Real estate lawyers are useful in many types of deals including residential and commercial transactions whether you are buying, selling leasing or simply transferring a title.
- Laws and procedures governing real estate vary from one province to another. In Quebec, for example, notaries handle contractual agreements, especially real estate contracts.
When Purchasing a Home
- Do your research! The more information you have, the better off you’ll be when you meet with a lawyer.
- Inspect the property you intend to buy yourself and ask for a statement of disclosure from the vendor.
- Do the groundwork for financing, mortgage, and insurance requirements. Having these crucial aspects in place at the outset will make a huge difference.
- Organize all these details and bring them to your first meeting along with adequate ID of any people who will be listed on the title of the property.
- In the long run, these preparations will save you time, money and unnecessary anxieties.
When Shopping for a Real Estate Lawyer
- Some lawyers specialize in real estate law and others simply provide these services on the side.
- If you have a lot riding on this deal, make sure you find a lawyer that is up to the task. Don’t be shy! Ask a lot of questions, and don’t settle for just any lawyer.
- Find out how the firm structures fees for real estate transactions. Many will charge a flat rate. Find out what’s included in that rate. There are likely to be additional charges.
What Your Real Estate Lawyer Can Do for You:
- Help you clearly understand the agreement of purchase and sale and give you some advice before you actually put your signature on it.
- Review all other vital documents and certificates for accuracy and authenticity.
- Explain inherent rights, obligations, and potential pitfalls.
- Coordinate communications during the transaction and protect your interests.
- Ensure that in the end your goals have been adequately met.