Purchase of Residential Condominium Unit

We provide the following services for the purchase of residential condominiums:

  • Review of the agreement of purchase and sale and all accompanying documents, including review of declaration, by-laws, management contract, insurance trust agreement, and all other condominium documentation
  • Status Certificate: we will review your status certificate and some condominium documents included with the status certificate. You should always make sure your agreement to purchase a new condominium is conditional on a review by a lawyer of the status certificate. You should avoid making a firm offer to purchase a condominium before the status certificate is reviewed by a lawyer. I will generally try to review with either you and/or your real estate agent the status certificate immediately when I receive it. The status certificate can either be delivered to me by you or your agent, forwarded by email or fax.
  • You should advise me whether your unit(s) include parking or locker(s) so we can ensure these are provided to you on closing
  • Investigate title and check description
  • Search for arrears of realty and other taxes and rates constituting statutory liens, and work orders
  • Confirm common expense payments by current owner are up to date and there are no outstanding special assessments
  • Make requisitions on title and on other matters recited in the agreement
  • Review transfer
  • Review statement or adjustments
  • Attend to the closing
  • Attending on execution of documents

Information you will need to provide Cohen & Chasse when closing a purchase of a house or condominium:

  • Copy of your Agreement of Purchase and Sale including all waivers
  • Two original forms of identification: (1) Photo ID such as passport, driver's license, citizenship card (2) non photo ID such as a credit card. Please note that Provincial law does not allow us to accept Ontario health cards.
  • Status Certificate package from condominium corporation
  • Complete legal name (or names) of the person(s) who is to appear on the title, including date of birth, current mailing address, telephone numbers and email
  • Clarification whether you will take title on the new property as Joint Tenants or Tenants in Common
    • Joint Tenants: Where title is held as Joint Tenants and one of the owner's dies, the surviving joint tenant automatically becomes the property owner and no probate tax is payable – this is most commonly used by spouses.
    • Tenants in Common: When title is held as Tenants in Common and one of the owners dies, the deceased owner's interest passes to a beneficiary according to any last will & testament made by the deceased – in this case probate tax will be applied.
  • Forward Cohen & Chasse's contact details to your real estate agent & mortgage broker/lender (where applicable) as they will be faxing solicitor instructions to our office
  • If you are purchasing a non-condominium property, we require the fire insurance binder for the property (if you are purchasing a condominium property, we do not need a fire insurance binder from you)
  • Closing funds – your certified cheque and mortgage monies represent the funds needed and must be made payable to Cohen & Chasse in Trust. You will be required to present your certified cheque when you attend our office to sign your closing documentation.
  • Meter Reading (if your utilities are not included in your maintenance)
  • If the building you're buying is a high-rise, set up appointment for elevator prior to moving
  • Set up pre-authorized payment play or provide condo management office with post-dated cheques for your common expense payments
  • Advise if you are first time homebuyer as you will be entitled to reduction of Ontario Land Transfer Tax and if you are buying in city of Toronto, Toronto Land Transfer Tax

Sale of Residential Condominium Unit

We provide the following services for the sale of residential condominiums:

  • Review of executed agreement of purchase and sale
  • Supply copies of the declaration, by-laws, management contract, insurance trust agreement, up-to-date insurance certificate
  • Prepare transfer of title
  • Answer requisitions
  • Prepare statement of adjustments
  • Order a mortgage payout statement
  • Attend on execution of documentation
  • Attend to the closing and completion of the sale

Information you will need to provide Cohen & Chasse when closing a sale of a house or condominium:

  • Copy of your Agreement of Purchase and Sale - a copy is usually faxed to our office by your Real Estate Agent
  • Two original forms of identification: (1) Photo ID such as passport, driver's license, citizenship card (2) non photo ID such as a credit card. Please note that Provincial law does not allow us to accept Ontario health cards.
  • If not included in your common expenses, confirmation that you have contacted hydro and gas companies to arrange the final reading of your meter. (We advise that you also contact your hot water tank and/or security company to update their records)
  • We will need details of any existing mortgages or lines of credit against the property (name of lender, address & phone number, loan reference number)
  • Confirmation that your maintenance payments to the condominium corporation are up to date.
  • Current realty tax bill, including any existing property tax bill and any future bill received prior to closing as well as details of payments being made by you prior to closing
  • Your forwarding address and future telephone number
  • At least one key to the property - provided when you attend our office to sign all closing documentation and any other special keys or remote controls provided by condo corporation