You may be wondering, “what is the whole legal process of buying a property when working with a notary?” It’s quite a simple and smooth process as long as you have the right preparations for owning your new home.
Your first job is to make sure you properly signed your mortgage. The name on the mortgage MUST BE THE SAME as the person owning the property, so you can’t get the mortgage under your spouse’s name and then have your name on the property contract. If you’re not getting a mortgage, you can skip this step.
Now that you have your mortgage figured out, contact a notary and let them know you’re interested in working with them by e-mailing them a copy of the contract you signed with your realtor. The notary will require you to answer some client information questions in order for them to open up a file for you. It is CRUCIAL for you to answer all their questions as detailed and clear as possible or it will be difficult for the notary to chase you for answers. This is also when you should ask any questions to the notary rather than leaving it until the end.
After answering the notary’s questions, contact your mortgage broker or bank and have them FAX or e-mail your mortgage documents to the notary as soon as possible. It could take up to 5 days before the bank sends your mortgage documents to the notary so make sure you give the bank plenty of time so it does not delay your closing date.
Now you just need to wait for the notary to prepare your legal documents and contact you to go into the office for signing. Signing the documents can be done anytime BEFORE (not on) your closing date, so don’t worry if you think it’s too late. If you are unable to come in and sign (out of the country or different city), make sure to let your notary know at the beginning so the notary can set up another location near you for you to sign. This will cost extra so it’s best if you are able to go in person to sign at the notary you chose to work with.
The notary will give you either a physical or electronic copy of all your legal documents and after 1-2 months, your name will be registered on the property title. The notary will send you a copy of that document through either e-mail or mail.
*This whole process takes a minimum of 2 weeks so make sure to give your notary enough time for them to work on your files or else there will be additional fees incurred during the process of ordering forms.
*There are also other fees that vary depending on different notaries. You should ask your respective notary to clarify at the beginning of the process so you are not surprised with hidden fees.
