ANSWER

• Review the Agreement of Purchase and Sale to ensure that all conditions have been met;
• Make contact with the Client;
• Respond to the purchaser’s lawyer’s requisitions;
• Prepare a Statement of Adjustments and vendor’s closing documents;
• Communicate with the Client’s bank or mortgage company to obtain Discharge Statement;
• Receive the real estate commission invoice;
• Meet with the Client 2-3 business days prior to closing date to:
     o have the Client sign the transfer (deed) and seller closing documents;
     o review mortgage discharge documents and sign documentation required for closing;
     o obtain proof of identification for fraud prevention purposes;
     o review the Agreement of Purchase and Sale with the Client to ensure that all conditions in the offer have been met;
     o review the Statement of Adjustments, mortgage discharge statement, real estate commission invoice and other bills to be paid from money received on closing; and 
     o review the closing procedures with the Client.
• On the date of closing:
     o Receive closing funds from the purchaser’s lawyer and hand over the keys and vendor’s closing documents;
     o Release the transfer for registration;
     o Pay out existing charge (mortgage);
     o Pay out other selling expenses, such as real estate commission and outstanding taxes;
     o Deposit the net sale proceeds to Client’s bank account or prepare a cheque for the Client; and
     o Notify the Client by telephone that the transaction has been completed.
• Prepare and send a report to Client’s forwarding address.