . . .