When you are purchasing or selling a house, you will have to ensure that your utility and other bills are either set up or closed as of the day of closing. In many cases, it will be up to your real estate lawyer to take care of these details. Let’s look at the procedures for purchasing and selling homes.
Purchasing a Home:
When you purchase a home, your lawyer will contact the companies or departments in charge of your hydro, gas, water and tax bills to let them know of the change in ownership. It is advisable to follow up with each of these companies or departments to set up the details of the account and arrange payment terms and schedules.
In terms of insurance, telephone, cable, internet, satellite and surveillance, you will be responsible for selecting companies to use and then setting up accounts for each service that you select. Your real estate lawyer will require an insurance binder from you prior to closing, which confirms that you in fact will have insurance for the home as of the closing date.
Selling a Home:
When you sell a home, your lawyer will again be responsible for advising hydro, gas, water and tax of the change of ownership which will take place. You do not have to do anything regarding these accounts.
As for insurance, telephone, cable, internet, satellite and surveillance, you will be responsible for contacting each of these companies to ensure that they are aware that your account will either be closed (or transferred to your new home, as the case may be) as of the closing date.
Moving can be a lot of work and it is easy to overlook some of the minor details. Having a good estate lawyer to remind you about these last minute concerns and to assist you with tying up any loose ends can make moving a lot less stressful