Now that i've decided to use Feld Kalia to sell my property, what do I need to do?

Once we happily confirm that we will be taking care of your upcoming sale. We confirm that our fees are $1,050.00 all-inclusive. We request from you, at this time, the following:

Would you kindly,

• Fax or have your agent fax the Agreement of Purchase and Sale to us as soon as possible to the number listed below;
• Provide us with the full names and contact information for each individual involved in your sale including address, phone number(s) and email address(es);
• Provide us with the marital status and/or relation of or to each individual;
• Email (preferred) or fax us two pieces of I.D. (both sides) for each individual that is on title. The first piece of I.D. must be a photo I.D. (preferably a driver’s license) and the second can be a credit card (or something like that). A Health Card is not acceptable for privacy reasons. This information will only be used to verify your identification;
• Advise if you have any tenants;
• Advise if each individual is a resident of Canada;
• If you have a mortgage or several mortgages (or lines of credit), email us with your lending institutions’ (mortgage) information including contact information (email address as well if possible) so that we can immediately request a mortgage discharge statement. Please provide us with the loan numbers; Please also provide us with the address and phone number for the “servicing” branch where your mortgage(s) is/are being held;
• Email (preferred) or fax us your “FINAL” property tax bill/realty tax information to us;
• Cancel any pre-authorized payments you may have set up with your bank for (1) condominium fees (if applicable) and/or (2) property taxes for the month following your closing (for example if your closing is any time in August, you would cancel any September payments, going forward); If necessary, kindly advise all necessary utilities (water, hydro, gas, telephone and cable) that you will be selling your property and provide them with the closing date. Ask for a final reading to be done on any utilities which require it. For Tax and Water, you can call (416) 338-4829. For Hydro, you can call (416) 542-8000; and
• Kindly provide us with your forwarding mailing address.

I've just sold my property with Feld Kalia. What are the final steps involved?

Once everything has been completed successfully with your sale and your funds are ready for pick up, our office will then pay off your mortgage (this should be reflected in your accounts in a few banking days). 

Our office will mail out your agent's commission cheque the same day, if any is required.  If money is owing to you from your agency, we will advise your agency accordingly. 

I am getting a Bridge Loan, what do I do now?

You are likely getting a bridge loan because you are purchasing a property before you are selling another property.  The bridge loan "bridges" the gap between these two dates and allows you to have sufficient money to close your purchase.

Once we receive our "bridge loan instructions" from your lending institution, we will email them to you for your perusal.

Have a look through.  If you are satisfied with the terms, we ask that you print and sign the documents in the appropriate places (your names will appear where you have to sign) and in some cases (clearly marked on the instructions) you will have to have a witness sign the document as well (the witness must be someone who is not related to you).  After that, email or fax the signed documents to us.  We will then forward the documents to your lender so that we can be funded on the day of closing.

Please ensure that you bring the originals to our meeting which will be scheduled shortly before your closing.

I've just received my Power of Attorney documents. What do I do?

Once we email you your Power of Attorney ("POA" ) documents, all you need to do is:

• Print three (3) copies of the attached POA (on legal sized 8.5" x 14" paper); 
• Attend at a notary's office and ensure you initial the bottom of every page and sign the last page;
• Make sure you attend at the notary's office with at least one witness (who is not yourself);
• Have the one witness initial every page and sign the last page; 
• Have the notary initial every page and sign and seal the last page (as a witness); 
• Have the notary write a letter confirming he/she has examined your identification and is satisfied as to your identity.

Fax them immediately and courier the original documents to our office.

We are approaching the sale date, is there anything we need to do?

Typically one to three days before the closing of your sale, we will be providing you with:

• A "Commission Statement" which details the commission owing to your real estate agent.
• A "Mortgage Discharge Statement" which details any amounts owing for your mortgages/lines of credit.  
• A "Statement of Adjustments" which describes the necessary adjustments to be made with regard to the transfer of the property from you to the vendor.  
• And a "Trust Ledger" which describes how the funds will move through our Trust account on the day of closing and how much money you will be receiving from us by way of bank draft/certified cheque.

We'll have a meeting to sign the relevant paperwork.  The latest we can have a meeting is the morning of your closing before 10:30am.

Please remember to bring 3 pieces of identification and any/all keys.

After the sale, you will be instructed on how to obtain your proceeds from the sale.

What happens on the day of closing?

On the day of closing, F|K is doing a lot to get you your keys.  You don’t have to worry – we have it covered.

Once your mortgage funds have been successfully received by us, we complete the banking on your file.  Then, your signed closing documentation, along with the funds you have given us, along with the mortgage funds, will be dispatched by courier to the vendor's lawyer.  We will also have your keys on site in most cases.

We then simply wait for the electronic registration to take effect and you will be able to pick up your keys!  This typically occurs between 3:30 p.m. and 5:00 p.m.  We will advise you the second your keys are ready for pickup.

What is FINTRAC?