Real Estate Lawyer Newmarket

If you’ve never used remote real estate closing services before, you may not realize just how convenient they are. You can sign conditional offers to purchase, or arrange transfers of property title all from the comfort of your home or office. An Axess Law real estate lawyer in Newmarket joins you by secure, confidential video conference to review legal documents, or witness your signature online. Before you know it, your real estate transaction is done.

Buying a Real Estate Property in Newmarket

Our Vision

Buy local investment properties by remote video conference. Your Axess Law real estate lawyer in Newmarket can conclude real estate offers you make using confidential, secure video conferencing technology. We review your agreement of purchase and sale to suggest essential clauses that protect your buyer’s interests. When you hire our professional Newmarket real estate lawyer service, we liaise with your realtor, lender, and the seller’s lawyer to conclude the deal, any time that’s convenient for you.

Selling a Real Estate Property in Newmarket

Selling a home or investment property, but not sure if a buyer’s offer to purchase is legally binding? An Axess Law real estate lawyer in Newmarket can review conditional offers or pending sales. We go online with you to discharge existing mortgages, or arrange your signature for new mortgage financing you take out. If you are selling and buying on the same day, we co-ordinate both transactions with the buyer’s lawyer and your lender.

Refinancing a Real Estate Property in Newmarket

Refinancing your home could keep interest rates at bay. When you decide on a plan of action to tame the high cost of home financing interest expenses, call an Axess Law real estate lawyer in Newmarket. We connect with your bank or other lender to prepare documents they require to refinance your mortgage.

You sign by virtual video conference, and we email the documents back to confirm your acceptance of a refinancing offer.

Get Started

About Newmarket

Newmarket’s biggest claim to fame could be comedians John Candy and Jim Carrey, both born here. The quaint historic Main Street, and brand name stores at Upper Canada Mall have earned the bedroom community a reputation as a shopping way-stop. Midway between Toronto and cottage country, Newmarket is on MoneySense Magazine’s list of best places to live in Canada. Fairy Lake Park, or Wesley Brooks Memorial Conservation Area, and 44 kilometres of walking trails are part of the reason why. So are the town’s low taxes, affordable homes, and business-friendly attitude.

Sign Real Estate Documents by Video

Your Axess Law real estate lawyer in Newmarket can video conference with you anywhere in Ontario. Call to talk to real estate lawyers 7 days a week, day or evening, at your convenience. Our online video calls and remote signing services take the work out of closing real estate transactions. Timely legal advice and low flat rate legal services — make your appointment by dialing 647-479-4118 in Toronto (toll free to 1-877-552-9377) or use our easy online booking form to find a remote real estate lawyer in Newmarket. Debit, cash, VISA, or Mastercard accepted.

Some FAQs

How much are real estate lawyer fees in Ontario?

You may be surprised at how economical hiring an Axess Law real estate lawyer in Newmarket really is. We keep our flat rate legal fees low by providing only the real estate lawyer services you need. You could pay $999.99 and up plus HST to buy a home, or $799.99 and up plus HST to sell a home in Ontario (call for our current rates or a quote). Your Axess Law real estate lawyer in Newmarket has no extra charges or hidden surprises. You pay the same low, flat fees regardless of whether you use our virtual real estate lawyer in Newmarket, or drop by Axess Law’s open law offices in Greater Toronto Area or Ottawa.

What does a real estate lawyer do for the seller in Ontario? What does a real estate attorney do for a buyer?

Your Axess Law real estate lawyer in Newmarket reviews your agreement of purchase and sale for essential clauses for buyers, like the right to a professional home inspection. Our attorneys check the offer to purchase for the seller’s right to cancel if a buyer is late with a good faith deposit, or to keep the deposit if the buyer walks away without mutual consent.

You can use your virtual real estate lawyer in Newmarket to amend contracts to change terms and conditions when needed. If a seller gets a better offer, or a buyer wants minor repairs made, we negotiate with the other party’s lawyer on your behalf.

Axess Law adds title insurance to homes and property to prevent mortgage fraud, and transfers the title from seller to buyer to conclude the sale. Our virtual real estate lawyer in Newmarket prepares a final statement of adjustments showing your fees and expenses, collects your keys, and ensures your real estate transaction is complete.

Can you "renovict" tenants when you buy an investment property?

You can renovate or repair an investment property you buy, and if those improvements are major, temporarily move tenants out during that time. You can evict tenants permanently to demolish a building or, zoning permitting, convert it to other uses like commercial property, or if you or your family plan to move in.

Naturally, most property owners who incur renovation expenses want to recoup their expenses by raising the rent. That’s rarely possible, and evicting tenants for renos is a bit more complicated than merely handing them a N13 form.

Here’s why:

  • The improvements have to require the tenant to temporarily vacate.
  • A minimum 120 days written notice and the N13 are required.
  • Tenants can move out earlier by giving you 10 days written notice and N9 form.
  • You need a municipal building permit.
  • Your tenant can move back. They must give you written notice if that’s their intent.
  • You owe tenants three months’ rent or alternate accommodation if you renovate five or more units at a time.
  • You can only raise the rent if your former tenant declines to return, and you rent to someone new.

Can you borrow more than your home is worth?

You mean take out a collateral mortgage, like those offered by TD Bank or ING Direct. Here’s how it works:

  • Most mortgages are linked to a home’s or land’s appraised fair market value.
  • Your lender sends around an appraiser to calculate what a home is worth, based on its condition and location. That amount determines the size of your mortgage. Your down payment rests on the gap between the amount you offered for the home or land minus its fair market value.
  • Collateral mortgages are readvanceable mortgages. Increasing your mortgage is simple because the lender advances more money as your home’s value increases. You can add to your mortgage without incurring refinancing charges or legal fees. You can take out equity for renos or travel without having to apply for a home equity line of credit (HELOC), or finding a new lender.

On the downside, your registered mortgage may appear larger than it really is. Holding a $500,000 collateral mortgage when you only owe $375,000 (the extra $125,000 being money you could borrow but haven’t) may make it more difficult for you to borrow other credit, like a credit card.

Is it legal for minors to buy real estate?

Not technically. Minors can possess property, as London teen Tyson George does. The 16-year-old has three rental properties purchased with savings from buying and selling recycled goods like furniture, iPads, and collectibles. As for who bought the properties, George made the down payments, paid lawyers’ fees and land transfer taxes, and funded the renovations. He even vettes the tenants. His parents own the mortgages used to finance the homes. That’s because, like all minors, George can’t legally own real estate until he turns 18.

Is there a penalty to cancel a real estate listing?

Not obviously, although your contract may require that you compensate the real estate brokerage for expenses like professional photography, measuring the rooms and lot, or advertising. The brokerage may even give the rights to reuse the photos, if you list your home privately and the photographer consents.

That’s assuming the brokerage agrees to terminate the contract. You could be faced with a conditional termination, requiring you to agree not to relist your home until the original listing expires. You could even be liable for a dual commission if you break a legally binding contract without the brokerage’s consent, and your home subsequently sells.

Do I need a real estate lawyer in Ontario?

Your Newmarket real estate lawyer can complete the legal documents required to finalize a purchase or sale of a home or land. Concluding a real estate purchase or sale is a legal transaction, separate from the assistance your realtor or MLS listing service gives you. Your home sale or purchase is not valid or legally binding until title to the property is transferred by a lawyer. Your Newmarket real estate lawyer will calculate land transfer taxes, and adjust property taxes and utility costs so you pay only your fair share. Your Axess Law real estate lawyer in Newmarket checks for financial claims or construction liens, and discharge mortgages, then hand you the keys.