Index
About
Asset Protection
Estate Planning
Real Estate
Corporate
Legal words
Office Location
Links
 
 
 
REAL ESTATE - PURCHASE
 
"Whereas historically on my website I broke out the cost to you for legal expenses (my fees plus additional disbursements, including possible variations you might expect) - which many clients found helpful - pursuant to new 2017 Law Society rules on advertising to the public I cannot set out your total cost unless it includes every conceivable disbursement aside from government charges. That is impossible and could destroy me in unusual cases in which disbursements might be extraordinary. While I may no longer advertise your costs, I am however allowed to tell you my fees and possible disbursements specific to your situation. That being the case, please call for a quote. (I do not believe this new Rule, which was purportedly created to increase "transparency" is in the public's best interests, but I don't control the Law Society). So, please call instead. Sorry for the inconvenience. And, for the record, any price we quote you is not a general price offered to the public at large but must be specific to you."
 
Your Land Transfer tax is extra, and is based on your purchase price;
Here is the link to figure out your tax:
 
 
 
 
 
First Time Homebuyers resale home

First Time Homebuyers new construction
 
When you buy a  home, there are a number of legal matters that need to be resolved.
 
First, we need to review your Agreement of Purchase and Sale with  you, to ensure you understand the terms of the deal; the dates, the amounts, the obligations created, the expenses involved, including Land Transfer tax. This is a legal contract, and is usually for a very large amount of money; it needs to be taken seriously. You are not buying a loaf of bread at the corner!
 
Second, we will review title of the property you have chosen, and prepare a list of issues that we need to see resolved by the seller (called "requisitions": paragraph 8 of typical Agreements of Purchase and Sale sets out the "Requisition Date"). These are concerns about what is on title to the property you are buying, such as any mortgages, executions or liens to remove, for instance. These need to be resolved before closing, so that you are purchasing a "clean" title.
 
Third, we need to do the mathematics with respect to property taxes, condominium fees, and any other transitional charges to balance out the purchase price to the date of closing (called "adjustments").
 
Fourth, we need to communicate with your intended mortgage company, and arrange for it to provide the necessary funds for the closing date, and make sure you are aware of the balance of funds that you will be required to provide; we also arrange to obtain a policy of title insurance to cover the possibility of hidden, or latent, defects in title.
 
Fifth, we need to sit down with you and explain the documents that you are signing, to be sure you understand, and to obtain your instructions about delivering to you your new keys!
 
Sixth, we need to attend to the actual closing, and do the swap: your money for their house! And to attend to all the banking (getting your money in, and the mortgage company¹s, issuing cheques to the seller and his lending company, and to the Minister of Finance for the tax), and then reporting it all to you, your bank, and the title insurer afterwards.
 
Seventh, because an existing mortgage is rarely discharged at closing, to make sure that the seller's discharge arrives before too many months have passed.
 
You are responsible for arranging a building inspection, contacting utilities, and obtaining life insurance. I can refer you to contacts if required; just ask.
 
 
 
   
 
 
 
Email: lawyer@rogers.com

Phone: (905) 823-1487
Toll Free: 1 877 949-8202
Fax: (905) 823-2529

1498 LEWISHAM DRIVE
MISSISSAUGA (CLARKSON),
ONTARIO
L5J3R4