The Biggest Mistake Ontario Property-Buyers Make BEFORE Buying Their Property and How You Can Avoid It
What’s the biggest mistake Ontario property buyers make before buying their property? It’s underestimating the need for a qualified real estate lawyer. Yes, you need one – especially in this super-charged market. It’s required in Ontario by law and for good reason.
Ontario real estate is tricky – there are so many ways your real estate transaction can go wrong – and a Real Estate Lawyer will help you avoid them. These professionals, with their expertise and experience, will work hard to ensure that real estate contracts and transactions truly work in your best interests.
Many people have shared horror stories of real estate agreements and transactions working against their best interests, issues that could have been solved well before the purchase date with a caring and qualified real estate lawyer. This comprehensive guide will answer all of your questions and help Ontario property buyers avoid these pitfalls.
“I am buying a property in Ontario - when do I need to hire a real estate lawyer?”
For Ontario property buyers, consulting a real estate lawyer before purchasing a home is simply common sense. Your house is likely the most significant investment you’ll ever make, and for prospective Ontario homeowners, having a lawyer review all documents can prevent costly mistakes and alleviate stress during the transaction.
Real Estate Lawyers will help you avoid the potential risks – helping you achieve your dream of homeownership with a positive experience
Real estate purchases, by their nature, are large and complex – particularly for Ontario property buyers. Therefore, it’s imperative for anyone purchasing property in Ontario to have a lawyer during the closing process to avoid potential pitfalls, such as:
- Immediate, back-to-back sales of the property in order to inflate the price
- The seller potentially misrepresenting themselves and not owning the property before selling
- Legalities relating to infrastructure, development, renting, insurance and tax exposures, among others
Without a lawyer by your side, you open yourself up to critical vulnerabilities – including bankruptcy.
We will help you navigate your first home purchase or first home sale – or both at the same time
Why Ontario property buyers should hire a real estate lawyer to examine their documents?
For Ontario property buyers, real estate documentation is as critical as any legal document; never sign anything without professional review! During Ontario real estate transactions, buyers must sign numerous documents before closing, making thorough review essential.
There are so many horror stories of real estate scams and frauds in Ontario, where innocent buyers were cleaned out of their down-payment or forced to pay unnecessary fees.
What is the role of a real estate lawyer? A house closing lawyer will be able to comb through your real estate documents, agreements and contracts and parse out the legal jargon- so you understand the entirety of the contract before signing. Any red flags will be brought up and negotiated aptly on your behalf. This is especially important for anyone who has not had prior experience in the real estate market – and will do wonders for your peace of mind as you achieve your dream of homeownership.
These rules apply beyond the scope of residential real estate
Do you need a real estate lawyer for commercial real estate? Absolutely! Commercial real estate transactions are a lot more complicated than residential real estate deals…and they cost a lot more. Real estate lawyers will examine the leases and purchase agreements to make sure that you understand all your obligations upon signing for your commercial property.
Your Ontario real estate lawyer will ensure that you get the best terms possible when you close by doing all the legal research and investigation for you
Real estate lawyers offer a variety of services to help you in your journey to homeownership. During the purchase, there’s a lot of information you need to know about the property itself before you can confidently sign-on.
What does a real estate lawyer check for before you buy a house? A house closing lawyer in Toronto will check for:
- Liens on the property
- Title authenticity
- Access, property boundaries, shore road allowances, and encroachment concerns
- Property taxes and arrears adjustments
- Additional niche risks
Most people do not have the experience nor the expertise to do this homework by themselves – and often when they do, they do it incorrectly – that’s why they consult real estate lawyers.
Your real estate lawyer has seen it all – and knows exactly how to protect you
Like a knight in shining armour, or a 24/7 bodyguard, your real estate lawyer shields you from the potential issues that you can face when you purchase real estate.
A real estate closing lawyer in Toronto will represent you and will negotiate on your behalf during the purchase. They may even be more effective at negotiating due to their years of industry experience– making your life easier and stress-free. They’ll support you through every step of the transaction, so you’ll never be surprised. The best way to ensure that your purchase is perfectly protected is to hire one of our real estate lawyers.
We’re proud of the work we do with our clients
Ask any Ontario home-buyer, commercial real-estate buyer, or investment property buyer how they would recommend ensuring that your real estate transaction goes off without a hitch.
Hire a Real Estate Lawyer.
RealEstateLawyers.ca LLP is an Ontario real estate law firm, and we offer a full suite of real estate law services, including in-person signing and virtual signing.
We offer fixed retainer costs to you when you buy, sell, mortgage refinance, or transfer the title of your property – with no drama or surprises – anywhere in Ontario.
Book an in-person appointment with one of our Ontario real-estate lawyers in minutes by using our simple and easy online form. Appointment hours are convenient and flexible, daily, fit your schedule.
Or, you can meet with our qualified real estate lawyers virtually through our confidential and secure Ontario-wide video conferencing. We make e-signing easy, or we can deliver documents to your doorstep.
Contact us to work with a top Real Estate Lawyer in Ontario today to ensure your successful real estate transaction and your peace of mind.
Call us today at 1 (855) 466-3801 or email us at [email protected].
