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REAL ESTATE - REFINANCE
 
"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."
 
 
When you renew or replace your mortgage, there are a number of legal matters that need to be resolved.
 
First, we generally are acting for both of you and the lending institution (they make you agree to this to save them money), and so represent both sides.
 
Second, we will review title of your property and make other investigations to satisfy the lender, and the title insurer, that the loan may be safely advanced. For instance, we need to check for other debts, liens, and executions
 
Third, we need to arrange for the Discharge of the existing mortgage, and obtain its position as to how much it is owed.
 
Fourth, we need to communicate with the new mortgage company, and arrange for it to provide the necessary funds for the closing date; 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.
 
Sixth, we need to attend to the actual closing: delivering certified funds to the current lending company and paying off the current mortgage, and then registering the new one, and then reporting it all to you and the lender and the title insurer.
 
 
 
   
 
 
 
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