If you require any assistance on your transaction, whether it be clauses or simply discussing strategy, feel free to contact us to speak with one of our senior partners complimentary.
Bank of Canada reduces policy rate by 25 basis points to 4¼%
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Mortgage Refinancing
In today’s #QuestionoftheDay video, Real Estate http://Lawyers.ca LLP’s very own, Mark Weisleder, explains "How to Know if You’re the Right Candidate for Mortgage Refinancing?"
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Visit www.RealEstateLawyers.ca/quote for a detailed flat rate for your transaction. Ontario real estate lawyers typically charge a flat rate legal fee of $1000 plus HST for a real estate transaction under $1 million plus land transfer tax, govt registration fees and title insurance. For a sale transaction, typically the legal fee is $900 plus HST plus the LSO Levy.
Yes you require a real estate lawyer in Ontario when you purchase or sell property in Ontario you are required to hire a lawyer to close the transaction.
RealEstateLawyers.ca can represent both sides of a transaction with separate lawyers and law clerks.
A real estate lawyer will review the agreement of purchase and sale/amendments, review the title/ownership of the property, requisition any matters that need to be dealt with on title, review closing documentation and figures for closing, attend to registering the necessary documents in the government Land Registry Office, transfer funds to the seller lawyer on closing and reporting to the client. On a sale file, the lawyer reviews the agreement of purchase and sale/amendments, review the title/ownership of the property, responds to requisitions of matters that need to be dealt with on title, review closing documentation and figures for closing, attend to registering the necessary documents in the government Land Registry Office, transfer funds to the seller and third parties on closing and reporting to the client, discharge any mortgages on title.
You need to know how much you can afford before buying a home in Ontario. We recommend that you work with your mortgage broker or lender to get pre-approved for a mortgage before you purchase a property. This way you know how much you can afford and can find a property that suits your needs.
The Canadian government helps first-time home buyers by allowing you to qualify to use RRSP funds towards your down payment. We suggest speaking to your financial planner or bank for more advice.
Closing costs in Ontario can be found by visiting www.RealEstateLawyers.ca/quote for a detailed flat rate for your transaction. Typically closing costs for a real estate transaction under $1 million is $1,000 plus land transfer tax, govt registration fees and title insurance. For a sale transaction, typically the legal fee is $900 plus HST plus the LSO Levy.
Yes you can sell your home without a Realtor but you are required to use a lawyer to close the transaction. We do recommend speaking with a Realtor as they are able to assist with market evaluation, marketing of the property, staging, sales negotiations, drafting the agreement and other advice that may get you more money for your property.
Yes the seller needs a lawyer at closing in Ontario. All parties to a real estate transaction in Ontario must be represented by a real estate insured lawyer.
Yes you can negotiate realtor fees in Ontario but this must be done prior to signing the listing agreement or buyer representative agreement with your agent.
Yes real estate fees are negotiable in Ontario but this must be done prior to signing the listing agreement or buyer representative agreement with your agent.
You pay Ontario Land Transfer Tax and if in Toronto, Toronto Land Transfer Tax when you buy a house in Ontario. Visit www.RealEstateLawyers.ca/quote for a detailed flat rate for your transaction.
You will also be required to pay the property tax to the municipality.