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"Page 14 The Clarington/Courtiee Independent. Bowmanville, Saturday. April 25. 199S Closing the Deal on a Home Can be an Exciting Time This article is provided by local Realtors and the Ontario Real Estate Association (OREA) for the bene fit of consumers in the real estate market. It's an exciting lime. Your offer has been accepted. accepted. You can't wait to move into your new home. But don't start celebrating yet. There is one final stage involved in purchasing a home - closing the deal. Closing is the point at which ownership and usually usually possession of the prop erty is transferred from the seller to you. It takes place after the parties involved agree that all legal and financial obligations have been met. Your lawyer and your Realtor will do much of the work, but here's a checklist that will show you what to expect as the. process unfolds: • Make sure a copy of the signed Agreement of Purchase and Sale is sent to your lawyer right away. Your Realtor will usually do this for you. Your Del's Mortgage Watch Today's Best Rate for First Mortgages. * Best Rates as of April 22nd, 1998 ADJUSTABLE RATE MORTGAGE... 5.49% 6 Months 5.60% 4 Year... 1 Year 5.65% 5 Year... 2 Year 5.80% 7 Year... 3 Year 5.90% 10 Year 25 year ... .... 6.79% NOTE: We handle the transfer of an existing mortgage at No Cost! WE ALSO ARRANGE: • Second Mortgages • Credit Lines • Personal Loans CALL: DEL DYKSTRA 697-3300 FINANCIAL LTD. | Division Street MORTGAGES Bowmanville DELTON* jm ■■■iiiiiniiiiiiiiiiiiiii royal Lepage iiiii ■*■■■■■■■■■■■■ Real Excite Services Ltd Broker Frank Real Estate Ltd. and Royal LePage Working Together For...YOU! 234 King Street East, Bowmanville Telephone 623-3393 Toronto Line 686-103$ TRISHA ROMANCE BEAUTY Century solid brick 2 storey home on 1.89 acres. Green house kitchen overlooking perennial perennial gardens and 3 goldfish ponds, main floor family room with fireplace, spacious formal formal living room and dining room, 5 bedrooms, hoi lub, 2 - 4 pc. baths. 4 excellent oui buildings buildings used for restoring antiques. This properly properly must be seen! Jusl lisled al $349,900. Charlie Reid* 623-3393 or 983-5914. EXCELLENT VALUE Lovely 3 bedroom home in north end Bowmanville, ceramics, bright eat-in kitchen kitchen with walkout, cozy wood burning fireplace, gas heat. $138,500. Call Joan Deegan* 623-3393 (24hr pager). OPEN HOUSE SAT. APR. 25TH, 1-4 PM 2128 RUNDLERD. S., BOWMANVILLE Country Charm - $149,900. On 1 acre, this 3 bedroom bungalow has many upgrades. Custom kitchen with built-in stove, hardwood floors in living living room, central air, low taxes and heating costs. Call Vat Aston** 623-3393 or 623-4907. v ill! ils si PRICED FOR A QUICK SALE Just listed, 3 bedroom semi with remodeled kitchen, dining room, walkout and large L-shaped rec room with wood stove and bar. Don't wait! Call Joe Jeronimo** 623-3393 (24hr pager). JUST LISTED $159,900. Exceptional 3 bedroom home with main floor family room and fireplace, rec room, ceramic front hall, upgraded windows, great yard, close to everything. Don't miss out! Call Joe Jeronimo** 623-3393 (24hr pager). BRING YOUR ANTIQUES To this lovely 3 bedroom brick home with center hall plan, dining room, living room, fireplace fireplace and 1 bedroom in-law suite. $126,500. Call Dirk Woudstra* 623-3393 or 987-1350 lawyer needs to see any conditions that exist and the date you and the seller have agreed to close. The lawyer will ask you how you (and others involved in the purchase with you) want to be registered on the title to the properly. • Immediately begin satisfying any of the conditions conditions of the agreement that require your action. These have definite dates attached to them and if you miss one you may have to arrange an extension or possibly risk losing the entire deal. As each condition condition is met, the Realtor will fill out a waiver form for signatures. Note that most lawyers won't be doing many of the tasks they need to do for closing until the conditions arc waived. • Upon your direction and after the conditions have been met, your lawyer will begin searching searching title to the property. This can be an involved and time-consuming exercise exercise of going back through government