The real estate market can be complicated and often leaves buyers with more questions than answers. Whether you are a first-time home buyer or have purchased several pieces of property over the years, it’s imperative that you seek out a legal professional to help you navigate any real estate transaction.
We understand the importance of being informed before making a big decision. Here are some of the many benefits of hiring a real estate lawyer that will enable you to move forward with confidence.
Top benefits of hiring a real estate lawyer
- A real estate lawyer will go over all of your legal documents including your Purchase Agreement of Sale. Based on the details outlined, they will provide you with professional guidance and make amendments where needed. Your lawyer will make sure to call your attention to any potential problems as well as answer any questions you may have.
- A real estate lawyer can act as a mediator between yourself and your realtor, mortgage advisor, or lender. They can help you navigate complex scenarios that you may find difficult to approach, or simply cut down on the work you have to do for yourself.
- A real estate lawyer can arrange for Title Insurance. This is an added layer of security that can protect you from unknown title defects, title fraud, liens against the property’s title, and more.
- A real estate lawyer will ensure that the property taxes are up-to-date. They will also calculate the land transfer tax which is paid to the province.
- A real estate lawyer will assist with your closing which is one of the most critical steps in the home-buying process. Not only will they prepare the necessary legal documentation, but they will also ensure that the funds are given to the appropriate parties and will obtain the keys from the seller’s lawyer on closing day. Ultimately, they close the transaction and ensure the transfer of ownership.
At what point do you need a real estate lawyer?
It is in your best interest to contact a lawyer very early on in the process. A real estate lawyer can find issues that may not otherwise be detected. Having to deal with certain issues too late in the process can push your closing date out and lead to more problems that could have been avoided.
The benefits of a real estate lawyer are practically endless. If you’re new to the home-buying process, contacting a real estate lawyer is the best way to ensure that everything goes according to plan. Even if you have experience in the market, a real estate lawyer can still help immensely by saving you a great amount of time, money, and effort.
