Scotia Closing Software Features

Below are the adjustment types that you will find in our software:

Statement of Closing Adjustments:

PLUS:

1. Property Tax Adjustments

   • Calculate bill portions quickly and accurately, within the software

   • If closing date changes, bill portions can change automatically too

   • all math is calculated and all math details will be displayed on the final closing adjustments report.

2. Furnace Oil - which can be entered 2 ways

   • Entered as a direct amount

   • Entered via our fuel calculator, by entering in the litres and price per litre in the value boxes then the fuel dollar amount is calculated for you.

3. Propane - which can be entered the same 2 ways as the oil.

4. Lease Overpayment Reimbursement

5. GST/HST on purchase price

6. Misc. PLUS to add any adjustments not covered above

back to Top

LESS:

 

Deposit paid by purchaser

Property Taxes LESS

• Compensate purchaser for taxes outstanding

• Calculate bill portions with the click of a button

• If closing date changes, bill portions can change
  automatically too

• all math is calculated and all math details will be displayed on
  the final closing adjustments report.

Water Bill

• Outstanding and Vender's portion of current bill.

• Calculate bill portions with the click of a button

• all math is calculated and all math details will be displayed on
  the final closing adjustments report.

Water Test Results

• Turn any adjustment into a note by typing NOTE into the main
  value box in the adjustment.

• This will also print on the Final Closing Adjustment Report.

Street Paving

• Calculate arrears and current bill portion owing

Curb & Gutter

• Calculate arrears and current bill portion owing

Betterment Taxes

• Calculate arrears and current bill portion owing

Lease

• Reimburse purchaser for the lease period of ....

Rent Collected in advance

• Prepaid month + balance of current month

Rental Damage Deposit

• Prepaid month + balance of current month

Lot Rental

• Outstanding and portion of current bill.

Vender Take Back Mortgage

Mortgage Assumption

• Purchaser assumes balance of the mortgage.

Record Deed'

Record Mortgage Release

Misc. LESS to add any adjustments not covered above

back to Top

Purchaser Plus

PLUS:

 

Septic System Certificate

• Note only (which can be shown on closing reports)

• All wording and values can be modified (per transaction or modified
  in your base template for future transactions)

Well Driller's Report

• Note only (which can be shown on closing reports)

• All wording and values can be modified (per transaction or modified
  in your base template for future transactions)

Property Insurance obtained through...

• Note only (which can be shown on closing reports)

Deed Transfer Tax

• Percentage of the purchase price

• Math is calculated for you

Property Tax

• pay taxes up to end of current tax period.

• all math is calculated and all math details will be displayed on the
  final closing adjustments report.

Water Bill

• Balance due

• Plus calculated portion of current period

• all math is calculated and all math details can be displayed on the
  final closing adjustments report.

Surveyor

• Include the name and amount the surveyor by adding it to the
  adjustments description.

Application for First Registration

• (AFR)

Property Description Certificate Application

• Fee plus Tax

Purchaser Legal Fees

• tax is itemized separately

Misc. PLUS to cover any types not covered above

back to Top

LESS:

MISC LESS to handle any requirements

Purchaser Disbursements (Plus)

All of the below is fully customizable in the software, preloaded prices shown are for the Cape Breton Regional Municipality, and totally customizable.

Non Taxable Disbursements

• Tax Certificate $50

• Tax Certificate $25

• Registry Search Fee $10.60

• Registry Photocopies $

• Probate Fees $

• PPSA Search Fee $7.00

• Prothonotary Search Fee

• Record Deed $79.57

• Record Mortgage $79.57

• Record PPSA (15 Years) $125

• Record Statutory Declaration $74.50

• Record Statutory Declaration re: Judgment $0

• Record Take Back Mortgage $79.57

• Record Mortgage Assumption $79.57

• Record Release of Mortgage $79.57

• Record Certificate of Satisfaction $79.57

• Sheriff Certificate $21.25

• Provincial Tax Search $20.00

• Certificate of Status $30.00

• Canadian Securities Search $8.00

• Consumer Affairs Search $8.00

• Provincial Tax Search $8.00

• Department Environment $21.30

• Subdivision Application $280.00

• File Special Resolution $10.00

• MISC $

Taxable Disbursements (default prices for all these can be set) Items can be added and deleted or reworded easily from the Tools... Options menu.

Taxable Disbursements

• Confirm Zoning $35.00

• Courier Fee $

• Mileage Fee $

• MISC $

Vender Plus

Misc. PLUS to cover any requirements

Vender Less

1. Realtor Fees
   • can be entered from invoice
   • can be entered as % of purchase price
2. Holdback RE: (Non Resident of Canada etc..)
3. Mortgage Payout
   NEW: per diem charges calculated automatically,
   and updated automatically if closing date changes!
4. Settlement of judgment(s)
5. Legal Fees
   • Taxes itemized separately
6. Property Description Certificate
7. Application for First Registration (AFR)

Vender  Disbursements (Less)

All of the below is fully customizable in the software, preloaded prices shown are for the Cape Breton Regional Municipality, and totally customizable.

Non Taxable Disbursements

• Tax Certificate $50.00
• Registry Search Fees/Copy $
• Probate Search Fee $
• Record Mortgage Release $ 79.57
• Record Cert. Satisfaction $ 79.57
• Registry Photocopies $
• File Special Resolution $10.00
• Subdivision Application $280.00
• Misc. $

Taxable Disbursements

• Office Photocopies $
• Postage $
• Fax Charges $
• Long Distance Phone Calls $
• Mileage Fee $
• Courier Fee $
• File Administration Fee $ 20.00
• LRIS Search Fee $ 1.00
• Property Online Conversion Fees $ 10.00
• MISC

Other Features

1. You can save at any time and return to your work that you have saved at any time. 
2. There is a Print Preview and Print Function
   • It has the same look and feel of your current closing report.
3. The data that is entered is automatically updated to the minute inside your transaction.
4. It does all the math for you,
   • it even includes such features as calculating compound interest on damage deposits.
   • It handles all the math even if the closing date happens to change, math figures change for you automatically with in the program.
5. Its a complete tool for helping you complete the whole transaction from start to finish.
6. Override text on the form itself and/or change text permanently
7. You can customize the program to suit your Real Estate needs with the use of templates.
8. If you do not fill something in there will be a red symbol next to it. until you fill the value box in with the appropriate information.
9. If you try to delete and adjustment that already has a value in its value box it prompts you with a message making sure that you really want to close that adjustment.
10. In any adjustment there is a tab that gives you the option of adding sales tax to the adjustment.
11. You can make any adjustment into a note by typing "note" into the value box.
12. Free Technical support
13. Free Updates
14. It is very easy to use.
    • The program can be installed onto a networked computer, and save it's data to a location on a network file server, if the network is configured to allow to you to do so.

      • Printing to a network printer - Basically, our software prints to the Windows Printer Driver.  If you already have a network, that driver should already be configured to print it's output over the network.

      • Network file sharing - If your computer already has a network drive to which it can save files, then you can use that network drive with our program in the same manner that you would with any other Windows program.