Oct 15, 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. Update Your Home Insurance
Updating the loss payee on your home fire insurance policy is a crucial step when refinancing your mortgage with a different lender. The loss payee is the party that receives the insurance payout in case of damage or loss.
To update the loss payee on your home fire insurance, reach out to your insurance company and provide them with the details of your new lender. Clearly state that the change is due to refinancing your mortgage with a different lender. Once the changes have been made, send us a copy of your updated insurance binder.
7. Preparing for Your Closing Day
On the closing date of your refinance, we will register your new mortgage and finalize the amounts needed to settle your existing lender and any outstanding debts. Additionally, any proceeds will be deposited directly into your bank account.
Please keep in mind that it may take 5-10 business days for the payments to appear in your online account.
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.
Thank you for choosing PassGo Real Estate Law.
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.
