Question We are selling our home privately "as is". An offer is being drawn up. What documentation, as homeowners are we required to produce to the buyer? There is still a small mortgage left on the home. If we need to produce a deed, where would we obtain that?
Answer Hello Donna. Selling a home privately is just like selling a home if you had an agent but you will not be covered by any errors and omissions insurance. You should be careful with accepting any offer and read it very thoroughly. There are a lot of things that can come back to haunt you if you do not have experience in the offers and clauses. I would make sure you take the offer to your real estate lawyer for review before you sign it back. You do not need a deed but you will likely be required to transfer the home free and clear of debt as would be stated in most offers. You will need to make sure you can transfer or port your mortgage. Most of them are able to do that. But like I said above. Lawyer lawyer lawyer ! Don't sign anything until he explains it all to you and you are protected. Good luck!
Residential Real Estate Questions in Ontario such as financing possibilities, clauses, how to choose the right agent, buying/selling your home/condo and anything else that relates to real estate trading such as what my home is worth or tips and hints for how to protect yourself as a buyer or seller.
Residential Real Estate Agent in the City of Toronto for Royal LePage, Signature Realty.
Organizations Toronto Real Estate Board
Canadian Real Estate Association
Royal LePage Signature Realty
Education/Credentials Carleton University, B.A. and Business Management from U of T