Purchasing a Home
MEMORANDUM TO VENDORS OF RESIDENTIAL PROPERTIES
PLEASE NOTE: This memorandum has been prepared and is intended for your general information only. It is not held out and is not to be construed as advice with respect to your particular sale. Specific problems relating to your sale should be referred to your solicitor’s office. However, it is hoped that the information contained herein will be of benefit to you in understanding some of the more common aspects of a real estate transaction.
Agreement of Purchase and Sale
A lawyer should always be consulted before signing the agreement of purchase and sale. The lawyer will advise the client about the terms of the agreement and possibly become involved in the negotiation or even drafting of the agreement. Inasmuch as the agreement of purchase and sale is a binding contract, all rights flow from this important contract. Whether or not you are represented by a real estate agent we urge you to discuss the terms of the agreement before signing the document.
Nonstandard Additions to the Agreement
The Lawyer’s Role in Sale of a Property
Mortgages on the Property
Statement of Adjustment
When to Sign the Documents?
Closing The Transaction
Who Informs the Utility Companies?
After the Closing
We trust that this brief memorandum will be helpful and would ask you to keep in mind that the memorandum is not intended to be exhaustive nor does it cover every situation that occurs in real estate transactions
Source: Nancie-Anne Heaphy, Edward G. Manthorp, Sean B. Kelly, Elisha M. E. Kelly