Tartan Design Centre

Table of Contents

Closing on Your Home

This is the moment you have been waiting for – when your new home is turned over to you and the keys are put in your hand. Here is an overview of the closing process and what to expect.

Your Closing Meeting

Location

The closing on your home typically takes place at your lawyer’s office. Please confirm this with your lawyer.

Documents

At closing, the documents necessary to convey your new home to you and to close the mortgage with your lender will be signed by you. The closing documents typically include the following:

  • The Transfer/Deed of Land, which conveys title to the home and lot to you.
  • The HST New Housing Rebate form, which assigns any applicable HST New Housing Rebate to Tartan Homes. It is signed by you and returned to Tartan Homes on closing, for submission to the Canada Revenue Agency. For more information, see the HST clause in your Agreement of Purchase and Sale.
  • Mortgage documents from your lender.

In addition to these standard items, your lender and/or Tartan Homes may require other documents to be signed. Your lawyer will go over all this with you.

Store your documents: We suggest that you store the legal documents from your closing with other valuable papers, in a safe place. You will need them for tax purposes and if you refinance or sell your home.

"The Final Number"

About two months before your closing date, Tartan Homes will send you an estimated cost of closing. This cost calculation includes the base price of the home, land premiums (if applicable), cost of upgrades (if applicable) and any deposits you have made. We recommend that you show this estimated cost to your mortgage provider. At your closing meeting, after final adjustments have been made, you will pay “the final number.” (This includes pro-rated taxes but not utility costs.)

Pre-Closing Details

The key to a smooth closing is preparation. A number of details, listed below, require your attention. You can handle most of these by phone. Address these details during the weeks before closing to prevent last-minute delays:

Form of Payment

Your lawyer or financial institution can advise you as to how payment must be made. In your planning, be sure to allow time to arrange for and obtain these funds. Keep in mind that some banks place a hold on money moved from another account.

Insurance

You need to provide proof from your insurance company that you have a homeowner’s insurance policy. Your insurance agent should know exactly what is needed. We suggest you arrange for this at least three weeks before your expected closing date.

Utilities

Tartan Homes will have utility service removed from its name at the time of closing. You will need to notify all applicable utility companies of your move so that service is provided in your name. We suggest that you contact these companies well ahead of time to avoid any interruption in service. If you have ordered a security system for your home, you can arrange to activate it by contacting the monitoring service for a connection appointment.

House Keys

At your closing meeting, you will get the keys to your new home – two copies for each lock. The same key will operate both the knob and the deadbolt lock. When you insert your new key for the first time in each lock, the tumblers are altered and Tartan Homes’ master key will no longer work.

We recommend that you try all the keys in all your locks to confirm they operate smoothly. Depending on the number of family members you have, you may want to get extra copies of your house keys made.

Mailbox Keys

Mailbox keys, where applicable, must be obtained from your post office. Canada Post regulations state that Tartan Homes is not permitted to deliver mailbox keys to you. The post office requires proof of identity and will ask you to sign for your keys.