If you are considering hiring a real estate lawyer, you should first become educated about what his or her role will be. You will have to provide your lawyer with whatever documentation is requested, and the fees you need to pay the lawyer will likely be substantial.
Your lawyer will probably begin by providing you with information about the fees you will need to pay while working to secure a mortgage. Some of these costs will be legal fees, disbursements and the land transfer tax.
There may be hidden charges if you have bought a new home from a builder, and a real estate lawyer can help you plan for these. There are many fees you may encounter in this category, like grading deposit, fencing, hydro and water charges. The Ontario New Home Warranty Enrollment Fee is another of the many costs you may not know about.
Your lawyer can also help you after the terms of your agreement have been settled and your offer has been accepted. You will need to pay for searches, like utility, registered title, building, zoning, planning and property tax searches.
Once you have prepared for your fees and charges, your attorney will send letters to ensure there are not any sales contracts, unregistered agreements, easements, or liens on your property. Letters may also need to be sent to locate other equipment or encumbrances, and to local utility departments to determine if there are leftover charges for the property.
Your lawyer can uncover unexpected issues that you may face down the road with your property, like rules about parking, fencing, easements, final meter readings for the seller, and many more. Your lawyer can also help you obtain a tax certificate, and check on the restrictions, zoning by-laws and more for your neighborhood.
There are many other searches and reviews your lawyer can help you with, like contacting the seller’s lawyer to request necessary issues uncovered in the initial searches be addressed. He or she may also check for executions, prepare your mortgage documentation and advise you in many areas related to the mortgage and home buyer incentive programs.
Ontario Home Ownership Savings plans, Land Transfer Tax Rebate programs, RRSP plans and CMHC 5 percent down payments are among these beneficial programs. Your lawyer can help determine what you qualify for.
There are many more advantages to working with a real estate lawyer, and the money you spend on hiring a lawyer can bring you significant savings in the long run. There are so many considerations when purchasing a home that it can be difficult for a potential buyer to work through it all alone.
Looking for a new home or some legal advice? Find your new dream home and protect yourself in Ottawa:
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[column size=”1/3″]Richcraft Homes
Ottawa Homes[/column]
[column size=”1/3″]2280 St. Laurent Blvd, Suite 201
Ottawa, ON K1G 4K1
Phone (613) 739-7111
Fax 613 739-7102
info@richcraft.com
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[column size=”1/3″]AGB Lawyers
Ottawa Lawyers[/column]
[column size=”1/3″]1 Antares Drive, Suite 530
Ottawa, Ontario K2E 8C4
Phone: (613) 232-8832[/column]
[column size=”1/3″]View Map[/column]
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[column size=”1/3″]Condos château cartier
Gatineau Condos[/column]
[column size=”1/3″]
Phone (819) 966-5716
Email info@condoschateaucartier.com[/column]
[column size=”1/3″]View Map[/column]
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