Do you ever wonder why your favourite movie stars always look so good? Or why your local coffee shop is always perfectly clean and decorated for the season? The reason is simple; they have a team of professionals behind them who effortlessly make sure each and every meticulous detail is taken care of.
Before you start wondering how this relates to your home buying journey, think about all the professionals you have standing behind you as you search for your dream home. Besides your Real Estate Agent, you have a whole team of people helping guide you home, including a Real Estate Lawyer.
Role of a real estate lawyer as a buyer
- Review the Agreement of Purchase and all other legal documents
- Ensure there are no claims listed against the property
- Arrange for Title Insurance
- Ensure you have a valid title upon closing
- Ensure property taxes are up to date
- Calculate the land transfer tax due on closing
- Draw up the mortgage documents
- Close the transaction and ensure all legal and financial conditions are met
- Exchange legal documents and keys with the seller’s lawyer
Role of a real estate lawyer as a seller
- Review the Agreement of Sale and other legal documents before you sign
- Assist you with the negotiation of the terms and conditions
- Prepare the deed to your house
- Deal and remedy title issues as they occur
- Close the transaction
- Ensure all legal and financial conditions have been met
- Exchange legal documents and keys with the Buyer’s lawyer
Now that you have a better understanding of the job of a Real Estate Lawyer, it’s time to choose one that will best represent you throughout the transaction. Choosing a Real Estate Lawyer is something your RE/MAX Agent can help you with, as they often work closely with trusted professionals. You can also view our post on finding a real estate lawyer for more tips.