When you have decided to sell your property it is important that your property is in a condition that can present it in the best light which allows it to be purchased at its maximum market value.
As a Seller you will be required to provide the following during the process of a sale:
- A “Letter of Intent to Sell” that:
– describes the property being sold
– expresses your intent to sell it to the buyer
– states the selling price
– any condition for sale.
This document is an essential requirement for the buyers lender to begin processing their loan application, if they are obtaining financing.
- Proof of legal ownership of the property and/or legal authority to effect a transfer of ownership of the property to the buyer.
- Details of any encumbrances/caveats that have been placed on the land.
- A copy of the Notice of Approval from the Physical Planning Division relating to a subdivision or change of use, if applicable.
Government Transferor’s Fee of 2.5% calculated on the selling price or value of the real estate being sold, whichever is greater, is payable by the seller.