5 Legal Items to Complete after Buying a New Home

Most buyers, especially first-time buyers, are very excited when they purchase their first home and in the excitement of preparing for moving they often forget very important things to take care of before loading that last box.

1- Read and understand your rental/lease agreement.  Most lease agreements have particular requirements regarding notice periods to vacate, sub-lease agreements and penalties for breaking a lease.  This should be done prior to drafting an offer to purchase so you can negotiate the proper closing date.

2- Protect yourself with insurance.  Most moving companies provide minimum insurance for your items, but you may wish to purchase extra insurance.  You would have been required by your lender to obtain fire/home insurance prior to closing or they won't advance the funds for the purchase.

3- Notify all your creditors of your new address.  All Canada Post outlets have a Change of Address form you can use which will redirect your mail for 3 or 6 months, for a fee.

4- Keep all receipts if you are moving for work.  Revenue Canada provides tax relief for these expenses.

5- Update your new address with all health insurance provider, lawyer, bank and other important contact with whom you have limited contact....they are easy to forget.

There are so many things to think about when selling or buying a home, why not let an expert help you with the actual process so you can concentrate on what's important.  If you are thinking of buying or selling, contact me today!