Reasons to Use a Notary When Refinancing Your MortgageSeptember 24, 2020
Notaries are incredibly useful for a wide variety of legal services, especially when it comes to real estate. Whether you are buying or selling new property, transferring property ownership, or refinancing your mortgage, there are plenty of benefits to having a BC notary provide their services. At Sidhu & Associates, we know that there are many reasons to use a notary when refinancing your mortgage, which is why we offer a comprehensive suite of real estate services.
Why Use a Notary to Refinance Your Mortgage?
Refinancing your mortgage can be a stressful process. Determining the appropriate rates and terms that will be kept for the upcoming years can be difficult and it is not always clear to the buyer what decisions are in their best interest. A BC notary can help to navigate these situations. Some of the best reasons to use a notary when refinancing your mortgage include:
A Notary Represents Your Interests
Although many banks offer a lawyer as part of the legal process of signing into a new mortgage, that lawyer is only obligated to act in the best interest of the investor, which is the bank. The lawyer will make sure that everything is properly in place for the deal only insofar as it protects the investment of the bank. A notary represents their clients’ interests at all times, so they will look at the title to ensure that the borrower is aware of any issues. A notary may even be able to manage some issues with the title and mortgage terms.
A Notary Can Access Proper Information
Notaries have access to information that can allow them to compile a comprehensive report of relevant information to the home. This can include outstanding taxes, strata issues, or insurance problems.
A Notary Can Review Documents for Accuracy
Notaries are well-versed in reading legal documents and they will be able to review the legalities of the mortgage to watch for mistakes, inaccuracies, or inconsistencies. They will also be able to monitor the mortgage registration process and make sure that the borrower receives their funding at the right time.
If you are interested in learning more reasons to use a notary when refinancing your mortgage or, if you want to find out about any of our other real estate and conveyancing services, please contact Sidhu & Associates at 604-859-4825 or fill out a contact form on our website.