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logologo

647-812-8462

     

  • ABOUT
  • WHAT WE DO
    • REAL ESTATE
    • WILLS & ESTATES
    • IMMIGRATION
    • FAMILY LAW
    • BUSINESS
    • NOTARY SERVICES
  • PRICE LIST
  • SERVICE AREAS
    • OAKVILLE
    • BURLINGTON
    • MILTON
  • BLOG
  • CONTACT
logologo

     

647-812-8462

  • ABOUT
  • WHAT WE DO
    • REAL ESTATE
    • WILLS & ESTATES
    • IMMIGRATION
    • FAMILY LAW
    • BUSINESS
    • NOTARY SERVICES
  • PRICE LIST
  • SERVICE AREAS
    • OAKVILLE
    • BURLINGTON
    • MILTON
  • BLOG
  • CONTACT
by Monica Beffa
BLOG, Real EstateNovember 24, 20190 comments 0 Likes

FAQs for a Real Estate Purchase

When should I contact a Real Estate Lawyer regarding purchasing a home?

As soon as possible. Once our firm is involved, we can start working to protect the purchaser’s interests.  When it comes to buying and selling real estate, the details are important. A fact or item incorrectly set out, or completely overlooked in the original Agreement of Purchase and Sale could develop into a legal dispute between the buyer and seller. Such problems can be avoided by obtaining legal advice from our firm early on in the process.

What information will my lawyer need to close my purchase?

A purchaser will need to provide the following information to our firm:

  • Photo Identification – Copies of two pieces of photo identification (driver’s license and passport) will be required for each purchaser.
  • Date of Birth– Our firm requires the dates of birth of all purchasers.
  • Agreement of Purchase and Sale– A copy of the agreement should be forwarded to our firm.
  • Name of the Mortgage Lender – It is common on home purchases for the lawyer to perform certain legal services for the mortgage lender e.g. giving the lender a legal opinion on the title the purchaser will hold and ensuring the lender will have a valid mortgage on the property according to the mortgage agreement.
  • Inspection Report– A copy of any building inspection report that the purchaser may have received if required as a condition of your title insurance policy.
  • Address for Service– The address that will be registered on the deed for future contact. Usually this is the address of the property in question, but it may be a different address if the property is being purchased as an investment property.
  • Title– If there is more than one purchaser, you will need to instruct our firm whether the title will be taken as joint title or tenants-in-common.
  • Property Insurance – As a condition of the mortgage, the lender will require that property insurance be in place on the closing date. The purchaser’s insurance agent must send to our firm a certificate of insurance or binder letter showing that the insurance is in place and that the lender’s interest is noted on the property.
  • Closing Funds – On or before the date of closing, the purchaser will need to provide our firm with sufficient funds to complete the purchase by certified cheque, bank draft or money order. These funds include the balance owing to the vendor as well as land transfer tax and any other required adjustments such as property taxes or fuel oil. The lawyer will contact the purchaser prior to closing to provide the exact amount required.
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Beffa Law Professional Corporation

Real Estate
Wills & Estate
Immigration
Family Law
Business & Corporate
Notary Services

Service Areas:

Burlington
Milton
Oakville

Contact Us:

Phone: 647.812.8462
Fax: 647.697.2424
Email: info@beffalaw.ca

Visit Us:

231 Oak Park Blvd
Suite 301, 3rd Floor
Oakville, ON
L6H 7S8
Copyright © 2021 - BEFFA LAW
All the information presented on this site must be regarded as general information and  not legal advice. Every case is different, so please contact us to assess your particular situation. A solicitor-client relationship will be established only after we’ve determined that there is no conflict of interest.
Contact Us
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Check all that applies
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TITLE TRANSFER
  • Complete the required documents and gather the supporting documents
  • Obtain appropriate legal advice for the tax and other implications of the title transfer
  • Review the forms for completeness and accuracy
  • Perform title searches
  • Obtain title insurance
  • Update the contents and fire insurance policy
  • Update ownership records in the utility bills
  • Advise current mortgage lender of the title changes
  • Get the title change documents registered and report them to the clients
  • Send information to the city’s tax department and condo property management of changes in ownership

