This memo is written to provide guidelines to you so that the mortgage work can be completed expeditiously and to minimize the cost to the client.
INSTRUCTIONS TO SOLICITORS
Please pick up the mortgage instructions and bring them to our office to expedite the processing. If you wait for the bank to arrange the delivery, it will take longer.
A lawyer, in smaller amounts of mortgages, may act for both the parties with consent. If a conflict develops, we may act for neither party.
Documents not relating to the title should be signed by the client at the bank. If we need to advise you on additional documents, there will be additional fees.
The cost of courier will be charged to the client. It is therefore preferable that all documents be supplied to us at one time.
NAME OF PERSONS
It is preferable for us to deal with one person in the mortgage institution. Please let us have the name of the mortgage lending officer you are dealing with for the loan.
CHEQUE FOR CLOSING
We will deduct our fees from the proceeds of the mortgage or, in the alternative, we will need your cheque for the estimate amount of fees and disbursements.
In Richmond Hill and York Region, the registrations of the mortgage are required to be done electronically. There will be additional costs of the registration.
The disbursements that the client pays will include cost of search, courier, title insurance, registration fees and fees to search execution. These costs are paid by us on your behalf to other parties to complete the mortgage. Legal fees are what we will charge you for our services as lawyers.
We are pleased to give you these instructions to improve our service to you. Client’s co-operation is important to carry out the work expeditiously.