Real Estate Talk: Preparing
to move before signing
After all conditions are satisfied and before going to the notary
By Joseph Marovitch
August 2, 2023
There are steps in selling a residence and moving that include preparing to move, listing the property, showing the property, receiving an offer, accepting an offer, navigating, negotiating through all the conditions, and finally having the bank and notary perform their work.
Once all conditions of an offer are satisfied, even though the signing has not taken place yet, the property is legally purchased and the buyer can start to make preparations to move.
This all takes time, however, there is another step after all conditions are satisfied and before signing at the notary. That step is preparation to move. Once all conditions of an offer are satisfied, even though the signing has not taken place yet, the property is legally purchased and the buyer can start to make preparations to move.
Preparations include the following:
- Cleaning your current residence and getting rid of items no longer needed. To do this you can call donation centers, drop items off at pick-up zones or call 1-800-GOT-JUNK, a company that removes and disposes of waste but donates useful clothing, furniture, and other items to those in need.
- Forward your mail by going to the nearest Canada Post outlet and completing a form to redirect your mail for the next 6 or 12 months.
- Acquire home, liability, and content insurance for your next property.
- Inform all your doctors, lawyers, and other services of your change of address.
- Inform your banks and credit companies of your change of address. You can go to the following website and follow the instructions to inform all government offices of your change of address simultaneously: homes-and-housing/moving-new-address.
- Contact and arrange for a moving company – AMJ Cambell, Bust A Move, Kenwood, King Transfer Vanlines. A very good reference that can be found on the web is Moving Waldo, a site that provides all the information required with a complete checklist.
Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.
Next article: The market’s moving barometer and how to manage it
State of the market
Bank Of Canada Rate today: 5%
Canada Inflation today: 2.8%
Despite the Bank of Canada’s interest rate of 5%, real estate values appear to be increasing. This can be due to lower inflation and thereby lower carrying costs. If the rate remains at or below 2.8%, we will eventually see reduced interest rates over the next few months, which will favor sellers and cause property values to rise.
‘Buyers can be sure of the price of a property and the rate now, or risk that the market may improve in the future but not know for sure.’
The market is uncertain, and we can only be sure of what is now, and what we know now is inflation is lower and rates are fluctuating from bank to bank. It is possible to acquire a five-year rate below 5% at some banks that believe the interest rates will decrease. Therefore, buyers can be sure of the price of a property and the rate now, or risk that the market may improve in the future but not know for sure considering all the outside geopolitical influences.
Should you have questions or comments please feel free to contact me via westmountmag.ca or look me up on LinkedIn. As well, to view past articles, click here.
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Joseph Marovitch has worked in the service industry for over 30 years. His first career was working with families from Westmount and surrounding areas, hosting children between the ages of 6 to 16 as the owner and director of Camp Maromac, a sports and arts sleep-away summer camp established in 1968. Joseph applies the same strengths of caring for the families, such as reliability, integrity, honesty, and a deep sense of protecting the interests of those he is responsible for, to his present real estate broker career. Should you have questions please feel free to contact Joseph Marovitch at 514 825-8771, or firstname.lastname@example.org