The Legal Side of Real Estate: What Your Lawyer Does Behind the Scenes

Real estate transactions involve much more than finding a property or securing a buyer. Behind the scenes, numerous legal steps must be taken to ensure the deal is valid, secure, and in your best interest.

As real estate lawyers in Etobicoke, Ontario, we handle these complex aspects to safeguard your investment and ensure a smooth transaction.

Here’s a look at the critical tasks we manage to protect you throughout the real estate process.

1. Contract Review and Drafting

Our primary roles are reviewing and drafting contracts for buyers and sellers. The agreement of purchase and sale is a legally binding document that outlines the terms of the transaction. We carefully examine this contract to ensure all terms are fair, transparent, and legally sound. If necessary, we negotiate terms to protect your interests.

This contract covers crucial details such as the sale price, closing date, conditions for financing or inspections, and any warranties.

2. Title Search and Title Insurance

Before you can purchase a property, a title search must be conducted to confirm the seller has the legal right to sell it and that no legal claims or liens exist against the property. As real estate lawyers in Etobicoke, we handle this process by thoroughly reviewing public records to ensure the property’s title is clear.

In addition to conducting a title search, we arrange title insurance to protect you from any unexpected issues, such as disputes over ownership or hidden claims against the property.

3. Managing Financial Transactions

Another key responsibility is handling the financial aspects of a real estate deal. We work with your mortgage lender to ensure the financing is in place and confirm that the necessary funds are available for closing. We also manage the money transfer between parties, including down payments and closing costs.

Additionally, we ensure that all necessary financial adjustments such as property tax payments, utility bills, and other prorated expenses are handled accurately between the buyer and the seller. This guarantees that both parties are responsible for their respective costs up until the day of the transaction.

4. Finalizing the Transaction (Closing)

The closing process is when ownership of the property officially changes hands. As part of this, we prepare and review all required documents, including the deed, mortgage papers, and other agreements. We also ensure the land transfer tax is paid and the transaction is registered with the relevant authorities.

By overseeing this process, we help prevent any last-minute issues and ensure that the deal is completed in compliance with the law.

5. Resolving Disputes

In some cases, disputes may arise over aspects of the sale, such as property boundaries or contract terms. If this happens, we will work to resolve these issues quickly and effectively. Our goal is to protect your rights and prevent delays or legal conflicts.

Reach Out to Us!!

At every stage of the real estate process, a skilled lawyer ensures that your transaction is legally sound and free of unnecessary risks.

As experienced real estate lawyers in Etobicoke, we are committed to protecting your interests and providing seamless support throughout the transaction. Contact us today to discuss how we can assist with your real estate needs.

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