Real Estate Lawyer Sudbury

Axess Law’s remote real estate lawyer in Sudbury gives you valuable legal assistance whether you buy or sell investment property, or purchase matrimonial real estate. Legally married spouses or common law partners on title to real estate you share may have property rights that affect your right to sell. An Axess Law virtual real estate lawyer in Sudbury can video conference with you to explain how to structure a title to give you or your spouse the right to keep or dispose of property you own. Real estate investor? We close your transaction for less than traditional law offices.

Buying a Real Estate Property in Sudbury

Our Vision

Get fast, efficient legal services when you buy real estate in Ontario. Even transferring a cottage at the lake to loved ones requires a real estate lawyer’s assistance. Your Axess Law Sudbury virtual real estate lawyer checks title to property you make an offer on. We arrange transfers to family or friends, or discharge mortgages when you sell existing real estate to relocate or re-invest. You pay flat fees for most real estate transactions, and hiring a virtual Sudbury real estate lawyer makes signing by video conference a breeze.

Selling a Real Estate Property in Sudbury

Sell real estate you live in or rent for income with Axess Law. Your Sudbury virtual real estate lawyer reviews agreements of purchase and sale prospective buyers make. We advise you on how to proceed if a real estate buyer requests more time or tries to cancel. If a new real estate offer comes in that you prefer, we check if a sales contract contains penalties or the irrevocable period has passed. Call Axess Law for solutions to all your real estate questions.

Refinancing a Real Estate Property in Sudbury

Refinance quickly and easily with an Axess Law Sudbury virtual real estate lawyer. When you prefer to refinance instead of renew, email your lender’s offer to Axess Law.

Your licenced Sudbury real estate lawyer can check the fine print for prepayment penalties or lump sum payment options and get back to you with the legal papers you need to sign.

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About Sudbury

The Nickel City has a surprising French-Canadian flavour. Traces of its past as a nickel mining giant can still be found in the blackened hills that surround Sudbury. Located on Georgian Bay, Sudbury is located on traditional Ojibwe territory. Underground tours of the mines are a fun outing for kids or adults. Best hidden gem: the Grecian columns and statues of the Grotto of Our Lady of Lourdes in downtown Sudbury. Catch views of Ramsay Lake while you visit the Stations of the Cross. Live music nightly and nearly 300 nearby lakes make Sudbury “the happiest city in Canada.”

Sign Legal Documents by Video

Your Axess Law real estate lawyer in Sudbury can video conference with you 7 days a week, 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 online booking form to find a remote real estate lawyer in Sudbury. Debit, cash, VISA, or Mastercard accepted. Axess Law makes hiring a virtual Sudbury real estate lawyer easy.

Some FAQs

Is it worth considering real estate that has an active offer?

Sure, a real estate offer is not a sale. Anything can happen in the meantime – real estate buyers  may walk away if they can’t get financing or change their mind. Some sellers direct their realtor to continue accepting back-up offers until all subject-to conditions are removed. (A home where all contingencies have been met is less likely to come back on the market and is probably not worth pursuing.)

Can you be sued for cancelling a real estate sale if the buyer can't find an equivalent home?

Yes. A Brampton couple received $185,000, including costs and interest, for a similar complaint (Datta v Eze, 2020 ONSC 4796). Cancelling a real estate sale requires mutual consent between buyer and seller. When a sale is rescinded, courts look at the impact on the buyer. For example, in Datta v Eze, the court found the property was the only one that satisfied the real estate buyers’ unique wish list. The fact it appreciated by $150,000 more than the home they eventually bought contributed to the size of the settlement.

How seriously do I have to take the mortgage stress test?

How big is your down payment and how much do you need to borrow to buy real estate? BMO  calculates a $726,000 mortgage with 20% down on a five-year fixed term with a 25-year amortization would cost $3,764 per month at 6.14% (September 2022 rates). To get the mortgage, you have to show you can afford to buy real estate even if interest rates increase by a minimum qualifying rate. That rate is the higher of your interest rate plus 2% or 5.25%. In other words, your lender will assess whether you could still make the payments if your interest rate was 8.14% ($4,485 monthly).

Does getting a high ratio mortgage affect my future real estate purchases?

If you mean does it make you appear like a credit risk to lenders, not typically. Your income may increase by the time you make your next real estate purchase, or you could be buying a home with rental income. Future lenders are more interested in whether you consistently make mortgage payments on time, and how you manage debts like credit cards. Before you apply next time, ensure your credit score is solid, and reduce or consolidate debts.

Is there a cooling-off period when you buy a home?

Other than for new condos purchased from builders or developers, generally not. New condo buyers can withdraw their offer within 10 calendar days of receiving the agreement of purchase and disclosure statement. Ask Axess Law to review your contract to see if it has a cooling-off clause.