Selling your property
8. Participate in the inspection and meet the conditions of sale
The offer is signed and you’re at the step where you need to meet the conditions of sale. One of these conditions is a property inspection, crucial for the sale of your home.
Follow Eureka.House coaches’ advice below, and everything will go smoothly.
1. Unclutter areas
The inspector will inspect your entire home, enter all rooms, test the plumbing and check a million and one things you might not have even noticed before.
Before the inspection, unclutter all areas to make access easier for the inspector: below the sink, around electrical panel, etc.
The same goes for any tests (vermiculite, water quality, etc.)that the buyer wants done.
2. During inspection, keep calm and be polite
It’s an inspector’s job to present a realistic assessment of your property.
If the inspector finds a problem, panicking will only worsen the situation. The last thing you want to do is to upset the inspector. Treat the inspector with respect like you would any professional.
It is a wise idea to pre-inspect your home before putting it on the market.
3. Meet all conditions of sale and wait for the final answer
The accepted offer includes certain deadlines by which the buyer must meet each condition of sale , such as obtaining a mortgage.
Make sure you know the deadlines and that the buyer respects them.
For example, an accepted offer includes a deadline for the results of the inspection or tests. If a buyer is dissatisfied with the inspection or test resultsbut does not get back to the seller before the deadline expires, the buyer loses the right to cancel the offer
It is important that you cooperate with the buyer, so that the inspection and any other tests can be carried out. If you do not make yourself available, you will be held at fault and the buyer can cancel the offer.
4. Once all conditions have been met…
If all conditions have been met, you are just one step away from selling your property. All that remains is meeting the notary to sign the deed of sale.
Now it’s time to plan:
- Your move
- The cancellation or transfer of your utilities
- Your change of address
- credit cards
- with Canada Post
In the meantime, do not cancel or transfer your mandatory insurance. If you do so and something happens to the property before the new owner takes possession, you will be responsible for the costs of any damages, which could be as much as the building’s value. Talk to your notary.
Now it’s time to prepare for the meeting with the notary.