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Used Home Purchase Checklist

Title To The Property Alternatives

  • A and B “as joint tenants” means each party owns 50% but in case of death, the survivor will receive the full property.
  • A and B “each as to a 50% undivided interest” means each party owns 50%, but in case of death, the property will go to the beneficiary in the Will.


In addition to purchase prices, you will have to pay some additional funds for interest for realty taxes, assumed tenants, if any, and additional extras where applicable.

Goods And Services Tax (GST)

There is no G.S.T. for resale of homes. Normally no GST is payable if the house has not been subject major renovations.

Special Conditions

This property might be subject to conditions which were established by the Subdivision Agreement. The lawyer cannot ascertain those until a Title Search has been conducted. Those conditions should be listed in the Agreement of Purchase and Sale by the Vendor. They might concern:

  • noise control
  • trains
  • schools
  • park noise
  • etc.


Without the existence of up-to-date survey showing the exact location of building, structures and fences, the lawyer would not be able to certify the property complies with zoning by –law and if there any encroachments. My advice is always to obtain up-to-date survey because financial institution might request same. This problem might be resolved by purchasing title Insurance.

Closing Date

On the closing date the Purchaser should be in possession and the Vendor should be out of the property. If the Purchaser wants to move in before or if the Vendor wants to remain after closing, there should be appropriate insurance purchased. I never recommend that the Vendor should be permitted to remain on the property after closing because of the many risks involved.

Chattels Included In Purchase Price

Please ensure that you list exactly all the items, which are to be included in purchase price. We should also insist on functioning equipment and all right to inspect same before closing.

Inspection Before Closing

You should have an inspector inspect the whole property before closing. You should also reserve the right to see the property on a few occasions before closing.

Financing / Insurance / Life Insurance

  • If you finance with a Bank/Trust: make sure your Application is approved.
  • If I have to do the Mortgage documents, I require the mortgage documents as soon as possible;
  • I recommend that you obtain Life Insurance for the mortgage;
  • The closing cannot take place if you have no fire insurance for your house. Please provide your agent’s name and telephone number.

Signing Papers / Closing

  • We will meet again about 15 days before closing to review the status of file;
  • You will come to sign the papers 2 or 3 days before the closing, at the time, I will give you the statement regarding the funds required for the closing;
  • The funds for closing should be brought to me the day before closing by certified cheque.
  • On the day of closing: we will speak to each other around noon; I will tell you when I will meet with the lawyer at the Land Registry. Then we will confirm that closing has been completed. Usually, for new homes, the key will be available at the building site office.

Will And Power Of Attorney

I recommend that you consider making a Will and a Powers of Attorney for Property and Personal Care, so as to leave clear instructions to deal with your assets and avoid the property going to unknown beneficiaries. The Powers of Attorney will be use in case of mental incapacity. It is a very useful tool to permit the administration of your estate.


Please provide:

  • Name and telephone of Mortgage Broker;
  • Name and telephone of Fire Insurance Agent;
  • Two pieces of identification for each owner of the property.