Experienced Real Estate Lawyer in Toronto, Ontario

Selling Real Estate

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SALE

A sale transaction begins with a real estate agent representing the seller finding a buyer who is interested in purchasing the property. Once an offer is made and accepted by the seller, the real estate agent will refer the buyer to a real estate lawyer.
Once the APS is signed, the buyer may have a number of conditions which they must meet in order for the deal to close. These conditions include obtaining financing, arranging for a home inspection, and lawyer review. Once all of the conditions have been met, the deal is said to be “firm”. At this point, the buyer is legally obligated to purchase the property and the seller is legally obligated to sell the property.
A skilled lawyer will make certain that all outstanding mortgages are paid, that real estate and mortgage agency commissions are paid, that tax department is notified of the new owner. The real estate lawyer will also assist with preparing any documents pertaining to closing along with correspondence with real estate agents, financial institutions and the buyer’s lawyer. The real estate lawyer will transfer title, and upon closing provide you with the sale proceeds. qualified lawyer is vital to making sure that your interests are protected throughout the sale process.

Contact us today to have your sale file handled professionally from start to finish. When you are selling a home, or an investment property, you want the process to go as easily as possible. Working with a

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

Reviewing A Purchase Agreement

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.

Coordinating with Other Professionals

The lawyer will coordinate with real estate agents, financial institutions, and the buyer’s lawyer to make sure that the sale process goes smoothly.

Drafting Documentation

The real estate lawyer will draft all of the necessary documentation for the sale, including the transfer of title.

Payment of Outstanding Mortgages & Bills

Once the real estate lawyer has finalized the documentation and the transactions has closed, they will work to ensure that all of the outstanding mortgages on the property are paid off.

Transferring Title

The lawyer will transfer the title to the property from the seller to the buyer.

Disbursement of Deposit

The real estate lawyer will hold the deposit in trust and disburse it to the seller when the deal closes.

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Question (FAQs)

It is not advisable to agree to an APS with no conditions. By doing so, you are legally obligated to purchase the property and the seller is legally obligated to sell the property. At minimum, there should be a condition permitting a lawyer review. In competitive markets, it is not uncommon for the offers to have no conditions.

A real estate lawyer is typically involved in a real estate transaction from the time an offer is accepted until the deal closes and the keys are transferred to the new owner. A lawyer will be required to close the transaction and to transfer title.

A real estate lawyer can navigate the real estate transaction process and ensure that your interests are protected.

The real estate attorney is generally paid out of the proceeds of the sale at closing. At times, lawyers may collect upfront retainer for new clients. The fees can vary based on the lawyer, the work involved and the type of transaction.

Disbursements are the fees that the real estate lawyer pays out on behalf of their client. In a sale transaction, these fees can include, but are not limited to acquiring a tax certificate, law society levies, and discharging any additional mortgages on the property. The disbursements are always additional to the lawyer’s fees.

When looking for a real estate lawyer, you should look for someone who is experienced in real estate law and is familiar with the real estate market in your area. You should also look for someone who is responsive and who can answer any questions you may have about the real estate transaction process.

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Contact Us | Real Estate Transaction Services in Mississauga, Ontario
  • 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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