Have you recently purchased or sold a property? A real estate lawyer in Toronto can guide you through the legal process involved. Our law firm has years of experience in real estate law and handling real estate transactions and can assist you with the closing of your property. Real estate lawyers are typically involved once an agreement or purchase has been signed, at which point, they will review and draft all necessary documentation and handle any disputes that may arise during the transaction. Contact a real estate lawyer in Toronto today to inquire about our real estate services.
If you are purchasing real estate and an agreement of purchase and sale has been signed and received, the lawyer will conduct title searches on the property and draft all the legal documents required. The lawyer will also act for any lender involved in the transaction and coordinate with them to facilitate the timely receipt of the mortgage instructions and closing funds.
This process is similar if you decide to do a mortgage refinance on your residential property. Our experienced real estate lawyer will draft all required mortgage documents for your review and signature while answering any questions you may have regarding your refinance transaction.
When you purchase real estate in Toronto, you are subject to pay both provincial and municipal land transfer taxes. This means, when you purchase real estate in Toronto, you will have to pay Ontario land transfer tax and Toronto land transfer tax. However, you may be eligible for a land transfer tax refund if you are a first-time home buyer.
If you are purchasing real estate for the first time, you may be eligible for a first-time land transfer tax rebate. Real estate lawyers can draft and file all necessary documents for you to receive the maximum amount of credit that you are eligible for. In a situation where two people are purchasing a home and only one purchaser is a first-time home buyer, the first-time home buyer will still be eligible for the land transfer tax credit, however, the tax credit will be based on the percentage of the home that they are purchasing. During your meeting with a real estate lawyer, they will explain and show you a breakdown of how much credit can be applied, you will sign all the required legal documents, and the real estate lawyer will answer any questions you may have on Ontario land transfer tax and Toronto land transfer tax.
Toronto real estate lawyers’ legal fees vary as they are determined by the complexity and type of real estate transaction, the experience of the lawyer, where the property is located, and the purchase price. Typically, real estate lawyer services will cost anywhere from $800 to $2000 + HST in legal fees. Also, you will be charged disbursements that are related to your real estate matter.
Be sure to browse and obtain quotes from various real estate law firms before selecting a real estate lawyer. Set up a consultation to inquire about the legal fees, closing costs, and legal services that will be provided relating to your real estate matter.
Please visit our closing cost calculator as it provides a general idea of our real estate lawyers’ legal fees and legal services that are included. Feel free to contact our firm and set up a consultation where our real estate lawyer will break down our legal fees and typical closing costs. This will help you make an informed decision on if you want to proceed to retain our firm. Our law firm charges a flat rate legal fee and takes pride in our transparency in our costs.
Also, our real estate law firm does not require any initial retainer. On the day of closing, our firm’s legal fees and disbursements will be covered by the proceeds upon the completion of the real estate transaction. Contact us today so our firm can represent you in your real estate transaction!
Law firm disbursements are costs that are incurred on your behalf to complete your real estate transaction. In a real estate purchase transaction these costs include, but are not limited to:
The real estate lawyer will provide you with an estimate of these disbursement costs during your initial consultation. Our real estate law firm provides a detailed statement of account with all estimated disbursements. All fees are excluding land transfer taxes.
At TheClosing.ca our staff serving you in the Toronto area are fluent in English, Hindi, Punjabi, and Urdu.
Our law firm understands that our clients are busy at work and cannot always take time off to meet and sign documents. We provide appointments that are convenient for you and accept evening and weekend appointments to meet with the real estate lawyer.
TheClosing.ca also offers remote signings if you need them, which is very convenient. To sign the necessary closing papers, a meeting is held using video conferencing technology. All you need is a laptop, tablet, or smartphone with access to the internet. We’ll provide you with a link to the meeting and our Real Estate Lawyer will then assist you in completing the signing process.
Whether you’re purchasing or selling a home, our Real Estate Lawyers can help. We help clients with the following residential real estate transactions:
If you are thinking of buying or selling a property in greater Toronto area, contact TheClosing.ca for a consultation. Our team will be happy to assist you with all your real estate needs!