Purchasers should check the offer to purchase before signing same to familiarise themselves with when they will be obligated to pay transfer and bond registration costs.
In most instances, payment is to be made upon request submitted by the office of the transfer registration attorney and bond registration attorney.
In light of recent changes, the Deeds Office calls for payments upfront on lodgement of a matter (no longer on registration) but funds are often required long before then by the attorneys to attend to payment to various 3rd party recipients in order to obtain the relevant documentation required in the respective processes.
In the event that the purchasers have specific arrangements regarding payment of costs, same need to be included in the offer to purchase.
Where funds will not be available immediately for payment of costs, it is important that the purchaser contacts the office of the Conveyancer before putting in the offer, to discuss various options and to ensure that the offer to purchase discloses the requirements of the purchasers in this regard.