Home Purchase, Sale, & Mortgage Finance Law

Whenever a residential property is purchased or sold, there is usually entered into a standard form of purchase agreement in the form prescribed by the Real Estate Board or in some other similar form.  Both the purchaser and the vendor are well advised to read and understand this form which typically will be explained to them by the Realtor.  However, in special circumstances, including the purchase of a condominium property, the purchase from a builder or where there are known problems, the services of a lawyer are strongly recommended.

Financing of residential properties is done by way of mortgage against the property.  The lender’s agents usually provide “advice” to the purchasers with respect to the terms the mortgage transaction.  Again however, if there are special circumstances or the borrower is concerned about some particular provisions, then it is strongly recommended that the borrower consult with a lawyer.

Once the Agreement of Purchase and Sale has been signed and the mortgage arranged, the lawyer handles the preparation of the formal documentation, signatures, adjustments to the purchase price, registration of the documents, and the flow of funds.  It is generally impractical for a vendor or a purchaser to handle the matter directly without the use of a lawyer.

We help you to complete your real estate transaction on time, and we guarantee that you obtain clear title to the property you are purchasing, or that you receive the full sale price for the property you are selling. This includes:

  • Searching title, obtaining copies of encumbrances, and obtaining a tax certificate;
  • Preparing or reviewing the Statement of Adjustments and the trust conditions;
  • Reviewing instructions from the mortgage Lender or obtaining payout statement;
  • Preparing all necessary documentation;
  • Meeting with you to explain all aspects of the transaction and obtain execution of documents;
  • Attending at the Land Titles Office to register the transfer, mortgage and any other required documentation;
  • Reporting to the mortgage Lender and requesting the mortgage advance or paying off the existing mortgage;
  • Paying or receiving the Cash to Close; and
  • Providing to you a complete report of the transaction.

Please contact us today to discuss how we can help you.