Get answers to your questions about the real estate law governing the purchase of a home
What is the next step after I have signed the contract?
Provide our office with a copy of the contract, or have your Realtor send it to us (if applicable). Purchasers need to notify their lender that our office is acting on their behalf and provide them with our contact information, which they need to send us the mortgage instructions. Once we have prepared the mortgage documents, we will be in contact with you to set up an appointment to sign. When acting for Sellers, we prepare the documents and call you to set up an appointment to sign.
How do I get my keys?
If you are using a Realtor to buy or sell your home, they will deal with the exchange of keys. If no Realtor is involved, the exchange of keys is usually done directly between the buyer and seller or the lawyers.
What is included in the money the lawyer's office has asked me to bring to my signing appointment (Purchasers only)?
There are a few different things included in the shortfall calculation. Property tax adjustment, condo fee adjustment (if applicable), our estimated Statement of Account, and late interest (if applicable) are usually part of the calculation. Your lawyer will provide a detailed breakdown of all costs at your signing appointment.
When will I get my final documents?
Purchasers -a minimum of six weeks after closing, longer if the sale happens during the peak Real Estate season.
Sellers - reporting on a sale transaction is done at the time of closing.
What do I need to bring to my signing appointment?
We will let you know in advance of your appointment. Everyone needs to bring two pieces of ID (one of which must include a picture).
How much should I expect to pay for legal fees?
Our fee for a standard purchase and new mortgage is $850.00. Our fee for a standard sale and discharge of a mortgage is $650.00. These fee amounts do not include disbursements or G.S.T. Disbursements are expenses we pay on your behalf, such as Land Titles registration costs, couriers, title insurance, and searches. We may also have to collect an amount for interest payable pursuant to your real estate contract. We try to over-estimate the amount to be billed on a sale or collected on a purchase. The all-in cost for a sale, including fees and disbursements, is usually $900.00; the all-in cost for a purchase, including fees and disbursements, is $1,400.00. Both estimates assume there are no unusual circumstances. Costs can increase depending on a number of factors, including your lender, registration costs, the need for title insurance or a Real Property Report, condominium documents, etc. Any excess funds are returned to you on closing or final reporting.
Need more information on our real estate legal fees?
For more detailed information on our real estate legal fees, please contact us by phone or online. If you are looking for a quote or making comparisons with fees charged by other law firms, make sure you are comparing all-in costs, not just legal fees.
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