Whether it took you a year to find the perfect house or the entire transaction was only the span of a month – closing day is coming up. Here are some things to remember as the day approaches so that everything can run nice and smoothly.
Things to get ready for the purchase
The Mortgage. Make sure the all of the payment details have been arranged and that all necessary paperwork has been signed (after a thorough examination of the fine print). If you haven’t done so, at least the day before closing, set an appointment with your mortgage provider representative. If you are thinking about buying mortgage life insurance, check first – if you have other life insurance – if you’re already covered. For those who made a less than 20% down payment, they will require mortgage default insurance, which can be paid upfront or combined with mortgage payments. Canada Mortgage and Housing Corporation (CMHC) and Genworth Financial are two such providers.
The Move. It’s going to be a lot of work, I’m not going to lie to you. Even if you decide to go with professional movers, you’ll still have to sort through what you want to keep, throw out or donate. For helpful tips and checklists, check out Zoocasa’s Moving Tips Centre.
The Setting Up. Although it will be part of the moving process, you need to plan for set up of utilities, etc. for your new home. Once you have all your dates in place, call your providers to set up appointments (if necessary) to have your cable, internet, phone, etc. installed or activated. If you need to switch or open a hydro account for the new home, make sure you get that squared so there’s no mix up of unpaid fees by the previous owner.
