Working with a Real Estate Lawyer

Working with a Real Estate Lawyer

Closing a deal on a house is significantly less stressful and exhausting when you have a well-rounded team of experts working with you to get it done. This way, every step of the process is followed without the chance of accidentally missing or forgetting anything.

A real estate lawyer is one of the necessary professionals both buyers and sellers need to contact before contracts are signed and the keys are exchanged.

Real estate lawyers review a purchase contract before you sign, and can assist with negotiations, or find legal issues that may be a problem for you going forward.

They also ensure property taxes are up-to-date, and that there are no claims or liens registered or on file against the property. They confirm if there is a valid property title and calculate what land transfer tax is due upon closing, as well as any tax implications. 

Role of a real estate lawyer with a seller:

• Review the Agreement of Sale and legal documents before you sign
• Assist you with negotiation of terms and conditions
• Prepare the deed to your house
• Deal with and remedy title issues as they occur
• Close the transaction
• Ensure all legal and financial conditions have been met
• Exchange legal documents and keys with the Buyer’s lawyer

Role of a real estate lawyer with a buyer:

• Review the Agreement of Purchase and all other legal documents
• Ensure there are no claims listed registered or on file against the property
• Arrange for title insurance
• Ensure you have a valid title upon closing
• Ensure property taxes are up to date
• Calculate the land transfer tax due on closing
• Draw up the mortgage documents
• Close the transaction and ensure all legal and financial conditions are met
• Exchange legal documents and keys with the seller’s lawyer

Whether you are buying or selling a home, the lawyer’s job is to protect you from making mistakes before making one of the biggest investments of your life. You also need a real estate lawyer to register the transfer of property with your province’s land registry office.

Real Estate Lawyers can also help with:

• Investment Decisions: They can be valuable resources for investment decisions going forward.
• Estate Property Mitigations: They can offer insight into the process and tax implications along the way.
• Property Litigation: They can draft documents, and pleadings and even appear on your behalf in hearings if necessary.

You can find our recommended Real Estate Lawyers on our Preferred Services page.