Blake understands that buying a house or a condominium is, for the majority of people, the biggest investment that you will make in your lifetime. Whether you are a first-time home buyer or an experienced real estate investor, we will efficiently manage and guide you through the process to make it as smooth and painless as possible.
Your Choice for All Your Residential Real Estate Needs
Getting Started
Please do not hesitate to contact us anytime at (403) 288-6500 or email blake@blakenichol.ca. Once you have purchased a property, we will require the following:
1. A copy of your purchase contract
Please instruct your Realtor to email us a copy as soon as possible.
2. Your mortgage instructions
Please provide our contact information to your financial institution and request that they provide us with your mortgage instructions as soon as possible.
3. Proof of insurance
If you are buying a house (or a condominium that requires you to have your own insurance) and are obtaining mortgage financing, please have your insurance agent email us a copy of an insurance binder letter confirming that you have insurance coverage effective on your possession date with the first loss payable in favour of your financial institution; and
4. Completed client ID form
(Download here). We will advise you of the identification that we require from you prior to our meeting.
Meeting with You
We will contact you to advise you of anything else we require and to schedule a meeting with you to sign your purchase documents. We will usually meet with you approximately one week prior to your possession date.
We will also advise you of the amount of the closing funds that we require from you in order to complete your transaction. All closing funds must be in the form of a BANK DRAFT made payable to Blake Nichol in Trust. We require closing funds about one week prior to your possession date and we will normally have you bring in your bank draft to our meeting when you sign documents. Closing funds will also include payment of all legal fees and disbursements as well as any amounts required for property tax, homeowners’ association fees and any other adjustments.
We will review and explain all purchase and mortgage documents so that you fully understand the contents before signing. The meeting will usually take about 30 minutes to one hour. You will always be meeting with Blake personally or with another lawyer, except in very infrequent instances when you may be meeting with one of our senior real estate paralegals.
Possession and Closing
Most contracts provide that closing funds are to be delivered to the seller’s lawyer in trust on or before 12:00 noon on the closing date.
You will usually receive possession of the property at or around 12:00 noon on your possession date. Sometimes, however, it will be earlier than noon and sometimes it will be later. You will normally receive the keys to your new property from your Realtor.
We will thoroughly review the closing and possession process with you during our meeting.
Reporting to You
Our goal is to provide you with our comprehensive reporting package within four to six weeks of your possession date, or earlier if possible. This could also be later depending on Alberta Land Titles registration times.
We will also return any excess trust funds that we are holding on your file to you with your reporting package by way of our solicitor’s trust cheque.
Please do not hesitate to contact Blake Nichol Law at any time regarding your transaction.
