ANSWER

• Review the Agreement of Purchase and Sale to ensure that all conditions have been met;
• Communicate with the Client as required;
• Conduct a title search;
• Communicate with the seller’s lawyer regarding title issues;
• Receive mortgage instructions and prepare mortgage documentation;
• Receive and review the Statement of Adjustments and closing documentation from the seller’s lawyer;
• Prepare all purchase transaction documents;
• Meet with the Client 2-3 business days prior to closing date to:
     o have Client sign all closing documents;
     o obtain proof of identification for fraud prevention purposes;
     o receive proof of fire insurance;
     o receive Client purchase funds;
     o receive any other documentation required from the Client to satisfy all conditions of mortgagee;
     o review closing procedures with the Client; and
     o requisition mortgage funds from the lender.
• On the date of closing:
     o Receive confirmation from the Client that the final inspection has been completed;
     o Receive mortgage funds and deposit all monies to the lawyer’s trust account;
     o Meet with the seller’s lawyer to pay balance due on closing, receive closing documents and keys;
     o Register the transfer (deed) and charge (mortgage; and
     o Contact the Client to pick up the keys.
• Prepare and send reporting letters to the Client and the chargee a few days after closing.