Refinancing A Property

AT A GLANCE

Contact & Documentation Prep

Sign a new loan commitment with your mortgage broker or bank representative
Step 1
Initiate contact with Nava Wilson LLP (NW) to obtain quote for costs
Step 2
Provide bank with Kubes’ contact details
Step 3
Kubeskaran Navaratnam
Barrister & Solicitor
Nava Wilson LLP
210-10 Milner Business Court,
Toronto ON M1B 3C6

Contact & Documentation Prep

NW receives Mortgage instructions from lender
Step 4
NW contacts you for required documentation
Step 5
NW obtains discharge of existing mortgage (if applicable)
Step 6
NW obtains summary of title to property
Step 7

Contact & Documentation Prep

Title insurance is ordered for new lender
Step 8
NW prepares documents (Condos require a status certificate)
Step 9
NW requests lender to advance mortgage proceeds for the day of closing
Step 10
NW to pay out all debts and deposit surplus to client
Step 11
You confirm house insurance with new lender
Step 12

Closing Meeting

NW contacts you to schedule meeting
Step 13
Meet with NW on or before closing to review accounts and sign documents
Step 14
NW receives new mortgage from lender
Step 15
NW registers new mortgage against title in the Land Registry System
Step 16

Closing Meeting

NW contacts you to pick up cheque for any net proceeds
Step 18
You pay out the
old mortgage
Step 19
NW sends out final reports to you, lender, and the insurance company
Final Step

If you have questions about any part of this process, please call us to clarify.

We will be there to help you through every stage of your real estate transaction.

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