If completing a sale, use this checklist to make sure that your sale is as successful as possible. Your agent will make sure to help you along the way of this transition.
Happy Real Estate Selling!
Utilities: Obtain evidence that all utilities paid up to date or evidence
of amount outstanding to be paid out of the sales proceeds.
Real Property Tax: Obtain evidence that all real property tax outstanding, if
any, paid up to date or evidence of amount outstanding to
be paid out of the sales proceeds. At the very least, obtain
the real property tax assessment number.
Insurance: Obtain evidence that all insurance is paid up to date to
cover the period pending completion of sale.
Identification: Obtain clean, clear copies of all relevant pages of all
parties’ passports for due diligence purposes and to answer
requisitions with regards to investment status and real
property tax assessments.
Back Documents: Obtain the original back title documents or ascertain where
the original back title documents are located
(for example, with the mortgagee bank) in order that the
same can be inspected by attorneys for the purchasers.
Inventory List: Obtain a full and complete inventory list if the property is
being sold furnished as this inventory list will be needed for
the Agreement for Sale.
Maintenance Fees: Obtain evidence that all condominium or other common
area maintenance fees are fully paid up for the relevant
Company Info: Supply company name and information if the property is in
the name of a company, ascertain if company already
incorporated or needs to be incorporated, etc.
Vendor Company Info: Obtain evidence that vendor company (if vendor is a
company) is up to date and in good standing with the
Companies Registry and obtain latest Declarations and
Returns indicating who are the officers and Directors
entitled to sign and sell on behalf of the company.
Expenses on Sale: Ensure that the parties clearly understand the outstanding
expenses, who will pay stamp duty, real estate commission
and legal fees, the total amount each party will need to pay,
and when the same are payable.
Restrictions: If the property has any restrictive covenants, make sure that
the purchaser has these documents.