Buying or Selling: Why You Need a Real Estate Lawyer

Your offer has been accepted. You’re ready to move in.

You sold your Toronto condo. Finally, you got the price you wanted. The deal is done. 

Wait a minute. 

Why Do You Need a Lawyer?

No one likes reading fine print. That’s why you hire a lawyer. They do it for you. They’re pros at going through the details of your real estate deal and advising you. At Axess Law, our flat fee for buying or selling a home covers:

  • agreements of purchase and sale
  • title searches and insurance
  • status certificate reviews (condos)
  • mortgage instructions and discharges
  • realtors’ commissions
  • signing closing documents
  • and more.

What Does It Matter Anyway?

Agreements of purchase and sale seem simple. Why spend any more money? The fact is you could be agreeing to more than you realize. Like any contract, you are bound by what it says. Many buyers and sellers overlook extra charges for closing delays or damages for backing out. Let’s face it. You’re excited about buying or selling. You could be glossing over costly details, like your home seller rights or purchase obligations.

What Could Possibly Go Wrong?

If you’ve ever paid more than something was worth, you know the power of thinking things over. You may want to re-negotiate the offer price or terms. Our experienced lawyers can help you with that. The property valuation may be lower than hoped. Maybe your mortgage broker can’t offer the favourable interest rate you want. Could be your current condo sale isn’t going as quickly as planned. What if your home sale collapses? In Ontario, you could forfeit your real estate deposit if a home purchase falls through.

Are You Ready for New Home Construction Pitfalls? 

Buying a new home under construction can have perils. The construction agreement may be lengthy. Extra charges for upgrades can be surprising. Do you have to accept the keys if the builder’s finishes aren’t up to par? Then there are the delays. Can you afford to rent if your custom built home isn’t ready on time or the builder goes bankrupt? 

How Lawyers Can Assist Home Buyers

Axess Law’s real estate lawyers review buyers’ home purchase agreement. They sift through every detail and tell you what it means. They suggest changes to protect your finances and legal interests. “Firm agreement” takes on a whole new meaning in new construction. They practise due diligence on builder’s agreements. Just as importantly, they ensure the property title for a resale home is free of liens, debts, mortgages or title defects. 

When You Are Selling a Home

If you’re the home seller, your Axess Law lawyer can help negotiate terms and conditions. They discharge your mortgage or line of credit. Our lawyers are available 7 days a week, at your convenience, for a signing appointment to finalize the legal sale closing documents. They settle real estate commissions. You close the sales transaction with ease and peace of mind.

Exchanging the Keys to Your Final Sale

You’re almost there. Making the offer is just the first step until you’re home is sold or you are the proud owner of a new home. With Axess Law, you can exchange the keys with confidence. Let’s get started. Call 1-647-479-0118 or use our online booking form to make an appointment. 

Click here to learn more about Axess Law’s real estate services.

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