Frequently Asked Questions
Q: What is Pacy Law's role?
We're here to provide legal representation in the sale of your property. Obviously. What that means is we will draft and negotiate the Purchase and Sales agreement with the Buyer's attorney. Once that is complete we will prepare all of the conveyancing documents you'll need for your closing, such as the quitclaim deed. We'll also be making sure you have the property documentation from your Municipality to process the sale properly. We will resolve any title issues that are discovered by your buyer's attorney. Finally, we will handle the physical closing in your place, so you do not need to be physically present at the closing.
Q: What are the documents from my municipality you mentioned?
We're talking about things like the smoke certificate, final water, sewer, trash bills, etc. If you have a real estate agents, we'll be working with them on these things as well. This is important to make sure you aren't liable for any of these bills after the sale is complete.
Q: What does a title issue look like?
The buyer's attorney, or their lender's attorney, is responsible for certifying title. To do this, they'll find all of the documents related to your property that were recorded over the past 50 years, and make sure that none of them interfere with the buyer's right to use the property after we close. The most common example of this kind of issue is a mortgage that was never discharged (even though it was paid off in full), or was improperly discharged. If you have an Owner's Title Insurance policy from when you first purchased the property, it's a good idea to find it and send it to your attorney,. Your title insurance policy will resolve most title issues.
Q: What are the conveyancing documents?
This is the deed to the property that we will need to draft for you. There are also other documents that might or might not be needed, depending on the specifics. If you own the property in Trust, for instance, you'll need a trustee certificate. Sellers of condos need 6(d) certificates. If anyone who was on the last deed is deceased, we'll need a death certificate and a 65C affidavit for them. These are just examples.
Q: And I don't go to closing?
You don't, and you really don't want to. Going to closing feels a lot like watching someone you've never met sign legal documents for 60 minutes, and at the end of that you still have to wait a few hours to get your funds. It's much better to skip it - we will let you know when the closing is complete. We will discuss how the proceeds will be delivered to you, whether by check or wire transfer.
Q: What do I do next?
Once your Purchase and Sale is finalized and signed, we'll set up a time to meet and sign your conveyancing documents. These are the only things that need to be signed in person. If our office isn't conveniently located for you, please ask about handling these documents through the mail - this is possible but requires an extra step. You'll also receive a letter from us through DocuSign with a questionnaire attached that you'll have to complete. If you have a home equity line of credit on the property, make sure you provide the information for that as well as any other mortgages on the form.