Oct 7, 2024
We are thrilled to have you with us. To help you navigate through the closing process smoothly, we have put together this guide. Follow the steps outlined below to ensure everything goes according to plan. If you have any questions along the way, don’t hesitate to reach out.
1. Join the PassGo Portal
The first step is to join the PassGo portal, a secure space where we can communicate and share important documents. You should have received an invitation to join the portal via email. If you haven’t received it, please check your junk mail. If it’s not there, inform us immediately so we can send you a new link.
2. Completing Your Digital ID Verification
We verify your ID digitally using Treefort Technologies. This system is designed to reduce fraudulent activity by ensuring that our clients are who they claim to be.
To complete a Treefort ID verification, you will receive a link via email to submit two valid forms of government-issued identification, such as a driver’s license or passport. Additionally, you will be asked to take a selfie to match your ID photo with your real-time appearance. Once submitted, the technology will verify the authenticity of your documents and your identity.
If you’d like more information about Treefort Technologies, check them out here.
3. Get Ready for Your Signing Appointment
If you’re signing virtually, your documents will be uploaded to the portal the day before your signing appointment. Please review them and print the ‘DOCS TO PRINT’ PDF. Ensure you don’t print double-sided, as these documents will need to be signed with the lawyer during your appointment. We’ll also provide a courier label for you to return them to us.
Check your calendar invitation for the meeting link. Just have a device with a camera and an internet connection to join.
If you’re signing in person at our office, we’ll have all the documents ready for you to review at your appointment. Just bring your government-issued picture ID.
4. Don’t Forget Your Home Insurance
When buying a home, it’s important to have financial protection against risks such as theft, fire, and wind damage. If you’re getting a mortgage, we’ll need a copy of your homeowner’s insurance binders before closing.
For condo owners, the condo corporation’s policy may cover the main structures and common areas, but you’ll need your own policy to protect your belongings and any improvements to your unit.
We’ve partnered with Insurely https://insurely.ca/ to provide you with quick and easy online home insurance. Use the Partner Code ‘Passgolaw’ to save $50 on your premium.
5. Getting Your Down Payment to Us is Easy
In your document package, you will receive a breakdown of the funds required for your down payment. There’s no need to rush to the bank before your signing appointment. Simply send us the funds at least 2 business days before your closing or possession day.
If you have a TD Canada Trust account, go to the branch and ask for a direct transfer to our TD trust account for the required amount. If you have an account with another financial institution, please make a deposit through a wire transfer.
We will provide you with our account details when you receive your documents.
Don’t forget to send us a copy of your deposit receipt so that we can confirm the receipt of funds.
6. Important Information About Your Property Tax Adjustment
When you buy a property, the total purchase price will include your annual property taxes. This is known as a property tax adjustment. The good news is that you only pay for the taxes during the time you own the property.
To make things easier, we will calculate this adjustment on your statement of adjustments. If the seller has already paid the property taxes for the year, you’ll need to reimburse them for your share. On the other hand, if the seller hasn’t paid the property taxes, they will reimburse you.
If the property taxes haven’t been paid for the year, you will need to ensure they are paid. This can be done by either making a lump sum payment or enrolling in the monthly tax installment payment program offered by your municipality. This is necessary even if your mortgage will cover the property taxes for you.
If you’re still confused, don’t worry! We’ll go over the property tax adjustment again during your signing appointment.
7. Preparing for Your Closing Day
Before your closing date, remember to set up your utility accounts. If any seller conditions in the contract are not met, please inform us promptly.
On your closing day, we will confirm that the funds have been sent to the seller’s lawyer. You can collect the keys at the time specified in your purchase contract. To arrange the collection, please contact your real estate agent.
Congratulations on your new home and enjoy your moving day!
8. What Happens After Your Deal Has Closed?
Once your deal is complete, we will send you a copy of your title after registration. Please note that this process can take up to 3-4 months in Alberta.
Additionally, ensure that you have arranged to pay your property taxes if they are not already paid in full for the year. You can do this by contacting your municipality.
If you purchased a condo, make sure to reach out to your condo management company to provide your details and set up direct deposit for your condo fees.
Finally, don’t forget to keep your final report, title insurance policy, and real property report (if applicable) in a secure place. These documents will be needed if you decide to sell your property in the future.
Thank you for choosing PassGo Real Estate Law. We wish you the best in your new home.
Hi! I’m Erin Crocker. I’m a real estate lawyer with over 10 years of experience in Alberta and British Columbia real estate law. I love technology and efficiency. I’m on a mission to create a modern, digital closing experience for buyers and sellers through technology, transparency and sharing knowledge.
