5 things that can go wrong on closing day
August 21, 2014
The fact is that when buying a home in Toronto, most home closings go smoothly – with the right mix of professionals (mortgage broker, lawyer, real estate agent), all the pieces fall into place and you are in your new home on schedule. Despite those statistics, it’s still a good idea to have a contingency plan.
I’ve written before about home closing insurance but Mark Weisleder recently wrote an interesting column with five examples of things he’s seen gone wrong on closing day. It’s hard to choose the worst – whether it’s an outstanding city permit or not even being able to get inside the home because not all the necessary keys were left but it also comes down to common sense. If there’s a family of skunks living under the deck, are you really going to let a transaction valued at north of half a million dollars hinge on a $250 pest control bill?
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