Speaker 1: Buying a new home in Nova Scotia. When you do a purchase and sale agreement you must give a deposit. The deposit could be a personal check or certified check and the check goes in a trust account. It goes to the seller brokerage account. It doesn’t go to the seller, and fully refundable to you if the deal doesn’t go through, and that will show your commitment to this purchase and sale agreement to the seller. So now we got a deposit, then we’re okay to move to the next step. Let’s do the home inspection. The home inspector will come in and inspect your house bottom to top, and if we find some major problem, we could come back to the seller and ask them to repair or ask them to give them a price reduction and you as a buyer will have to repair after closing. When we have the purchase and sale agreement, I will send it to your lender, all the paperwork to receive the Letter of Financing from your lending institute and normally that takes between eight and 10 business days.
Now, we did receive your Letter of Financing. Your next step would be before moving, you must call utility hookup. Example, Nova Scotia Power, especially for those people who are the out-of-town buyers. While you’re relocating, while you’re in the city here, it’s easier if you do it now before going home. Keep that in mind. Now, we did receive your deposit. The home inspection was okay. No problem there. We get the Letter of Financing. You call the utility. Everything seemed to be perfect. Now it is sold. The sign goes on. Our next step after that, we’ll do a pre-closing inspection on the day of closing. It takes about five or 10 minutes and if all okay, we call the lawyer. Tell the lawyer to release the money and you receive the key. GET CYRIOUS!