Working with a Real Estate Lawyer

Courtesy: Royal LePage Binder Blog

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.
  

Our team is here to help you with every step of the real estate process, whether you're buying or selling. We can not only give you expert advice and guidance on your next real estate transaction, but can also connect you with great professionals to help you every step of the way. To find out more about how we can help you buy or sell your next home, contact Beaumont & Associates today.