Real Estate Law /

Buying/Selling a property

Real Estate Law

We would be pleased to assist your purchase, sale or refinance of your home. Our team has handled many transactions in Kitchener, Waterloo, Cambridge and as well other areas in Ontario. We are experienced in all aspects of these transactions - from negotiating offers to closing complicated deals.

Our experience includes single family residences, condominium, duplexes, triplexes, apartment buildings, vacant lots, cottages, industrial and commercial properties, shopping centres, strip malls, office complexes and farms.

We have the latest technology, hardware and software and we offer title assurance. The recent introduction of electronic Land registrations in Ontario allows us to close transactions across the Province from our offices in a very cost effective way.

What you need to know when buying or selling or refinancing a home

Buying a Home: Buying a home is an exciting event. However, looking for a home and arranging financing can be time consuming, tiring and sometimes stressful. Once you find the perfect home, you need to seal the deal by entering into an agreement for purchase and sale. At this point you need to find a lawyer, many people have never needed the service of a lawyer before and choosing the right lawyer for you can be another time consuming and sometimes confusing task.

Choosing a Lawyer:

  1. The first thing that most people will consider when choosing a lawyer are the lawyers fees. Lawyer fees should not be confused with "closing costs", which may include not only legal fees, but also Land Trasfer Tax, Registration costs,the cost of Title Insurance or a survey, and various other costs such as couriers, postageand fax charges. Obviously, you will choose a lawyer with competitive rates. You may also want to ask for an estimate of all of the others costs that are associated with the closing of your transaction before making a decision.
  2. Personal service and attention is also something you may be concerned about when choosing a lawyer, particularly if you are a first time home buyer. You may have questions and concerns about he process of puchasing a home and you want to be sure that the lawyer you choose wil take the time to make sure everything is fully explained to you.

Selling a Home

If you are selling your home you most likely already have some experience with a real estate lawyer. If you are looking for a new lawyer, you will want to considerthe factors listed under heading buying a home.

Some lawyers may offere a discount if you retain their services to both sell your current home and purshase a new home. Be sure to enquire as to whether such a discount is offered prior to retaining the lawyer's services.

What do you need to know prior to signing the agreement of purcahse and sale?

Ideally, prior to entering into an agreement of purchase and sale you would have your solicitor review it to ensure that you understand the agreement and are completely aware of the particulars of the agreement. However, in most cases the agreement of purchase and sale is executed prior to it being reviewed by your lawyer.

The following are some basics that you should keep in mind when entering into an agreement:

Fixtures: are things such as shelves which are attached to the walls, ceiling fans, light fixtures, chandeliers, window covering insome circumstances, any other item that is attached to home. These items are inclused in the puchase of any home. If you are selling a home and you want to remove some fixtures and take it with you it must be specifically stated in the agreement. If you are a purchaser and you want to be sure that some fixtures will be included or removed it would be prudent to make sure it is written into the agreement. Verbal agreements cannot be enforced.

Chattels: are things such as fridges, stoves, washers, dryers, free standing shelves, window coverings, and any other items of personal property that are not attached to the home. These items are not included with the purchase of a home unless the agreement specifically includes then. If you are purchaseing a home and there is a chattel that you wish to be included you must ensure it is stated in the agreement. Verbal agreements cannot be enforced.

Financing: if you must obtain a mortagage to purchase a home you will want to be sure that the agreement a home you will want to be sure that the agreement is conditional on you obtaining satisfactory financing. DO NOT waive this condition until you have received written confirmation from your lender.

Home Inspection: if you are a purchases, you may wish the agreement to be conditional on you obtaining a satisfactory home inspection, particularly if you are purchasing a resale home that is more thatn a few years old. DO NOT waive this condition until you have received written confirmation of the completed home inspection report.

Special considerations for newly constructed homes

  1. Different time lines may apply with respect to extension of closing dates as a result of the vendors inability to complete construction on time.
  2. New homes are usually enrolled in the new home warranty program unlike resale homes.
  3. On final inspection the purchase should note any and all deficiencies in the construction of the property no matter how minor and any remaining work to be completed no matter how minor. The vendor must rectify any and all deficiencies noted on your certificate of completion within a specified period.

Land Transfer Tax

Land transfer tax is a tax imposed by the government and is collected each time the ownership of real property changes. There are circumstances in which you transfer of property may be exempt from Land Transfer Tax. This is a question for your solicitor.

Mortagages and Refinances

Sometimes homeowners may find that they need additional monies for debt consolidation, home renovations, vacations, vehicle purchases or other reasons and realize that refinancing the mortagage on there home may provide them wiht the assistance they require. A mortgage and/or refinance may provide for a lower interest rate then could be obtained with other types of financing.