CLOSING COSTS NOT INCLUDED IN FEES

  • Software & conveyancing charges $75+HST;
  • Flat disbursements cost $125+ HST  includes one title search
  • Registration Fee $78.79
OCCUPANCY
  • Acting for you in matters relating to your purchase of the property
  • Review the Agreement of Purchase and Sale
  • Conduct and review title searches for any defects in the title Submit requisitions on the title and review the responses
  • Search for arrears of taxes and obtaining a certificate
  • Confirm that utilities were in satisfactory standing and arranging for meters be read
  • Search for executions
  • Examine the draft deed
  • Review the statement of adjustments
  • Reviewing the documentation provided by the builder including warranties, declarations and vendor’s and purchaser’s undertakings, and verifying enrolment with Tarion Warranty Corporation
  • Draft documents and statements in accordance with Land Transfer Tax Act
  • Correspondence with the Condominium Corporation and obtain a Status Certificate and Certificate of Insurance and review the same
  • Meet with client to explain and sign all legal documents
  • One in person appointment or remote signing on zoom
  • Close the transaction and securely transfer funds
  • Register transfer

CLOSING COSTS NOT INCLUDED IN FEES

  • Software & conveyancing charges $125+HST;
  • Flat disbursements cost $225+ HST  includes one title search
REFINANCE
  • Review mortgage instructions for refinancing.
  • Conduct and review title searches for any defects in the title.
  • Conduct and review writ searches and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Review mortgage instructions.
  • Draft all mortgage documents
  • Register mortgage documents.
  • Extensive correspondence with the lenders and banks.
  • Receive mortgage funds.
  • Review certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the refinance transaction and securely transfer the funds
  • Register mortgage on title
  • Open the refinance file and access to client portal
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment.

CLOSING COSTS &  NOT INCLUDED IN FEES;

  • Title Insurance (as per Invoice) – CALCULATE
  • Registration Costs/ per Mortgage $78.79;
  • Software & Conveyancing Charges $270 + HST;
  • Flat disbursements cost $240 + HST title searches, writ searches, execution searches, bank charges, courier charges etc.
SALE
  • Review mortgage instructions for refinancing.
  • Conduct and review title searches for any defects in the title.
  • Conduct and review writ searches and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Review mortgage instructions.
  • Draft all mortgage documents
  • Register mortgage documents.
  • Extensive correspondence with the lenders and banks.
  • Receive mortgage funds.
  • Review certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the refinance transaction and securely transfer the funds
  • Register mortgage on title
  • Open the refinance file and access to client portal
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment.

CLOSING COSTS  NOT INCLUDED IN FEES

  • Title Insurance (as per Invoice) – CALCULATE
  • Registration Costs/ per Mortgage $78.79;
  • One Mortgage payout with a Tier 1 bank $200+HST
  • Software & Conveyancing Charges $225+HST;
  • Flat disbursements cost $275+HST includes one title search
PURCHASE
  • Review the Agreement of Purchase and Sale.
  • Conduct and review title searches for any defects in the title.
  • Submit requisitions on the title and review the responses.
  • Conduct and review writ and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Examine draft transfer deeds and draft closing documents.
  • Review the statement of adjustments.
  • Draft documents and statements in accordance with Land Transfer Tax Act.
  • Draft documents to apply for first-time home buyer rebate for the client.
  • Correspondence with the lender and banks.
  • Review the certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the purchase transaction and securely transfer funds
  • Register transfer
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment

CLOSING COSTS NOT INCLUDED IN FEES

  • Land Transfer Tax –  CALCULATE
  • Title Insurance (as per invoice) – CALCULATE
  • One Mortgage with a Canadian Tier 1 bank $300+HST
  • Registration per transfer and per mortgage $78.79 each;
  • Software & conveyancing charges $225+HST;
  • Flat disbursements cost $275+ HST  includes one title search