records to ensure clear title and that it is transferable. The introduction introduction of electronic registration registration and title insurance will significantly change the way title on properties are transferred in ' the future. • If you decide to have the home inspected, your offer should contain a condition condition that the property pass inspection. • If no current land survey survey exists on the property, arrange for one soon. Your lender may require it, and you'll want it for your own peace of mind, anyway. • Contact your lending institution to begin the process of finalizing mortgage mortgage documents. Ask if your lawyer can draw up the documents; this will usually save money. If you have yet to apply for a mortgage, now is the time. • Your lawyer will contact contact the seller's lawyer with any questions or issues regarding title and costs. • Your lawyer will check with local utilities (hydro, gas, water) to ensure there are no outstanding outstanding claims and to get final meter readings on the day of closing. You should contact the utilities and telephone and cable companies companies well in advance to arrange for services in your name. • If you currently rent you will need to give notice. • Contact moving companies companies or truck rental firms to begin getting costs and making moving arrangements. arrangements. • Meanwhile, your lawyer is busy making sure that property taxes on your new home are up-to-date, local zoning and building restrictions have been met and there are no liens on personal property, such as appliances, to be sold with your house. You want your lawyer to make sure that what you've agreed to buy is what you'll get - nothing more or less. • If your lender is not going to draw up the mortgage mortgage papers, your lawyer will do this for you. When a vendor-take-back mortgage mortgage is involved, your lawyer will create this document document too. If you arc assuming an existing mortgage, mortgage, make sure you're qualified to assume it by contacting the lending institutions and have your lawyer review any documents documents you will be signing. • Send out change of address notices and fill out a card at the Post Office. Plan to notify the Ministry of Transportation right after you close for driver's licences, car registration, etc. • Well before closing, contact your insurance agent to arrange homeowner's homeowner's insurance coverage to become effective on the date of closing. Your agent can give you a "binder" letter, certifying coverage is in place. If you're moving moving from your current owned (rather than rented) home to another, your agent will handle the homeowner's insurance transfer for you. You may want to talk about mortgage mortgage life insurance with your agent as well, • Your lawyer will review and verify the draft deed, statement of adjustments adjustments and other closing information provided by the seller's lawyer and will deal witli any problems as they arise. • A day or two before closing, you'll meet with your lawyer to go over and sign the closing documents. documents. Bring the certified cheque(s) to cover costs involved. Your lawyer will let vou know the amounts in advance. The big day arrives. You don't need to be present, present, usually. The lawyers for both parties exchange documents, keys and cheques and then register the deed and mortgage. Soon thereafter you'll be given the keys to your new Now the celebration home. begins. EXIT REALTY SHIRMAX BOWMANVILLE BEAUTY Janet Mulder I Sales Represenlalive . * Two plus one bedroom bungalow Greal location ' Huge lot 66' x 165' ■ New gas furnace ' Snows greal! For more information call Janet Mulder 576-5300 I FRANKS | 234 King Street East Bowmanville Customer Satisfaction First Priority Commission Plans from 3.5% John Fowler Off. 623-3393 Res. 623-7928 r Real Estate Consultant mm 24 VAIL MEADOWS $149,900 Beautiful 3 bedroom link home in a quiet family oriented neighbourhood. Fully fenced rear yard with walkout from the kitchen, large 4 pc bath on the second floor, 2 pc bam on the main. Lovely kitchen and living room/dining room combination. The basement basement is finished and boasts a new gas fireplace. fireplace. Paved drive and an attachée garage complete this home picture. CALL RICK BATES 432-2000/986-1761 CHOICE OF/ SERVI! DURHAM REALTY INC 600 King Si. E„ |Z%|" Oslrawa, ON I L/C L1H1G6 cornerstone realty ltd., realtor 104 King St. £., Bowmanville ® mm A1(S dc Htiwirtl \mir 623-6000 ■ UPGRADED BUNGALOW 3+2 bedroom alum, model with 28 x 14 garage workshop, workshop, double drive, (in. rec room, large eat-in kitchen. Asking $128,900. Also: $15,900. $33,900. $45,900. $49,900. $129400. $133,500. $133,600. $159,900. $175,900. $239,900. David Passant** Assoc. Broker Over 23 Years of Service For a market evaluation of your home, please ask for David Passant**, Associate Broker, today! 