Toronto Brampton Mississauga and GTA Real Estate Lawyer
Law Booth is focused on providing a dedicated professional for people looking for a Toronto, Brampton, Mississauga or a GTA Real Estate Lawyer. We offer mobile signing services so no client is too far.
Do I need a real estate lawyer for the sale or purchase of my home?
For many people, the purchase or sale of a home is the most important legal matter in which they will be involved.
Purchasing a residence is usually the single most expensive investment a person will make. The involvement of a lawyer who is experienced in real estate transactions will provide each party with a full understanding of their rights and responsibilities. An experienced Real Estate Lawyer can also help to avoid future legal problems that may arise if either buyer or seller is not fully aware of the legal effects of the real estate transactions.
What can I expect a real estate lawyer to do in representing me?
The lawyer who represents the buyer in a real estate transaction reviews the contract, proposes and negotiates contract changes with the seller’s lawyer, provides notice to the seller’s lawyer regarding the results of the home inspections and documents the agreement between the parties regarding necessary repairs, treatment or cash credits at closing; works with the mortgage company in preparing the documents for closing; orders and reviews title searches and survey; conducts and most often disburses funds at closing; arranges for the registration of the deed and mortgage, and reviews and forwards to the buyer the complete closing package including the deed, mortgage, title insurance and the ledger indicating all the money received and disbursed.
The lawyer for the seller reviews the contract and propose and redrafts any changes to the contract required by the seller’s individual circumstances; represents the seller during the home inspection report review period; reviews current title; obtains information and documents needed to clear any title exceptions; prepares the deed, affidavit of title and other documents necessary to transfer ownership at closing, and attends closing with the seller.
In addition to the specific items noted above, the lawyers for both the seller and buyer serve as the central communication point for the client, the real estate agent, the mortgage company and the title insurance agency. This often involves numerous written and telephone communications by and between the lawyer’s office and the various other individuals, all of whom are working towards a successful closing in the transaction.
While the vast majority of real estate transfers take place without problems, the presence of an experienced real estate lawyer in a transaction that develops legal problems can provides a smooth transition from transaction to litigation. An experienced lawyer can evaluate and counsel his clients regarding their legal rights in the event an aspect of the transaction becomes problematic. If this occurs, however, the fees that are property do not apply to time spent by the lawyer in attending to any contested matters.
Why do I need a lawyer to review the real estate contract?
A contract prepared by a lawyer, real estate agent, broker or salesperson is a legal document that fixes the rights and obligations of the parties, and establishes the terms of the transaction that bind the parties. It is very important that a lawyer be consulted to review this document. The lawyer’s review of the broker-prepared contract encompasses the entire realm of real estate contract law. The lawyer must be certain that the clauses that are used accurately reflect the terms of the transaction agreed to by parties, and properly and adequately protect the client.
Why do I need a lawyer to review or prepare the deed in my real estate matter?
The deed is the written document that is signed, acknowledged and delivered by the seller of the real estate to the buyer by which the seller transfer the real estate. As this is the document evidencing and effecting the transfer, it is critical that the document be drafted with clarity. Ambiguous language in a deed can be the source of title different types of deeds can effect the seller’s liability in the future. The use of a lawyer knowledgeable in real estate can ensure that the proper transfer is made.
Why do I need a lawyer to review the mortgage papers at closing?
Most buyers require a mortgage loan to complete the transactions. In some cases, the buyer’s lawyer prepares the mortgage documents, but in most cases the lawyer for the buyer can review the mortgage papers prepared by the lender to ensure that these documents are prepared correctly. A real estate agent or title company cannot explain the legal effects of these documents; such action would constitute the unauthorized practice of law. As the mortgage documents create a lien against the property and also personally obligate the borrower to repay the loan, it is prudent for the borrower to retain a lawyer to review these documents as to their correctness, and to explain their legal effect to the borrower.
Why do I need a lawyer to review the title of the real estate I wish to buy?
To assure that the seller of real estate is able to transfer all legal and equitable ownership interest in the property to the buyer, a title search is required. The result of search identifies the legal owner of the property and list all recorded documents that affect the property. The title search also identifies those who have claims against any current or past owners of the property. These claims must be satisfied and cleared from the public record in order for the buyer to obtain clear title to the property that can be readily transferred in the future. Rashdi Law Firm reviews the title search, explains the results and pursues the satisfaction of claims in anticipation of closing.
I have a busy schedule and I cannot make it during your office hours. What can I do?
Law Booth understands the busy lifestyle of clients and as such makes it extremely convenient for them by allowing for weekend and evening appointments.
Do you have the lowest price guarantee?
Law Booth takes pride in offering high quality service for affordable prices. We will beat any competitors price*.
Transfer of Title
If needed, we can add or remove a person from title for $495.00 plus Government registration fees, HST and any Land Transfer Taxes.
If a joint owner of the property is deceased, we can remove that owner from title for $225.00 plus HST. Removal of the deceased transfer the rights to the remaining joint owner.
Purchase/Sales/Refinances directed to us within 7 days of closing are subject to an additional fee of $200.00 plus HST. This is also applicable if we receive mortgage instructions less than 7 days prior to closing.
Please note that these quotes are estimations only, and our fees are subject to variation depending on circumstances of each specific transaction.