What to Expect

Whether you are buying, selling, mortgaging or leasing your home, multi-unit residential complex or condominium our staff are happy to assist you with any and all of your residential real estate needs.

Retaining Strike & Phillips LLP to assist with your transaction is easy. Simply ask your real estate agent to forward a copy of your real estate purchase/sale agreement to the firm along with your contact details. Let us know the best way and time to contact you so that we can confirm the necessary details to open your file.

When you utilize our services to purchase a home you can generally expect the following:

  • Upon receiving a copy of your offer, we will contact you to confirm your name, address and contact information.
  • Following waiver of any conditions in your purchase agreement, we will then begin to work by searching title to the property along with any required off title searches (e.g. building inspection, zoning, taxes, etc.), or we may recommend title insurance if it is more cost effective or secure.  If we run across anything unusual during the search process, we will contact you to discuss the issues and to review the options for dealing with the matter and to seek your instructions for proceeding further.
  • At the same time we will work with your mortgage broker or your chosen financial institution to obtain their instructions for preparing your mortgage, if any, and we will also advise the vendor’s lawyer as to the manner in which you are taking title to the new property (Registered Owner, Joint Tenants, Tenants in Common, etc.).
  • We will usually contact you about a week before the chosen closing date to inform you of the dollar amount that you will be required to provide in order to close the transaction and to set up an appointment for you to meet with one of  the Strike & Phillips Real Estate Lawyers a day or two before closing to meet to review and sign all of the closing documentation.

Estimating cash needs for closing can be difficult. We advise clients to ensure that they take into account any amounts that the mortgage lender may deduct from your mortgage advance – e.g. If you are mortgaging for more than 80% of the value of your home, keep in mind that your lender will be deducting Provincial Sales Tax on the amount of your CMHC fee along with in most cases appraisal fees, wire fees and other administrative costs.

Adjustments for oil/gas (if applicable), property taxes and in the case of condominiums, likely an adjustment for common expenses. You will need to provide us with proof of insurance coverage on your new home in an insurance binder provided by your insurance agent. Your agent will need to have the address and name of the mortgage lender to show their interest on the insurance policy. You must also be sure that you’ve met any specific conditions that your lender has set out to you in their mortgage offer.

Strike & Phillips LLP has been serving the community of Clarington including our home town of Bowmanville and surrounding areas including Oshawa, Whitby, Peterborough, Cobourg, Ajax, Pickering and the Greater Durham Region since 1925.

Call us at 905.623.5791 or try our email form on our Contact Us page.