Our Real Estate Notary Public Answers Popular Questions
Buying and selling real estate are pivotal moments in your life. The prospect of moving into a new home and giving your life a refresh should put a smile on your face. And at Morris Notary, our real estate notaries are dedicated to doing just that – we are committed to making the entire conveyancing process as easy and convenient as possible.
Since the conveyancing process could be complex, we thought we’d try to clarify some aspects of it by putting together these frequently asked questions. If you have any additional questions, or if you’re looking for a real estate notary yourself, make sure to get in contact with us!
1. What is a real estate notary?
A real estate notary helps you navigate the conveyancing process, which is the term for transferring the title on the property from the seller to the buyer. We’ll gather and prepare all the required forms and documents and ensure they are correctly filled out.
We cover all aspects of real estate law for buyers, sellers, commercial owners, and families.
2. How can a real estate notary help me?
Our real estate notary can help you:
- Buy and sell residential property
- Buy and sell commercial property
- Prepare a new mortgage or refinance your home
- Transfer the title of a property from one owner to another
- Buy or sell a business
- Create a co-ownership agreement
3. What is the typical conveyance process like?
The conveyancing process is different depending on whether you’re the seller or the buyer.
If you’re the buyer, we prepare the purchase and mortgage documents after reviewing the Contract of Purchase and Sale, and the lender instructions.
If you’re the seller, we ensure that the amount of sale proceeds you receive is correct and discharge the mortgage, if applicable.
To ensure a smooth transaction, we make sure to:
- Review the Contract of Purchase and Sale
- Perform a Tax Search
- Review the Title to your Property
- Review Strata Information
- Confirm Insurance
- Order the Title Insurance or Site Survey
Our real estate notary office makes sure that all documents are prepared and filled out correctly, ensuring that all parties are on the same page.
4. Can Morris Notary protect me against risk?
Yes, absolutely. Our team of lawyers and notaries public practice specifically in the area of real estate and have extensive experience representing our clients’ best interests. Some of the most common real estate conveyancing issues are:
- Mortgage Requirements – we work to ensure that all of the lender’s requirements are satisfied so that there are no delays with funding the mortgage on the completion date.
- Tax information – review property tax information and ensure the correct adjustments are made between you and the other side.
- Builder’s Liens and other financial charges – prior to registering the transfer, when acting for the purchaser, we conduct a title search to confirm that no additional financial charges have been added to title, and if so, we obligate the seller and their representative to remove those from title as part of the closing process
Our experience in real estate helps us identify risky situations that we openly communicate with our clients.
5. I’m a first time home buyer, are there any benefits for me?
Yes! The Canadian Government has the First Time Home Buyers Incentive Program. Make sure you speak with your mortgage specialist about the benefits of this program. It just might help you with the downpayment.
Also, the Province of British Columbia’s First Time Home Buyer’s Program reduces or eliminates the amount of property transfer tax payable if certain criteria are met. Our real estate notary would be happy to discuss this with you further.
6. How much does a real estate notary cost?
All of our work is unique to our customers. The cost is dependent on the transaction, but our real estate notary would be happy to provide a detailed quote tailored to your needs.
Have any other questions to ask our real estate notary? Want to schedule a free consultation to discuss any or all of the above? Get in touch with our real estate notary office today! We also offer mobile notary services meaning we come to you! If you’re looking to buy or sell real estate in Vancouver, contact us today.