623-6000, Start In this mobile home 12x60 mobile private spot, creek 3/4 acre building loi 2 ten acre wooded perçais Solid brick bungalow, In. rec room, 2 • 4 po. baths Newer Courtlce bung, on quiet court. Gorgeous 2 storey, fin. rec room, whirlpool lub All brick 1600 sq. ft., 5 bedroom Lovely 2085 sq. ft., 4 bedrooms, 4 balhs 3 acres, trout stream, 1600 sq. ft. rancher Ron Moore* Sales Rep. 623-6000 24 hr. pager 623-9263 (res.) IT'S A 10! $92,900. Excellent quality throughout. Ceramic entrance leads lo a finished rec room and 3 pc. washroom including shower, walkout to attached garage. This 3 bedroom condo towrinome features eat-in kitchen with loads of cupboards, cupboards, large living room/dining room, SGWO to patio. Shows to perfection. Carries less than rent with 5% down. To view this lovely home call Ron for an appointment. CHARM OF YESTERYEAR $148,900. § Lovely 3 bedroom, 1 1/2 storey sits on a 66' frontage lot in Bowmanville - features hardwood hardwood floors, large kitchen with lots of cupboards, cupboards, separate living room and dining room. 2 large bedrooms up, 1 down, separate 1 car garage, close to shopping, schools and churches. To view this neat home call Ron. Call Ron Moore now to view (905) 623-6000 24 hr. pager. $92,500. SUITS A FAMILY This well kept 3+ 1 bedroom town- home condo in Bowmanville features finished rec room, walkout to fenced yard, walkout to garage, 2 bathrooms, open concept living/dining living/dining rooms and kitchen. Nicely decorated, will carry less than rent with 5% down. CUSTOM BUILT SIDESPLIT Marg Bain* Sales Rep. Call for details at (905) 623-6000 ©j.p. Within easy walking distance to the Village of Newcastle is this 3 bedroom home on a 59 x 175 It. lot. The huge country kitchen has lots o( oak cupboards and a picture window with a view. The family room walks out to a nice deck and backyard and there Is also a rec room and 2 extra bedrooms In the spacious basement. Asking $189,900. Call Linda or Marg to see this lovely home. 'P i - ftriij a;;]* A GREAT LITTLE CENTURY home on a .40 acre lot with a terrific terrific view of the surrounding hills and countryside. 3 bedroom 1 1/2 storey with a huge unfinished attic room, hardwood floor In the living room, small bam and a new septic system. Asking $129,900. Call Marg or Linda. BEAUTIFULLY RESTORED CENTURY HOME Close lo Town and Country providing the best of both worlds and exuding charm and character throughout is this lovely 3 bedroom, bedroom, 2 slorey home situated on a 74 x 257 loot lot complemented by perennial gardens and a 1500 gal. lish pond. There Is also a 32 x 20 ft. studio with a lower level workshop ol the same size for the hobbyesl. Call Linda or Marg to see this beauty. Call Linda McLennan*' Associate Broker 623-6000 Frank Real Estate Ltd. and Royal LePage Working Together For..'. royal Lepage Real Estate Services Ltd., Broker ; !.. ; / i.iù\ 1 1 i i 1 n) /,\ \j ' 1 : ■ .! : |\ 1-.1 J L.l u : \ J V l IE A i; Great news ! Frank Real Estate Ltd. have joined the Royal LePage Associate Broker Network. What does this mean to you? Lots! This exciting new alliance with a team of over 165 Royal LePage, and Royal LePage Frank Real Estate sales people represents an unbeatable force and strong presence in the marketplace. We will now be better positioned than ever before to serve your home buying and selling needs. How do you find a great real estate agent? At one of our 8 locations throughout the Durham and surrounding region. Pickering (905) 683-1790 Oshawa (905)576-4111 Ajax (905) 683-7777 Bowmanville (905) 623-3393 Whitby (905) 668-6171 Boltcaygcon (705) 738-2327 Whitby (905)666-1333 Fenclon Falls (705) 887-3302 That's How!