You always hear that Lawyer's are a dime a dozen. However, do you know what a Real Estate Lawyer actual does in the Real transaction? Do you know a qualified Real Estate Lawyer? What do Lawyers charge you for?
There are so many questions regarding Lawyers. Here a few quick tidbits of what they do depending on a Freehold or Condo property.
1) Reviewing the Agreement of Purchase and Sale (Freehold and Condo)
2) Check title of property & ensure clean title no liens
3) Negotiate on behalf of their clients (remedy any issues on closing)
4) Register property title with the Register office
5) Title insurance purchase for clients
6) Review the Status Certificate of the Condo Corporation & advise if any issues
7) Closing Cost, to complete the transaction
8) Co-ordinate the issuing of Land Transfer Tax Rebate for First Time Home Buyers
9) Communicate with utility companies for service cut off's and start dates.
10) Discharge or Transfer the mortgage
These topics are just a few areas in which having a Real Estate Lawyer working on your behalf. Makes a difference when completing the transaction. So, choose wisely, research lawyers or speak to friends or family members who have bought before. Knowledge is key in any avenue that you are partaking in.
Take care,
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