If you are buying a property located anywhere in Ontario, Real Estate Lawyers.ca LLP can assist you with the closing.
Included in our flat-rate legal fee is one remote video signing appointment. You can sign by video conference anywhere in the world from 7am-midnight (EST) 7 days a week.
Video conference anywhere in the world from 7 am-midnight (EST) 7 days a week
Pay your down payment electronically to our trust account via bill payment
Pick up your keys at any of our 30+ offices locations throughout Ontario
Speak to a lawyer for legal advice on your transaction
Client portal to manage all of your transactions (coming soon!)
We wire your closing funds to the seller’s lawyer from one of our trust accounts (we have accounts at all major financial institutions to maximize funds transfer speed between lawyers)
Each of our lawyers has $59 million insurance coverage per transaction whereas the industry standard is $1 million
We can close transactions where the purchase price exceeds $1M as each of our lawyers has $59M per transaction, whereas LawPro has advised that 99% of all lawyers only have the minimum insurance of $1M per transaction.
What is needed from you to get started?
STEP 1 (Send Us Your Agreement of Purchase and Sale):
Forward your Agreement of purchase and sale (and Status Certificate) along with all waivers to our office. (Can be sent by you or your Real Estate Agent)
STEP 2 (Contact your Lender):
Contact your Mortgage Broker or Lender (Bank)
Let them know that we will be representing you;
Ask them to forward Mortgage Instructions to our office.
To hire Real Estate Lawyers.ca LLP all you need to do is get us your Agreement of Purchase and Sale by email or fax:
Email: [email protected]
How do I qualify for the first time buyer land transfer tax rebate(s)?
To qualify as a first time homebuyer you cannot have owned property anywhere in the world. If there are more than one person on title and one of you qualify and the other does not, please contact our office toll-free at 1-855-466-3801 and one of our lawyers will assist you with your personal circumstances.
When will I be contacted by my Clerk/Lawyer regarding my file?
Once we receive your Agreement of Purchase and Sale, we will open your file within 1 (one) business day. You will receive a detailed closing checklist of what you need to do before closing.
Your law clerk will be in touch with you approximately 10 (ten) days prior to your closing date.
You will not hear from us before then but you can contact us by phone or email at any time if you have questions along the way.
What information does Real Estate Lawyers.ca LLP need to close my purchase?
When we open your file you will receive a closing checklist.
We require you to complete your intake form
We also need your bank/lender to forward mortgage instructions to our office by fax 1-855-466-3803. Such instructions are required for us to register your mortgage on your ownership and for the bank to advance funds to our firm on your closing date.
When do I sign my closing documents?
Once we have all documentation from your lender we will be able to finalize the documentation for you to sign. If our instructions are followed and we receive mortgage instructions more than 5 business days prior to closing we will be sending you an appointment request 2-5 business days before closing. We prefer not to have you sign on the day of closing as it causes you too much stress.
Where do I sign my closing documents?
You select the time and location of where you want to sign your documents. For example, Saturday night at home, or during lunch time at work, or after work at home. Included in your flat rate legal fee is one remote video signing appointment. Visit www.RealEstateLawyers.ca/Mobile for more details about our mobile signing option. We operate such service from 7am-midnight (EST), 7 days a week.
Where do I pick up my keys?
You may select from one of our 30+ locations as to where you want to pick up your keys. Please be sure to let us know which location you prefer early on in the process to ensure that we have enough time to instruct the seller’s lawyer who is responsible for sending keys to such location.
When do I pick up my keys?
Keys are available for pick up at the office (presuming the Seller’s lawyer has followed instructions on where to send keys) that you selected on the day of closing but only when your deal closes. Typically, purchase transactions close between 2-5pm. We have closed deals before such time but normally your deal will close in the afternoon.
Once the transaction closes, your law clerk will email you confirmation that the deal is closed and you can proceed to the office location selected to pick up your keys.
Ensure you are at the office for key pick up before 5pm.
How much are your legal fees and what disbursements/closing costs do I pay?
Our flat rate legal fee applies to a residential single family dwelling on city services, being vacant on closing with one first mortgage and no other encumbrances or liens on title. Our disbursements (if applicable) comply with LSO Rule 4.2-2.1: HST, land transfer tax, govt. document registration fees, fees charged by govt., Teranet fees, costs of condo status certificate, lawyers creditor's letters and title insurance. The fee is valid if our firm is hired and receives the Agreement of Purchase and Sale and mortgage instructions at least 5 business days prior to closing. If any unforeseen issues arise you will be notified immediately. Note that additional charges apply to investment properties, commercial properties, occupancy closings, lines of credit or additional mortgages/lines of credit, bridge loans or any other matter beyond the scope of a standard real estate transaction.
Visit www.RealEstateLawyers.ca/quote for a detailed quote for your transaction which can be instantly emailed to you.
When do I provide Real Estate Lawyers.ca LLP my closing funds?
In order for us to provide you accurate final figures, we require the seller’s lawyer to provide us the Statement of Adjustments (which is the total amount owed to the seller adjusting for things such as property taxes and condo fees (if applicable)) and the net mortgage advance from your lender. Once we are provided these two figures we can provide you with accurate final figures and how much is required to close your transaction.
Funds are required BEFORE the closing date to be deposited into our trust account.
How to I pay Real Estate Lawyers.ca LLP the closing funds?
We are a bill payee with all major banks. Just add Real Estate Lawyers.ca LLP as a bill payee, add your file number as the account number and enter the amount owed.
All funds are deposited the next business day to our trust account.
What is an insurance binder?
An insurance binder is required to close your transaction. Fire insurance is required for your lender and we will not receive mortgage funds without your insurance binder.
You will be provided instructions as to what info is required on the fire insurance binder. Speak to your insurance broker as they will be aware of such requirements.
Your Lender must be noted as a loss payee.
How are mortgage instructions set to Real Estate Lawyers.ca LLP?
Mortgage instructions are sent directly from your lender to our firm by fax. We cannot rely on your mortgage commitment as the mortgage instructions provide further details as to how your lender requires their mortgage to be registered on title.
I have signed a mortgage commitment, what else does Real Estate Lawyers.ca LLP need from my lender in order to get mortgage funds on the day of closing?
We require mortgage instructions to be faxed from your lender to 1-855-466-3803 and a fire insurance binder from your insurance broker. Your lender must be noted as a loss payee.
When do I receive my closing report and registered Deed and Mortgage documents?
Once we close your transaction and register you as the new owner you will receive an email confirming that your deal is closed. Attached to this email will be your closing report and your official Deed and mortgage.