WHAT DOES A REAL ESTATE LAWYER DO?
Why do I need a Real Estate lawyer? Well, buying or selling a home is a big decision; in fact, it will likely be one of the most significant decisions of your lifetime! This life-altering decision requires the support of professionals to make sure that every step is completed diligently, ensuring that every “i” is dotted and every “t” crossed. The person that takes care of the dotting and crossing on every legal document is your real estate lawyer.
Here's what you as a potential home buyer and/or seller needs to know about hiring the right real estate lawyer and how Travers Laws Lawyers fits into the home buying and selling process.
“Amid a series of interest rate increase that were sharper and faster than expected, inflation at levels Canada hasn’t seen since the 1980s and an uncertain geopolitical environment, the Canadian real estate market is experiencing and looking ahead to a period of significant disruption”
PWC Emerging Trends in Real Estate 2023
A real estate lawyer is necessary both for the buyer and seller. Paquette Travers Real Estate Lawyers are highly trained and specialized in handling the ins and outs of every real property transaction - residential and commercial, new build and resale - and all of the issues which may arise as the process progresses. At Paquette Travers Lawyers, we know the rules, regulations, policies and established laws of real estate transactions in Ontario and can help ensure transfer of property ownership is stress-free. We can also close a transaction anywhere in Ontario. Given the disruption the real estate market is going-through, you need experienced, diligent and passionate advocates. Paquette Travers Lawyers are commitment to offering a better quality experience for our clients – Don’t go with the cheapest, go with the best.
WHAT DOES A REAL ESTATE LAWYER DO FOR THE BUYER?
We ensure the transfer of ownership and a clear title to the property in accordance with your purchase agreement. This is our role at the most basic; it goes far beyond, including the following:
Review the Agreement of Purchase and all other legal documents
Ensure there are no claims listed against the property
Arrange for Title Insurance
Ensure you have a valid title upon closing
Ensure property taxes are up to date
Calculate and collect 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
WHAT DOES A REAL ESTATE LAWYER DO FOR THE SELLER?
Our role on the seller’s side is also related to ensuring the transaction goes smoothly and all legal aspects are completed diligently. They are focused on the mortgage payout and a smooth transfer of the property’s title. Just like on the buyer’s side, this is our role at the most basic; including but not limited to:
Review the Agreement of Sale and other legal documents before you sign
Prepare the deed to your house
Deal 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
HOW TO CHOOSE THE RIGHT LAWYER FOR YOU?
Choosing a good lawyer is a challenge, in Ontario there are over 57,000 lawyers and nearly 10,000 paralegals. Most people have very little idea of what they want or need in a lawyer. The factors below ought to serve as a guide in making a personal and important life decision:
Experienced: the more specialized a lawyer is, the better they are at it.
Knowledgeable: the more collective knowledge the firm has, the better they will be a getting results.
Values: Does the firm share your values?
Finally, when in doubt, ask your realtor – no one is situated to assist you in picking the best real estate lawyer than the person who guided you this far!
Need a Real Estate Lawyer in Kitchener, Cambridge, Guelph or Milton? Contact us today.
