At Beffa Law, our real estate lawyers and staff in Oakville Ontario are committed to guiding our clients through their real estate transaction while protecting their interests.
Our legal fees and closing costs are discussed upfront, and Monica Beffa (L.B., J.D.), together with our real estate clerks always keep our clients informed throughout the closing process.
Whether you need assistance navigating complex residential real estate scenarios, negotiating leases, or other related legal matter, our experienced team is here to provide tailored support and guidance. Our aim is to provide our clients with a simple and transparent experience during the buying or selling process.
If you’re looking for a reliable real estate lawyer in Oakville who can assist you with any aspect of your next real estate transaction, contact us today at Beffa Law!
At our law office the goal is to ensure that all of our clients know their closing fees from the start, so there are no unexpected financial surprises. We provide a detailed breakdown of our legal fees and review all potential costs associated with a real estate transaction and will explain each line item so our clients fully understand the entire process and can make informed decisions.
We believe that this type of transparency is invaluable to our clients—it allows them to have a clear understanding of all expenses before signing any contracts or agreements. This gives them the knowledge they need to stay within their budget and plan ahead for any additional costs that may arise during the transaction.
In addition, knowing closing fees helps reduce stress in what can be an already stressful situation. Our clients are able to fully anticipate the end result and feel confident in the decisions they make throughout the process. With Beffa Law, you can rest assured that your closing costs will always be explained in full detail from start to finish.
We’re here for you.
At our law firm, we are dedicated to providing each of our clients with comprehensive legal counsel tailored to their individual needs. We have years of experience in estate planning and business law, allowing us to provide the knowledgeable advice you can rely on. Additionally, our services cover family law practice, which assures that your family matters are handled with the utmost sensitivity. Our firm’s commitment to excellence has resulted in our professionals being referred back again and again for other legal services.
Purchasing or selling a home can be an enormous undertaking, often demanding a great deal of effort and time. With that being said, we proudly offer our clients exclusive “after hours” appointments to fit into whatever schedule they may have. These meetings can be conducted over the phone, in person or via Zoom video meetings. This option is designed to offer convenience and flexibility at our customers fingertips!
Real Estate F.A.Q.
A real estate transaction usually takes at least a few weeks to a few months to be finalized. It is a long, complicated, and expensive process that involves many steps where multiple individuals work together to ultimately transfer the home from the seller to the buyer. Here are some of the steps that you will face during a real estate transaction:
- Obtain a pre-approval on a mortgage. A pre-approval will help determine the cost of the home that you will be able to afford and identify the size of the loan your lender will offer you to finance your home.
- Hire a Real Estate Agent who will help you find the right home.
- Make an offer on the home and place a deposit.
- Retain a real estate lawyer who will conduct a title search for the property to ensure there are no deficiencies, liens, or other issues with the property. The seller and buyer need to have separate lawyers.
- You may conduct an inspection of the home with the help of a home inspector to identify any physical problems of the home.
- Conduct a final walkthrough of the property to ensure that all conditions have been met and that no new issues have developed since you first saw the property.
- Obtain your mortgage to finance the property.
- Have the lawyer review and prepare the closing documents.
- Deposit mortgage funds into your lawyer’s account. On the closing date, the seller’s lawyer will receive these funds from the purchase’s lawyer who will in turn provide the keys for the new home.
- Move into and enjoy your new home!
In Ontario, it is mandatory to hire a lawyer for a real estate deal as only lawyers have the authority to register land title deeds. Without a lawyer, the property’s title from the seller will not be transferred to the buyer. An experienced real estate lawyer will also help you spot any issues that may affect your property and rectify them for you.
The law requires the buyer and seller to have separate lawyers to help with their side of the real estate transaction.
Purchasing your home can be an exciting moment. You may want to close the deal quickly and move into your new home as soon as possible. However, it is important to take your time to carefully review the conditions in your agreement of purchase and sale prior to signing to ensure that you are satisfied with your purchase. Here are some conditions that you should include in your offer of purchase and sale to ensure you do not face any challenges in case the deal goes south.
- Financing term. If you require a mortgage to purchase the home, you should always make the deal conditional on you being approved for financing and even obtaining your mortgage.
- Home Inspection. This condition will allow you to conduct a thorough home inspection with a home inspector and identify any defects in the home. It will allow you to walk away from the deal in case you find some serious issues.
- Fixtures/Appliances. To ensure that the home will be sold with any of the appliances or fixtures, it is essential to list them in the agreement. Otherwise, the sellers will the right to remove them and take them to their new property.
- Sale of Current Home. You may make the purchase of your new home conditional on the sale of your existing home. This will allow you to break the contract in the event you fail to sell your home.
- A deposit can be made conditional upon other events you decide fit your situation. If those events do not occur, you will be able to return your deposit. Otherwise, you may lose the deposit and may even be ordered to pay additional costs.
Although a home inspection is not required, and may sometimes be waived, it is recommended that you hire a home inspector before you purchase your home. A home inspection will help you identify any deficiencies in the home as sometimes sellers conceal the extent of damage that may exist in the home.
A home inspection is inexpensive and will save you money in the long run. You may also be able to negotiate the price of the home down to cover the costs of the damages or rep
In Ontario, if you are selling a property in which both you and your married spouse reside, you will be required to obtain your spouse’s consent to be able to sell the home. This requirement stands regardless of whether or not your spouse’s name is on the title to the property. A real estate lawyer will not be able to close the transaction without first obtaining consent. This requirement does not apply to common-law partners.
In Ontario, an agreement of purchase and sale is a contract that will legally bind both parties to the contract. It is enforceable in law and parties cannot usually break the contract without facing consequences. If either the buyer or the seller fails to close the transaction, they may be liable to pay compensation and extra fees to the other party.
Although some buyers and sellers are willing to renegotiate the deal or forgive the deposits, this is an uncommon practice. In fact, the opposite generally occurs, and one party chooses to sue the other for their losses. For example, if a buyer backs out of the deal, not only will the seller be able to retain the deposits, but the seller may also sue them for the difference if they sold the home for a lower price.
On the other hand, if a seller cancels the deal, the seller may be liable to the buyer for any damages resulting from the failed transaction. Such costs can be paying the buyer’s appraisal fees and commission, and the seller may even be liable to pay the price difference if the buyer buys another home for a higher price. The court may also force the sale of the property through a remedy called specific performance.
Overall, if you are unsure about your ability to follow through with the real estate transaction, it is best not to sign the agreement of purchase and sale as backing out of the transaction may be extremely expensive.
Additional Real Estate Services
- Review of Agreement of Purchase and Sale
- Assignment of property
- Survivorship applications
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