My Closing Newsletter - March 2020 • MyClosing
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My Closing Newsletter – March 2020

Launch 48 Blog

REALTOR NEWSLETTER 

Your Real Estate Transaction and the COVID-19 Pandemic


MyClosing (powered by Anderson Sinclair PC) recognizes the many challenges realtors are facing during this unprecedented time with COVID-19. In response, MyClosing is providing realtors with our news bulletin to help you navigate your real estate transactions in the current market. 

Should Realtors Accept New Listings? 

  • Real estate services are considered essential workplaces and will remain open. The Land Registry System remains operational. Transactions are closing and will continue to close. 
  • Realtors can accept new listings; make sure your clients understand how your services will be affected. 
  • Many buyers and sellers may be hesitant but there are still clients who need to buy and sell right now; service these clients. 
  • Realtors should become familiar with technologies that will facilitate their ability to service clients remotely during this time of social distancing. Consider virtual, digital and paperless solutions. 

New Construction Build Transactions 

It can be expected that the pandemic will cause delays in the delivery of new construction homes. 

▪ Tarion New Home Warranty will not provide Delayed Closing Compensation to purchasers for delays due to COVID-19. 

▪ Tarion has suspended warranty deadlines and will be giving homeowners an extension to submit any warranty claims 

▪ If you have clients expecting to close a new construction home in the near future, you should contact them now to discuss alternate housing arrangements 

▪ Consider adding a clause to the APS for your seller clients who have purchased new construction properties. 

COVID-19 Agreement of Purchase and Sale (“APS”) Clauses 

Realtors should consider inserting these clauses, where applicable, to any existing and future agreements. The following clauses will help protect your clients on the day of closing. COVID-19 Delays Clause 

Buyer and Seller acknowledge that due to measures taken by the Provincial Government in response to the current COVID-19 pandemic, there could possibly be a delay at land registration that would affect the actual registration date from the date herein contemplated. In such event, the Buyer and Seller hereby agree to extend the completion date of this transaction until the next possible date following the scheduled date of completion that registration could actually be effected with no additional charges being made to the Buyer

COVID-19 New Construction Delay Clause 

The Buyer hereby acknowledges that the Seller has purchased a new construction home and delivery of the Seller’s new construction home may be delayed due to builder delays arising from COVID-19. The Buyer hereby agrees to allow the Seller one opportunity to amend the closing date to a date no later than sixty (60) days past the originally scheduled closing date, to accommodate any builder delays faced by the Seller

*Waiver of Liability Clause* 

Many requests have come to our legal team requesting a waiver of liability clause to protect agents and brokerages if a deal falls apart due to COVID- 19. This type of clause on its own will likely be ineffective and unenforceable by the courts. Importantly, such a clause may not send the right message to the client. 

It is important to remember there is no all-purpose clause to address your specific transaction. Realtors should contact our legal team at 1-800-308- 5668 ext. 3265 for any legal advice relating to COVID-19 clauses. 

Things to Remember When Advising Your Clients 

Parties are expected to be ready and willing to close on the scheduled closing date. The pandemic (on its own) is insufficient justification to cancel a deal. 

▪ Realtors should encourage clients not to close sale and purchase transactions on the same day. Delays in banking can and will pose challenges 

▪ Where possible, encourage clients to obtain bridge financing. 

▪ This is a challenging time for everyone. Advise your buyer/seller clients to act with fairness and reasonableness to the other party throughout the transaction. 

▪ Duty to mitigate – regardless of the pandemic, parties must take all reasonable steps to recover any losses or prevent additional losses if a transaction does not go through. 

▪ Consider increased deposits and increased extension costs to protect your seller clients. 

Anderson Sinclair is here to help you and your clients navigate their real estate transaction. Please feel free to contact one of our lawyers at 1-800-308-5668 ext. 3265. 

About MyClosing powered by Anderson Sinclair LLP 

MyClosing powered by Anderson Sinclair is a leading edge, digitally enabled real estate closing services company that provides Canadians with a transformative way to close their purchase, sale and refinance transactions. Powered by Anderson Sinclair PC and with over 125 years of legal experience across Canada, MyClosing is the preferred supplier to many real estate, mortgage and lending companies across the nation. 

MyClosing / Anderson Sinclair is pleased to announce we are offering remote signing using a Video Signing Room (VSR) and e-signature technology on all our real estate transactions. Please contact us to help make your client’s transaction convenient, seamless and safe during the pandemic. 

