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REAL ESTATE SELLER INFORMATION SHEET

Congratulations on your recent real estate sale and we thank you for allowing Cornerstone Law Group LLP to assist you in the conveyancing for your home.This information sheet attempts to answer many of the commonly asked questions seller’s pose regarding their transaction.We trust that you will find this information helpful, but if you have further questions, please call either Jordan Potiuk at 403.296.1717 or Tom Harrison at 403.296.1728.

SERVICE COMMENCEMENT

We begin our work on your file as soon as we receive a copy of the real estate sales contract (the Purchase Agreement) from you or your realtor.At that time, one of our real estate paralegals will contact you to confirm that we have received the documents, and to answer any preliminary questions that you may have.In the event that you have not been contacted by our office within 14 days of your closing date, please contact Jordan or Tom at the above numbers.

YOUR APPOINTMENT

Once we have received all the necessary documentation from you or your realtor, we will arrange for an appointment at our office.

You will need to bring in the following:

  1. Picture identification (Driver’s License or Passport ANDSocial Insurance Card or major credit card);
  2. A current Real Property Report, with a Certificate of Compliance endorsed thereon (please see below).

Cornerstone Law Group is presently located at 225, 10655 Southport Road S.W., Calgary, AlbertaT2W 4Y1.Our fax number is 403.258.0020.Should you require directions, please call 403.296.1700.

FEES

Cornerstone’s practice philosophy is to deliver the best possible legal service for reasonable and competitive fees.We make every effort to ensure that our fees are as competitive as possible in the Calgary marketplace.

If you would like an exact fee quote for your transaction, please contact Jordan or Tom and they would be happy to provide this information to you.

Included in our basic fees are the following tasks:

  1. Receipt and review of conveyancing instructions;
  2. Order and review of Land Title and municipal tax searches;
  3. Preparation of Statement of Adjustments and Transfer of Land and other relevant documents;
  4. Review Real Property Report;
  5. Contact and meet with you to review and execute all documents;
  6. Submit Statement of Adjustments and Transfer of Land to Purchaser’s solicitor;
  7. Receipt of funds from Purchaser’s solicitor.Pay out all financial encumbrances on title and deposit sale proceeds to the seller;
  8. Receipt and review of Land Titles once all financial encumbrances have been discharged off title, and forward clear title to Purchaser’s solicitor.

If your transaction poses unexpected and extra time consuming difficulties, additional costs may result.Usually such difficulties include Real Property Report non-compliance issues, such as encroachments or development permit applications.

POSSESSION DETAILS

Release of Keys:

On the day of possession we will contact your real estate agent once keys are able to be released.

Services:

You will need to arrange for the disconnection of the relevant utilities and related services by contacting the providers of gas, telephone, television, water and sewer.You may also wish to arrange to have your mail forwarded to your new mailing address.

Insurance:

You will need to arrange to have the insurance policy cancelled following possession being passed to the Purchasers.

Property Taxes:

We will adjust all real property taxes as of your possession date and we shall review the details of this with you during our meeting.However, please note that if you are paying your taxes to the City monthly (TIPP) you will need to cancel the TIPP’s plan.This may be done by calling 311.

Real Property Report:

Normally, the purchase contract that is commonly used in Southern Alberta will require the seller to provide a current Real Property Report along with evidence of municipal compliance to the purchaser.We would ask that you ensure that your Real Property Report shows all improvements on the land.i.e. all buildings (with the exception of small moveable sheds), fences, air conditioning units and decks.We would also ask that you ensure that the City has stamped a Certificate of Compliance stamp on the Real Property Report.If you have any questions in regard to your existing Real Property Report, we would invite you to call us to discuss your concerns.

Final Report:

Once your transaction has closed, we shall forward to you a reporting letter, together with a copy of the Statement of Adjustments and our Trust Reconciliation Statement, which details all adjustments made and accounts for all funds received and disbursed on your behalf.

We hope you have found the above information helpful.In the event that you have questions, please do not hesitate to contact our office.Thank you for allowing Cornerstone Law Group to assist you with your transaction.We look forward to meeting with you.If you have any comments or suggestions regarding this information letter, we would be happy to hear from you.If you are impressed with our service, please mention us to your friends, realtor and banker.We would further invite you to contact us regarding Wills and Estates as we possess extensive experience in this area of law as well.We appreciate your referrals as we count on referral business for the success of our practice.