780-951-1434 lisa@lisalast.com

Lisa Last talks with Andrew Cao of Kolthammer Batchelor & Laidlaw LLP in Edmonton, AB. Andrew shares his insights on the details of a signing appointment, what to know prior to the meeting, and the expected last expenses during closing.

Introduction

Andrew Cao of Kolthammer Batchelor & Laidlaw LLP in Edmonton, AB returns to discuss what clients should know going into a signing appointment and the biggest expenses in the closing process.

shutterstock_381796891

[0:19] What to Know Going Into a Signing Appointment

  • Clients often receive an introductory e-mail prior to the meeting.
  • Lineup house insurance prior to the appointment.
  • Be sure to have the insurance in place before waving conditions.
  • After conditions are waved, you lose leverage in the transaction.
  • It is ideal to sign the documents 5-7 days prior to closing the deal.
  • Bring two pieces of government issued ID and the insurance binder.
  • Have a stamped void check ready.
  • The most important thing is a bank draft or certified check payable to the law firm.

[3:18] What are the Biggest Out-of-Pocket Expenses?

  • Registering your name and having it on the mortgage title is the biggest expense.
  • These expenses can fluctuate, but your lawyer can provide estimates.
  • Remember about hypothetical interest, which is later reimbursed.
  • The meeting provides clarity on the remaining costs and what steps to take moving forward.
  • Budget for the remainder of your down payment, and set aside to some funds for potential additional fees.

shutterstock_113809330

Contact