Google Reviews

MyClosing.ca
4.8
Based on 183 reviews
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1 “‪1JDan‬” 21 “‪1JDan‬” 2
20:47 22 Jul 22
This is a great group of people.The transaction was well communicated, excellently handled and all my questions were answered on the spot.I was surprised at the speed things moved.Using the portal to keep track of the ongoing file is brilliant.
Neil HNeil H
18:09 21 Jul 22
We recently had the pleasure of working with Vanessa, for the sale of our home. Her knowledge, and expertise made the whole process a stress free experience. I was extremely impressed by her professionalism and responsiveness when explaining the transaction and answering all of our questions. We appreciate that she took her time to ensure we understood everything we were signing. Her law clerk Heather was also very personable and attentive, she kept us updated throughout the whole process. I would highly recommend using this amazing team!
Maria RogersMaria Rogers
20:21 20 Jul 22
My husband and I just had a Signing with Ian Mooney through my signing. It was easy, felt very comfortable. You do not have to leave your house. My husband and I would highly recommend these service from Ian Mooney.
Noah McCannNoah McCann
12:03 19 Jul 22
My wife and I had a great experience working with Heather and Vanessa. They were both extremely helpful in answering any questions we had as first time home buyers. They were always very quick to answer our questions and were great in helping us navigate the home buying process. Highly recommend!
Dave ErdmanDave Erdman
19:04 11 Jul 22
I recently completed the sale of my house through MyClosing.ca and had a wonderful experience. Vanessa and Jaime were extremely organized, knowledgeable & helpful throughout the entire process. They were easy to get a hold of with any questions I had, and provided me with regular communication at the major milestones. The virtual signing was easy and super efficient. I would highly recommend this law firm and I’d use them again for any sale or purchase!
Ann HamawayAnn Hamaway
20:32 27 Jun 22
Had a wonderful virtual experience with lawyer Ian, he was very thorough and easy to work with, he made the process a very smooth one! I also found their fees to be very reasonable. I will definitely use them again and will also recommend to my family and friends.
Diane LeonardDiane Leonard
16:36 27 Jun 22
Vanessa was professional and polite and personable. She clearly explained everything in layman’s terms which is important as the average person doesn’t complete house sales every day. Highly recommend this service!
fun fam jamfun fam jam
05:40 17 Jun 22
My closing made out life so easy. Honestly was the easiest way to do business. I loved using the video interview and being able to sign on our devices. Our lawyer was amazing and knowledgeable. He knew Exactly the areas that would be difficult and went through every thing so Thoroughly. We were super impressed and will conduct business this way again if possible.
Andrew GAndrew G
12:14 31 May 22
The entire sale closing process of my property was extremely simple and efficient. The platform was easy to use and follow along where the status was at each stage. The team were very professional and personable to deal with and overall the sale closing was a breeze. Vanessa and Nicole were awesome! I would highly recommend MyClosing.
Arnold ValuntonisArnold Valuntonis
01:02 18 May 22
Excellent and extremely professional law firm. Very modern and convenient process of closing and done fully online. Vanessa was extremely helpful , knowledgeable and professional. She was very punctual and responded to any texts, emails or questions instantly which I really appreciated. Both Vanessa and Matus were very helpful walking me through the closing process and any questions and concerns I had. I'm very thankful to Vanessa for keeping my closing smooth and updating me along the way. Would highly recommend her if you are looking for a lawyer , she genuinely cares about her clients and is extremely knowledgeable and reliable.
Jay RyanJay Ryan
14:55 07 May 22
I recently had the pleasure of meeting Mr. Mooney who was assisting me with a new mortgage. From start to finish, the experience was nothing short of excellent. The staff are friendly, knowledgeable and went above and beyond to assist me through the entire process. I highly recommend their services.Thank-you again.
Ashwin SankarAshwin Sankar
14:49 27 Apr 22
Wonderful experience working with MyClosing.ca. They were quick to respond to all of my queries, and took care of everything I could have asked for. Our clerk, Nicole, was on the ball - and responded to my emails late into the evening. Their online interface and virtual signing platform is revolutionary; we never once had to set foot into their office, and never actually met any staff other than our lawyer (virtually).No complaints whatsoever, though I had to recognize that a lot happens right before the closing date after a lull when all documents are submitted. Their pricing was also excellent. Highly recommend!
Ricardo ReimãoRicardo Reimão
20:10 13 Apr 22
Really fair prices and good service! I just closed a condo with them and everything went well. The clerk was really attentive and they were super quick to respond.
Sunaina SharmaSunaina Sharma
21:08 23 Mar 22
Awesome experience, my house closing was for today and everything went smooth with no issues. Kamaldeep (Lawyer) was very professional and quite informative to the process. They have a great team one can relay on. Thanks for all your great assistance.
Linda DuringerLinda Duringer
16:12 23 Mar 22
My closing has been wonderful to work with. We just finished the last of 3 separate transactions over the past 6 months without a hitch. Our lawyers and the law clerk, Sonya, did a great job, she was quick and so easy to communicate with. The lawyers were well prepared for our virtual meetings and all meetings were completed in great time. No running around to lawyers offices, no time lost. Super efficient!The client portal for documents and communication was easy to navigate, and I was able to know where we were at in our process just by logging in.Thanks again, and you will have our recommendation for sure.
