Buying or selling a new home or property does not have to be a stressful and difficult experience.
Our team at Siganporia Law Firm will work with your agent to effectively represent you and protect your best interests. We provide updates to our clients and their agents so everyone stays on the same page.
Contact us today to find out more about how we can help.
Ask a Real Estate Lawyer
Buying or Selling a Property?
Whether you are buying or selling a home, you need to make sure that everything will be in order before the closing date. You also may need advice on issues arising that you need to consider BEFORE closing the deal.
A lawyer may be an invaluable resources to review the condominium documentation to make sure you are aware of any potential issues, including financials, reserve fund studies and other potential risks.
Transfer of Title or Ownership
When transferring ownership or changing people on a title, there may be considerations like Land Transfer Tax, and the rules for 1st time homebuyers, spouses, parents and children.
Are you buying or selling your home?
Property transactions may be among some of the most significant investments that Canadians will ever deal with.
Siganporia Law Firm strives to make the process as easy, efficient and understandable as possible.
We work closely with all parties to not only limit your risk, but also maintain open lines of communication, as well as provide updates so you have peace of mind.
How Do I Mitigate My Risk?
Your lawyer can help obtain Assurance of Title by using insurance to guarantee your title to the property. It may also protect against fraud or forgery, and may contain a "Defense of Title" provision if a claim was made against your title.
Land Title Search
Proper searches can be made to ensure that there are no outstanding encumbrances such as mortgages or liens on the property.
A good title search may save you time and risk in your transaction.
Everything from the Agreement of Purchase and Sale, to condo status certificates, or mortgage documents, should be read by a lawyer to make sure they are accurate and if there are any considerations to be made.
Do you need peace of mind when buying or selling your condominium.
A condominium is not a building type, but rather an ownership structure. when you buy a condominium you own a unit and share common ownership of common elements with other unit owners (parking garage, lobby, communal park, etc.)
While a condominium real estate transaction is similar to buying/selling a house, there are still several differences that a lawyer can advise you on. The financial status of the condominium and of the condominium corporation through its status certificate are just one example of how a condo differs from a home.
A lawyer is a wise consideration to make to ensure that you minimize the risks of your condominium transaction.
What to Look For in a Real Estate Lawyer
Communication is key to make sure that you are updated on the status of your purchase or sale at all times of the transaction. A lawyer can also liaise with your bank and agent to make sure the process is simplified for you.
Do not shop for a lawyer solely on fees. Even 'cheap' offers may contain hidden costs and other extras that may end up becoming more costly. Choose your lawyer based on their honesty with fees and experience.
Finding a lawyer nearby that you can trust is a great asset to have when you are dealing with real estate transactions. Look for lawyers with convenient access to you, so you can arrange in person meetings with no problems.
Are you transferring your property to someone else?
Transferring ownership of a property can be a tedious task if done improperly or by someone with no experience in real estate law.
There may be implications to consider with respect to Land Transfer Tax, First Time Homebuyers, as well as transfers between children, parents, spouses and other parties.
The Registration process (not counting the time to have the documents prepared and signed) may take up to a week to complete so it is important to have a lawyer you can trust to make sure the process goes smoothly.