Toronto real estate lawyer fees you can afford, that’s Axess Law Downtown Toronto. Let an experienced Toronto real estate lawyer deliver the services you need for less. Call or book online for efficient legal services at great rates, or we can make virtual real estate lawyer appointments at your convenience.
When you need a residential or commercial real estate lawyer in Toronto, we take the pressure off buying or selling a home, commercial space, or office. Finding a real estate lawyer in Toronto to transfer title, discharge mortgages, and exchange the keys to your home couldn’t be easier. When a buyer or seller leaves you in turmoil, Axess Law can refer you to a trusted real estate lawyer in Toronto to discuss legal action.
Withdraw or amend an offer to purchase you made in haste when you hire an Axess Law real estate lawyer in Toronto. Ask our licensed attorneys for real estate about your buyer’s right to cancel or change a real estate contract. Your Axess Law Toronto real estate lawyer may retract an offer the seller hasn’t accepted within the irrevocable period. Next time around, we can include a clause in your real estate agreement of purchase and sale to allow you to back away from or change a deal if your circumstances change (if the seller agrees).
Irksome title errors may be corrected when you hire an Axess Law Toronto real estate lawyer. We search title to real estate to locate clerical mistakes that can delay buyers from obtaining clear title to your home. Your Axess Law Downtown Toronto real estate lawyer can do a title search before or after you list your home for sale. We remedy errors before they get in the way of selling real estate for a fair price.
Take advantage of declining interest rates when they occur. Refinancing your home’s mortgage may reduce how much you pay for interest over time. An Axess Law Toronto real estate lawyer can finalize legal documents you need to use a mortgage loan to pay down debts or renovate your home.
Bring interest expenses back in line with a total mortgage refinance. Our real estate lawyers in Toronto liaise with your lender to make it happen.
Toronto Downtown is the business and financial district of Old Toronto, a space of towering skyscrapers and gathering places. Live theatres and the open festival atmosphere of Dundas Square mix with historic landmarks like 19th century cathedrals. See Massey Hall, the Toronto Stock Exchange, Royal York Hotel, Maple Leaf Gardens (home of the Toronto Maple Leafs), and the Toronto Police Museum and Discovery Centre in walkable, wonderful central downtown.
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Axess Law real estate lawyers in Toronto 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 remote real estate lawyers Toronto Downtown. Debit, cash, VISA, or Mastercard accepted.
Sure, provided your condominium corporation’s bylaws, rules, or regulations allow it. The right to make changes to exclusive use common elements like balconies, steps, or yards is included in section 98 (2) of the Ontario Condominium Act, 1998.
You must satisfy your corporation board changes to real estate you own won’t:
Before you begin landscaping projects that affect the appearance of a strata real estate project, talk to the building’s property manager or email the condominium corporation. That way you won’t be forced to remove your handiwork or pay a fine if the corporation disagrees with your interpretation of section 98 (2).
Changing jobs during a mortgage renewal is tricky. Lenders want proof your new job is stable, and that means making it through the probationary period, or being confirmed in your position. A promotion in the same company may be seen as low risk, but moving employers can put the brakes on your renewal. A new position that’s commission based or tied to performance targets, or moving from employee to manager, can equally cause a lender to hesitate.
Renewing your mortgage early (120 to 180 days before it’s due to expire) could give you some reassurance, but remember your lender can demand repayment at any time. Whatever you do, be honest about your situation. Not admitting to changes that could affect your financial circumstances is potential mortgage fraud, and could cost you your mortgage.
If a real estate renewal is uncertain, you can always ask a mortgage broker to locate a new lender who may be more risk tolerant. Private lenders tie their decision to the equity in real estate, not your immediate income or job prospects. Switching lenders could give you the time you need to get established in your new position, and look for longer-term mortgage financing for a principal residence or real estate investment.
Only if it is zoned residential or live/work.
For purely logical reasons, insurance policies typically don’t permit you to live in a commercial real estate unit you lease or buy. Besides obvious concerns, like who’s liable if a fire breaks out, purchasers are bound by municipal bylaws. While living where you work may sound genius to you (save on rent and commutes!), real estate bylaws exist for more practical reasons.
For example:
A commercial warehouse can be a cold, barren place at night, isolated from neighbours, and far from emergency aid. Even in a downtown office tower, you could be surprised to find centrally controlled HVAC (heating, ventilation, air conditioning) systems switch on and off throughout the night. Turning up the heat (if you can) will be noticed by building management. Leaving your vehicle overnight in a commercial real estate space is a dead giveaway.
The City of Toronto ruled out using condos strictly for short-term real estate rentals in 2019. Homeowners have to register, remain onsite, and pay a 4% MAT (municipal accommodation tax). That said, Airbnb rules in the Greater Toronto Area vary by municipality and building. Start by checking your condominium corporation bylaws, rules, and regulations. Your corporation may deny or restrict short-term rentals.
Now that you know the rules, what happens if you make an offer on a condo building before you realize it has a reputation for being a “ghost hotel” or party hang-out? Given how popular Airbnbs have become, you need to seriously investigate real estate investments before you buy.
As part of the “subject-to” conditions in your offer to purchase, your realtor can give you a contact to request a mandatory status certificate from the condominium corporation. Checking a year or two of corporation minutes for complaints from current owners could give you the information you need to decide if you want to proceed with a real estate offer.
Your Axess Law Toronto real estate lawyer can advise on your buyer’s right to cancel by reviewing your agreement of purchase and sale. Protect your legal rights if your worst fears are confirmed by talking to us before or after you make a real estate offer.
How you respond to real estate market conditions depends on the timing. Selling a home for less than the outstanding mortgage amount makes you liable for any shortfall. Legally speaking, you could be forced to forfeit your home if the lender forecloses, or pursues their right to sell (called power of sale).
Consequently, now is not the time to switch lenders if you can avoid it, or make hasty decisions. You could keep the mortgage paid on schedule, and hope real estate prices recover. When your mortgage term comes due, your lender may simply have you sign the paperwork to renew on the understanding real estate prices fluctuate.
If the gap catches up with you, consider your options:
That’s the time allowed under the Ontario Mortgages Act to make up missed payments when you receive a notice of sale under mortgage from your lender. Lenders can issue a notice of sale within 15 days of a single missed mortgage payment.
The Mortgages Act gives you 35 days (40 for legally married couples) to redeem your mortgage by bringing it into good standing or paying it off in full, including your lender’s legal fees. Failure to do what the lender requests results in a statement of claim filed in court, and a legal order to evict you and repossess your home.
Finding a real estate lawyer in Toronto, or anywhere in the GTA, can add thousands to real estate you purchase, sell, or refinance. Axess Law has a Toronto real estate lawyer for any budget. Our legal services are flat fee, which means you pay for only the real estate attorney services you actually need.
