Still Waiting

The original waiting time from the exchange of possession date of the house was to be 2-4 weeks before I receive the money.  We are now at the end of week 1, so that leaves 1-3 weeks left to wait.

As you may have guessed, I am very impatiently waiting for these funds in order to get myself out of debt.  I have been putting everything on my credit cards, because my income is less than my expenses.

The bank continues to take my mortgage payments and will continue until they have received the balance in full themselves.  Since the lawyer will pay them exactly what was owing to them on August 1st, this means the bank will then repay what they have taken (minus the extra interest, since they did not receive it on August 1st) – but will take their time doing that.

The correct water bill has now been received by the lawyer, so that will be paid once they have the funds from the other lawyer.

According to the lawyer, these are the steps that must be completed.

1 – Purchaser’s lawyer gets documents to the Land Titles office.

2 – Land Titles offices processes them.

3 – Purchaser’s lawyer sends registered mortgage to mortgage lender.

4 – Lender sends mortgage funds to purchaser’s lawyer.

5 – Purchaser’s lawyer sends funds to my lawyer.

6 – My lawyer pays my realtor, themselves, my mortgage and any of my bills directly related to the house, and then calls me to pick up whatever is left.

So – that is what takes the 2-4 weeks, but it would be nice if they let me know where they are in those steps.  I won’t be notified until my cheque is ready for me to pick up, but I keep checking my bank account online in the hopes of seeing that the mortgage has been paid.

This firm specializes in real estate and everything moves like clockwork – but since so much relies on other firms and businesses, their hands are tied in the speed that things happen.

So – as I said earlier – I am still waiting (impatiently).

MWSnap7850 2016-08-08


I have quite a few plans for these funds, since I am planning on visiting my daughter in Vancouver this fall and have my one day trip to Churchill later this fall and I have pre-booked my vacation in South Africa for next year.  Of course there will be more than enough for those trips and I want to put as much as I can into a tax-free savings account at the bank.


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