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Mortgage Refinance

A mortgage refinance is when you break your existing mortgage contract and enter into a new one, usually with a different lender. You may refinance your mortgage to get a lower rate, gain equity in your property, or combine your debts. A real estate lawyer will be required to assist you with your refinance or mortgage transaction. The lawyer will need a copy of the property tax bill and the current mortgage statement to complete the transaction.

The real estate lawyer will review the new mortgage documents and explain the terms to you. The lawyer will also prepare a new mortgage to be registered on the title. As part of the lender’s instructions, the lawyer will conduct a title search to ensure that the property is free of any claims or encumbrances. A title insurance policy will also be obtained to protect the lender against any unforeseen title problems.

The real estate lawyer will also pay out the existing mortgage from the refinance proceeds and prepare any necessary documentation to transfer the title of the property. If you are considering refinancing your mortgage, contact us to schedule a consultation with one of our real estate lawyers.

TheClosing.ca is a real estate law firm based
in Toronto, Ontario. Our knowledgeable staff is
here to assist you with every part of your real
estate transaction.
TheClosing.ca is a real estate law firm based in Toronto, Ontario. Our knowledgeable staff is here to assist you with every part of your real estate transaction.

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  • All communications with your lawyer & law clerk via phone and/or email
  • One in-person or virtual signing appointment
  • Review of the Agreement of Purchase & Sale
  • Communication with the realtor’s office for commission payments
  • Preparation of all legal closing documentation
  • Discharge of one mortgage (If Applicable) 
  • All internal disbursements such as photocopies, faxes, couriers etc.
  • A stress-free closing day!

As with every law firm, disbursements are extra.  In real estate transactions, these fees differ and depend on the type of transaction. These can include fees for title search, title insurance, deed registration, certified cheques and so forth.

Nothing is due until the closing day itself.  Disbursements and the lawyer fees are drawn from the closing proceeds (if selling) or from the down-payment cheque (if buying).

Contact us for any questions or a detailed quote. 

What’s included in the fixed one-time fee?

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