06/02/2026
Thinking about selling your home and buying a condo? Here's what you can expect during the legal process to make your transition smoother.
1. **Offer Acceptance and Deposit:** Once your offer is accepted, your initial deposit goes into a trust account managed by your lawyer or brokerage.
2. **Legal Paperwork:** Your lawyer will handle all the documents, including title searches to confirm clear ownership and checking for any liens or unpaid taxes.
3. **Reviewing Condo Documents:** Expect a review period for condo bylaws, financial statements, and reserve fund reports to ensure you're comfortable with the community rules and fees.
4. **Adjustments and Fees:** Your lawyer calculates adjustments like prepaid property taxes or condo fees, and closing costs including legal fees, title insurance, and land title registration.
5. **Final Signing and Closing:** About two weeks before possession, you'll meet with your lawyer to sign the final papers and bring the balance of your down payment.
6. **Possession Day:** The keys to your new condo are handed over once funds are transferred and ownership is officially recorded.
Navigating these steps can feel overwhelming, but with the right support, it's a manageable and rewarding transition. If you're downsizing or moving to adult living in Edmonton, Team Kennedy is here to guide you every step of the way. Reach out to us to get started with confidence.
Explore tailored real estate solutions—connect with us to compare your options today. https://teamkennedyedmonton.ca/
