- Cancelling TIPPS
- If you have been making monthly property tax payments to the city, you are responsible for cancelling any automatic payments that are to occur after the closing date of the contract (For example: If the closing date is the 4th day of the month you can wait until after closing to cancel the payment).
- If the closing date is near the end of the month ensure you cancel the TIPPS payment after the payment for that month is made (For example: closing on October 30th, you should cancel the TIPPS account shortly after October 1st).
- The difference paid will be adjusted between the lawyers’ offices and any credit you are entitled will be reflected in the money to be sent to us by the purchaser.
- Cancelling insurance.
- We recommend you do not cancel your fire insurance effective the date of closing, in the event the sale is late in closing. We recommend you wait until your real estate lawyer confirms the transaction has closed or have it automatically cancel 10 days after the closing date.
- Adjusting any utilities account information.
- It is your responsibility to have the utilities read as close as possible to the date of possession and to ensure that the utilities are taken out of your name and placed in the purchaser’s name.
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