Where a property is being purchased with a mortgage, the lender will forward the mortgage funds to our Parnes Rothman trust account usually before 12:00 pm. That mortgage money is combined with your certified closing funds which you are to present to our firm when you sign all closing documentation. The closing funds are then certified by our firm and forwarded by our courier along with all closing documentation to the Vendor's lawyer. The Vendor's lawyer will forward their closing documentation, along with the keys to the Property to our firm.
The lawyers will hold all funds and keys in escrow until the Purchasers are registered in the Land Registry Office as the new owners of the property. Once registered, our office will release the keys to the Purchases and the transaction is complete - usually in the late afternoon before 5:00 pm. The purchasers now own the property and free to move into the premises.
If you are moving on the Closing Date, we suggest that you arrange for your movers to arrive late in the afternnon to avoid any unneccessary moving costs.
If you are moving into a condominium and require the use of an elevator, be sure to contact the manangement office well in advance of the Closing Date to reserve an elevator.
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