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Experienced Real Estate Lawyer in Toronto, Ontario

Purchasing Real Estate

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Purchase Lawyer

If you are planning to purchase a property, it is essential to have a real estate lawyer by your side. A real estate lawyer can help you navigate the process and protect your interests along the way.

In a purchase transaction, the lawyer will review the purchase agreement and other documents to make sure they are in your best interests. In most transactions, the agreement of purchase and sale will be prepared by the real estate agent. However, it is still important to have a lawyer review the agreement to make sure that it meets your needs and that you understand all of the terms.

The lawyer will conduct title searches to make sure there are no outstanding issues that could affect your ownership. The lawyer also acts for the lender and receives mortgage instructions from the bank. Once mortgage instructions are received, the real estate lawyer will prepare documents for you to sign prior to the closing.

Once the documents are prepared, the real estate lawyer will schedule a meeting to review and sign all of the necessary paperwork and pay any remaining fees or costs. Once mortgage funds are received, the real estate lawyer will coordinate with the seller’s lawyer and transfer funds. The lawyer is available to answer any questions you may have along the way.

If you are planning to purchase a property, make sure you have a real estate lawyer by your side. They can help you understand the documents, protect your interests, and ensure that the purchase goes smoothly.

How Does a Real Estate Lawyer assist
in a Purchase Transaction?

Initial Meeting & Document Preparation

The real estate lawyer will review the purchase agreement to make sure that it is fair and protect your interests. If an agreement has already been firmed, the lawyer will work within the agreement to protect your interests.

Title Search

In ensuring your property is free of any outstanding debts or liens, the real estate lawyer will conduct a title search. The title search will also reveal any easements or right of ways that may be attached to the property.

Review & Sign Paperwork

Once documents have been prepared, the lawyer will schedule a time for you to sign them. The closing documents cannot be fully prepared until the lawyer receives mortgage instructions from your lender.

Transfer of Funds

Once all of the paperwork has been completed and the mortgage funds have been received, the lawyer will disburse the purchase price to the seller. The real estate lawyer will also transfer the title to the property from the seller to the buyer.

Transferring Title

The property's title is transferred from the seller to the buyer after the final step of exchanging money. The real estate lawyer will handle this and coordinate with the seller's lawyer.

Closing Report

A closing report prepared by a real estate lawyer will outline all of the documents connected to your purchase. The report is generally e-mailed within a week following the closing.

Few Word From Our Clients

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“The Closing Team provided me with a seamless purchase transaction. They were so patient with my questions and made sure I did not have any surprise costs right from the get go. It is important you have a good lawyer review your agreement of purchase and sale. Their customer service was impeccable and are highly recommended!!”

Sumeet R.

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Louis Gale

“The Closing Team provided me with a seamless purchase transaction. They were so patient with my questions and made sure I did not have any surprise costs right from the get go. It is important you have a good lawyer review your agreement of purchase and sale. Their customer service was impeccable and are highly recommended!!”

Sumeet R.

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Louis Gale

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Question (FAQs)

A real estate lawyer can assist you in a number of ways, including:

-Reviewing the agreement of purchase and sale

-Searching the title to the property to make sure there are no outstanding mortgages or other claims against the property

-Arranging for title insurance

-Ensuring that real estate taxes have been paid prior to ownership change

-Preparing and reviewing documents

-Transferring ownership of the property from the seller to the buyer

-Answering any questions you may have about the real estate transaction process.

Land Transfer Tax is a tax that is payable to the Province of Ontario (or the corresponding municipality) at the time that you take ownership of real estate. The amount of tax that is payable is calculated based on the value of the real estate being purchased. In Toronto, in addition to LTT, there is also a Municipal Land Transfer Tax, which is calculated in the same manner.

The amount of tax that is payable can be found on the Land Transfer Tax Calculator.

Title insurance is an insurance policy that protects you from certain losses that may arise as a result of problems with the title to your property. The premium for the policy is paid once and covers you for as long as you own the property.

In Ontario, there are four title insurance providers: First Canadian Title, Title Plus, Stewart Assyst & Chicago Title.

A title search is an examination of the public records to determine the current owner of real estate and to verify that there are no outstanding claims or encumbrances against the property. The title search will also reveal any easements or right of ways that may be attached to the property.

Some common real estate transaction disbursements include: Title Search Fee Land Transfer Tax Title Insurance Software Fees Courier & Travel Fee Electronic Mortgage Instruction Fees Registration of Transfer & Charge These are just some of the many fees that may be associated with a real estate transaction.

Your real estate lawyer will be able to provide you with a more complete list of disbursements that may apply to your specific situation.
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Contact Us | Real Estate Transaction Services in Mississauga, Ontario
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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