This is the
eleventh in a series of tips on buying and selling real estate:
Commonly known as
a survey, an up-to-date certificate of location is a vital legal
document in the home-selling process. It must be forwarded to the
lawyer or notary handling the sale in time for the closing.
Prepared by a
qualified surveyor, the certificate of location specifies the
exact size and location of your property, the size of the building
and the type of structure. It notes conformity with local zoning
regulations and by-laws, and includes drawings of exterior and
(sometimes) interior ground plans.
The certificate of
location must accurately reflect any structural changes made while
you've owned the house including additions, garages, decks - even
the relocation of a storage shed! Certain items falling under a
predetermined height (landscaping, for instance) are exempted.
If no improvements
have been made, the original survey generally remains in effect
indefinitely. In some provinces, however, surveys must be updated
routinely.
While it is
usually the sellers responsibility to provide and up-to-date
certificate of location, the cost of having a new one prepared (if
necessary) becomes, in some jurisdictions, the buyer's financial
obligation. It's wise to specify who will be responsible for
assuming this cost in the offer to purchase.
Talk to your agent
or contact your local real estate association to find out the laws
in your province.
Tip No. 1:
Buy First Or Sell First?
Tip No. 2:
The Advantages Of A Resale Home
Tip No. 3:
The Marketing Plan
Tip No. 4:
Getting Interest On Your Deposit
Tip No. 5:
What Are The "Usual Adjustments"?
Tip No. 6:
Insuring Your Mortgage
Tip No. 7:
Home Insurance
Tip No. 8:
Choosing A Lawyer
Tip No. 9:
The Offer To Purchase
Tip No. 10:
Home Inspections
Tip No. 12:
The Counter Offer
Tip No. 13:
Conditional Offers
Tip No. 14:
Why Buy A Brand New Home?
Tip No. 15:
Deposits - A Vital Part Of Every Deal
| Excerpted
from Alan Silverstein's Forty Plus One Real Estate Tips.
Mr. Silverstein is a Toronto lawyer, author and broadcaster who
devotes most of his practice to residential real estate and
mortgage financing issues. |
| This
page is provided as a service to the reader. It is
not an advertisement for, nor an endorsement of, Alan
Silverstein. The views expressed are those of the
author. |
|