Here’s What Happens Next!

Once your offer is accepted, your agent will have all of the finalized paperwork and will either send this to you directly or our Operations team will send all of this to you with the next steps. Once your lawyer and/or mortgage broker is determined, our Operations team will send them a copy of the Agreement of your property to begin the process on their end as efficiently as possible.



Within 24 hours of your offer being accepted, you must drop off the deposit to the listing brokerage outlined in the Agreement. If you need clarification on where to drop off the deposit or need any help, your agent or our Operations team can always guide you through this.



What is the conditional period?

If your agreement outlines conditions in Schedule A, you have entered what is referred to as a “conditional period”. Your offer will not be considered firm until all conditions are fulfilled. Standard conditions might include:

• Financing
• Home inspection
• Status certificate review (for condos)
• Lawyer review
• Others as it relates to your purchase



Your offer paperwork will outline deadlines for these conditions to be met, and who they are to be waived by.



Conditions are completed via Waiver, Notice of Fulfilment or Amendment that will be signed by the required parties and become a part of your offer paperwork. Our Operations Team and your Agent will keep you well informed along the way, to ensure everything is fulfilled by their required due date, and sent to the appropriate parties.





Within your accepted offer is a document named Schedules. This will outline other clauses that you should be aware of. For instance, there can be clauses for the Seller to fix a specific appliance or utility or can mention whether the property will be professionally cleaned prior to you taking possession. It is extremely important and valuable for you to be aware of these clauses to ensure they are completed.

Once your offer is firm (all conditions have been removed), the completed paperwork is forwarded by our Operations Team to your lawyer. At this time, if you haven’t already, it would be best to decide on the lawyer you would like to represent you for your sale and be sure to let our Operations Team/your North Group Agent know.



*If applicable

Whether you are buying or selling, one of the most important people that will be instrumental in a smooth close is your real estate lawyer. The lawyer’s overall responsibility is to make sure your paperwork is properly filled out in order for your transaction to go through. They are also responsible for conducting a title search, getting title insurance in place, registering the home in your name, draw up a Statement of Adjustments, and facilitate the financial transactions on closing day. If you are a Buyer, they will also release to you the keys to your new home.

If you do not have a lawyer, we are happy to provide a list of our recommended lawyers to you. Of course, who you choose to work with is ultimately your decision, and can vary based on your scenario. Common things you should look for in a real estate Lawyer are:

• If they are familiar with real estate law
• Competitive rates
• Experience in the property you are purchasing
• Familiarity with the area



Expect to pay around $1500 in lawyer's fees.