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What to expect from a real estate lawyer
Adapted from Joseph Richer Registrar
Working with a real-estate agent brings a number of benefits and things you can expect when working with a real-estate lawyer.
They both have different levels of experience and expertise.A real-estate lawyer , like a real-estate professional, has a duty to ensure your best interests are protected during the course of a trade. For example, a real estate lawyer can review the terms in the Agreement of Purchase and Sale, conditions, waivers and related documents
And take the necessary steps to have the contract legally completed.
A lawyer can review your offer to determine whether it protects your rights and adjust it to better suit your needs. If there are appliances or
fixtures that you would like included in the sale, be sure to let your lawyer know.
Other things to expect from working with a lawyer:
- Check the title to ensure the seller owns the property and is in a position to legally sell it.
- Review condo status certificate.
- Identify any liens or work orders on the property.
- Take deposit funds and place them in their trust accounts pending closing.
- Register the transfer on the provincial land titles registry.
- Advise on zoning issues.
- Arrange for the orderly transfer of funds and commission to the correct parties.
- Provide the buyers with the keys on closing.
The real - estate agent can scout new listings, book and handle showings , prepare a comparative market analysis and
Refer other services such as contractors or home inspectors. These are not typically included in a lawyer’s services but can be offered if insured for and qualified to provide.
In addition, when you are selling, real estate boards require anyone, including a lawyer, who advertises a home for sale on realtor.ca,
must be registered with RECO and be a paying member of a real estate board or association.
Real – estate commission and legal fees may vary, depending on who you work with.
Some lawyers charge a set fee and others charge depending on the level of service provided. Be sure to discuss the services and cost ahead of time.