When a person or company sells Real Estate, you require someone to act on your behalf to assist you to sign the documents, attend to paying out and discharging your mortgage, and ensuring that you receive the appropriate sale proceeds.
What typically happens is that you will have listed your property with a realtor who markets to the property and finds a buyer. The realtor will supervise the writing up of a Contract of Purchase and Sale where the buyer agrees to buy and the seller agrees to sell the property. Once you have a contract signed by both parties, a notary or lawyer will act for each party to perform the contract. When you decide to sell your property, it is important to retain a notary or lawyer early on so that we have sufficient time to process the transaction. Short notice transactions are possible but may incur additional expense.
If the property is a rental property with tenants, make sure that the buyer knows this and it is mentioned in the contract. If the buyer intends to live in the property, make sure that proper notice is given to the tenants to vacate the property.
It is important to identify which items are included in the sale of your property. The contract should specify appliances or other items that you are taking with you or what stays for the buyer. It is always better to determine this in advance than have a disagreement after the sale has taken place.