House purchase in Canada nearing Completion
 

Hi there, looking for any help and advice you may be able to offer. We are nearing completion on our house in PEI which we are purchasing whilst still living in the UK. The completion will take place end June, although we won't be moving until about September.

I will be going out at the time of the completion as I understand that I need to do a "walk through" to check everything is left OK. Can anyone tell me anything about the completion process and whether there's anything else I need to look out for or check?

Next question, what do I need to do about making sure that the services are still connected, etc.? Do I need to pay the electricity company anything in advance, etc. What experiences have you had?

I will stay in the house for a couple of weeks after completion before returning to UK and leaving the house with a property manager until we move out in the Autumn.

Thanks for any advice, Cheers.

Re: House purchase in Canada nearing Completion
 

If you have bought any appliances with the house you should check to be sure that they are the ones in the purchase agreement. Check to see that the furnace and central air are in working order. Check each and every water tap and toilet. Open and close every window. Basically do everything a home insepector would do. If you checked everything before you signed your final offer to purchase, check the same things again. They should all be in the same working order as the day you or your agent inspected the property the first time.
As for services, your lawyer should set up all the services for you. I believe that's what ours did when we bought our first house. Ask their office if they have this service. Otherwise, you will need to set up accounts with the utility companies yourself. Be prepared to pay a fee to set up a new account in some cases. Make sure if your lawyer does not have this service that you call the utility companies at least a couple of weeks in advance. I don't know about PEI, but here in southern Ontario there can be a wait of a couple of weeks for things such as hydro or phone service.
Best of luck with your new home.

Re: House purchase in Canada nearing Completion
 

When we first arrived and had no credit rating, NB Power wanted $600 as a security deposit (about 1.5 times the previous owners equalized monthly bill :scared: (big house, heat pump, no oil / natural gas)). They keep it for a year and then pay it back with a piddly bit extra for interest.

Same issue with cell phones - $50 each for a year.

Re: House purchase in Canada nearing Completion
 

I did exactly what you are in the process of doing. Bought my house last June....flew in for a week to complete....and did not move to Canada till December.

The house purchase is pretty smooth and your solicitor should guide you through everything....phone/e-mail him a few times before you fly out to ensure everything is set to complete and you have every document etc that you need to bring.

After completion I contacted/visited all the utility services (hydro,water,gas, water tank rental (if appropriate), phones, alarm companies proerty tax etc etc....)to set up direct debits. As the last thing you want is to default on payments and have bad credit before you start out there!

As mentioned above...some will require a deposiy cheque and a blank cheque to set up direct debit by an "equal payment" method each month.

I guess...if possible (maybe a friend, relative or neighbour) should check your mail to see if anything urgent is in your mail box......I also arranged a gardner for the summer.

HTH
Mans

Re: House purchase in Canada nearing Completion
 

When I bought my BC house in 2004 and commercial unit in 2005 I did it all by fax, phone and post, there was no need to visit.

Due to exchange rates, interest rates and difficulties with extending the mortgage slightly in the UK it worked out cheaper and easier to borrow the money for the commercial unit in Canada! Again, all this was done remotely.

The mortgage was the only tricky bit as I had to get a number of documents notarised and then posted to complete everything.

As for inspections etc. I left that in the hands of my realtor. He was happy to do it, but then again I had bought two properties through him, neither of which he was listing.

He also advised me on negotiations for both properties. For example, the house owner wanted to stay on another few months so rather than charge rent we agreed she would leave behind the electrical appliances instead.

Regards,

Ian.

Re: House purchase in Canada nearing Completion
 

Yot might want to be a little careful about the completion date. GST drops to 6% on 1st July :)

Re: House purchase in Canada nearing Completion
 

There is no GST on a house if it has been previously occupied. Only new construction.

Re: House purchase in Canada nearing Completion
 

Left brain at home today :) Had assumed that since completion was so far away that OP was taking about completion of construction.

Re: House purchase in Canada nearing Completion
 

Your conveyancing lawyer or notary, and your realtor, make enough money from your house purchase that they should be assisting you with all these questions. Don't be afraid to make them work for their money!

Good luck.

Re: House purchase in Canada nearing Completion
 

Check your insurance for details regarding the house being empty. It may have conditions concerning vacancy; such as someone physically checking it daily (inside) for potential leaks etc. If these conditions are not met, they may refuse to pay in the event of a claim. It's also wise to advise them that the house is empty, just to be on the safe side and protect your investment. :)

Re: House purchase in Canada nearing Completion
 

Not strictly true, if a property has been "extensively" or "substantially" renovated (or improved) then it is subject to GST, as is any commercial property.

Re: House purchase in Canada nearing Completion
 

Thanks for all your advice. My Realtor and Lawyer have both been great over there, running around and getting all sorts of things organised for me, I just wanted to give them a break from my questions and get an idea of others' experiences in the process which you've all helped me with a lot, so thanks again.

The whole process has been totally different to that in the UK. The house inspection was unbelievable in the detail and the quality of the illustrated report we got, also the friendly advice afterwards which is ongoing. We feel welcome to contact the inspector anytime to clarify a point or to get further advice.

In my limited experience of purchasing property in the UK, I don't ever recall being on first name terms with everyone at the solicitors, or getting almost instant replies to my queries. Or even going round to the Realtor's family home for a bite to eat in between viewing houses! It's been a refreshing change in what could have been a very stressful situation (buying a property from overseas).

Thanks for all the good tips on completion which I will follow. Then we have property managers looking after the place until we move out. It is a condition of the insurance that they go every two days and all needs to be logged in a logbook which is kept inside the house to ensure that someone actually goes into the house each time. Quite a big expense will be keeping the grass mowed, which apparently needs to be done twice a week.

I'll keep you posted, Cheers!

Re: House purchase in Canada nearing Completion
 

Or you can ask to be put on Pre-authorised billing (like direct debit) and they may waive the security deposit. Our gas and hydro companies in southern Onatrio did that for me. Good luck - hope all goes well :D