1 “‪1JDan‬” 21 “‪1JDan‬” 2
20:47 22 Jul 22
This is a great group of people.The transaction was well communicated, excellently handled and all my questions were answered on the spot.I was surprised at the speed things moved.Using the portal to keep track of the ongoing file is brilliant.
Neil HNeil H
18:09 21 Jul 22
We recently had the pleasure of working with Vanessa, for the sale of our home. Her knowledge, and expertise made the whole process a stress free experience. I was extremely impressed by her professionalism and responsiveness when explaining the transaction and answering all of our questions. We appreciate that she took her time to ensure we understood everything we were signing. Her law clerk Heather was also very personable and attentive, she kept us updated throughout the whole process. I would highly recommend using this amazing team!
Maria RogersMaria Rogers
20:21 20 Jul 22
My husband and I just had a Signing with Ian Mooney through my signing. It was easy, felt very comfortable. You do not have to leave your house. My husband and I would highly recommend these service from Ian Mooney.
Noah McCannNoah McCann
12:03 19 Jul 22
My wife and I had a great experience working with Heather and Vanessa. They were both extremely helpful in answering any questions we had as first time home buyers. They were always very quick to answer our questions and were great in helping us navigate the home buying process. Highly recommend!
Dave ErdmanDave Erdman
19:04 11 Jul 22
I recently completed the sale of my house through MyClosing.ca and had a wonderful experience. Vanessa and Jaime were extremely organized, knowledgeable & helpful throughout the entire process. They were easy to get a hold of with any questions I had, and provided me with regular communication at the major milestones. The virtual signing was easy and super efficient. I would highly recommend this law firm and I’d use them again for any sale or purchase!
Ann HamawayAnn Hamaway
20:32 27 Jun 22
Had a wonderful virtual experience with lawyer Ian, he was very thorough and easy to work with, he made the process a very smooth one! I also found their fees to be very reasonable. I will definitely use them again and will also recommend to my family and friends.
Diane LeonardDiane Leonard
16:36 27 Jun 22
Vanessa was professional and polite and personable. She clearly explained everything in layman’s terms which is important as the average person doesn’t complete house sales every day. Highly recommend this service!
fun fam jamfun fam jam
05:40 17 Jun 22
My closing made out life so easy. Honestly was the easiest way to do business. I loved using the video interview and being able to sign on our devices. Our lawyer was amazing and knowledgeable. He knew Exactly the areas that would be difficult and went through every thing so Thoroughly. We were super impressed and will conduct business this way again if possible.
Andrew GAndrew G
12:14 31 May 22
The entire sale closing process of my property was extremely simple and efficient. The platform was easy to use and follow along where the status was at each stage. The team were very professional and personable to deal with and overall the sale closing was a breeze. Vanessa and Nicole were awesome! I would highly recommend MyClosing.
Arnold ValuntonisArnold Valuntonis
01:02 18 May 22
Excellent and extremely professional law firm. Very modern and convenient process of closing and done fully online. Vanessa was extremely helpful , knowledgeable and professional. She was very punctual and responded to any texts, emails or questions instantly which I really appreciated. Both Vanessa and Matus were very helpful walking me through the closing process and any questions and concerns I had. I'm very thankful to Vanessa for keeping my closing smooth and updating me along the way. Would highly recommend her if you are looking for a lawyer , she genuinely cares about her clients and is extremely knowledgeable and reliable.
Jay RyanJay Ryan
14:55 07 May 22
I recently had the pleasure of meeting Mr. Mooney who was assisting me with a new mortgage. From start to finish, the experience was nothing short of excellent. The staff are friendly, knowledgeable and went above and beyond to assist me through the entire process. I highly recommend their services.Thank-you again.
Ashwin SankarAshwin Sankar
14:49 27 Apr 22
Wonderful experience working with MyClosing.ca. They were quick to respond to all of my queries, and took care of everything I could have asked for. Our clerk, Nicole, was on the ball - and responded to my emails late into the evening. Their online interface and virtual signing platform is revolutionary; we never once had to set foot into their office, and never actually met any staff other than our lawyer (virtually).No complaints whatsoever, though I had to recognize that a lot happens right before the closing date after a lull when all documents are submitted. Their pricing was also excellent. Highly recommend!
Ricardo ReimãoRicardo Reimão
20:10 13 Apr 22
Really fair prices and good service! I just closed a condo with them and everything went well. The clerk was really attentive and they were super quick to respond.
Sunaina SharmaSunaina Sharma
21:08 23 Mar 22
Awesome experience, my house closing was for today and everything went smooth with no issues. Kamaldeep (Lawyer) was very professional and quite informative to the process. They have a great team one can relay on. Thanks for all your great assistance.
Linda DuringerLinda Duringer
16:12 23 Mar 22
My closing has been wonderful to work with. We just finished the last of 3 separate transactions over the past 6 months without a hitch. Our lawyers and the law clerk, Sonya, did a great job, she was quick and so easy to communicate with. The lawyers were well prepared for our virtual meetings and all meetings were completed in great time. No running around to lawyers offices, no time lost. Super efficient!The client portal for documents and communication was easy to navigate, and I was able to know where we were at in our process just by logging in.Thanks again, and you will have our recommendation for sure.
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