Selling your property might feel like the simpler side of a real estate transaction, but there is more happening on the legal side than most people realise. Understanding the process helps you avoid last-minute surprises and ensures your closing goes exactly as planned.

When to retain a lawyer

As soon as your listing is firm, meaning all conditions have been waived by the buyer, it is time to get your lawyer involved. The earlier you retain them, the more time they have to prepare.

"A smooth sale closing is largely about preparation. The more time your lawyer has, the better positioned they are to handle anything unexpected."

What your lawyer does on a sale

Once retained, your lawyer will:

Review the Agreement of Purchase and Sale

• Prepare the transfer documents (deed) in the buyer's name

• Respond to requisitions raised by the buyer's lawyer

• Coordinate discharge of your existing mortgage with your lender

• Prepare a statement of adjustments showing exactly how funds will be distributed on closing

Statement of adjustments

This document is one of the most important parts of the sale process. It outlines all financial adjustments between buyer and seller, including prepaid property taxes, utility deposits, and any credits owed. Your lawyer prepares this and shares it with the buyer's lawyer for approval before closing.

Mortgage discharge

If you have an existing mortgage on the property, your lawyer coordinates directly with your lender to arrange the discharge. The payout amount is calculated, deducted from your sale proceeds, and sent to the lender on closing day.

On closing day

Your lawyer receives the closing funds from the buyer's lawyer, confirms everything is in order, and releases the keys. Sale proceeds, minus legal fees, mortgage discharge, and any adjustments, are then transferred to you.

After closing

You will receive a reporting letter with a full summary of the transaction, including the final statement of adjustments and confirmation of mortgage discharge. This is your legal record of the sale. Keep it somewhere safe.