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Typically, your lawyer gets involved after you have signed the agreement of Purchase and Sale. My office sends copies of all documents to both parties lawyers.
If you are the Buyer, here’s a brief overview of the key tasks Your Lawyer will undertake:
- Reviews the Agreement of Purchase and Sale
- Prepares the necessary closing documents including mortgage documents
- Obtains a search of title
- Obtains title insurance, if applicable
- Contacts you re: any document issues or additional information questions
- Notifies municipal taxes, water, hydro and gas of change of ownership and verifies there are no arrears
- Contacts you 4 or 5 days before closing to confirm the amounts required for Land Transfer Tax, registration of your Deed and Mortgage, the Balance due to close, and lawyers fees and disbursements
- Meets with you for final signatures usually 1 or 2 days before you close
- Obtains the keys to your new home for pickup by you on the day of closing
- Prepares a final report letter which will be given to you, usually at the final appointment.
If you are the Seller, Your Lawyer completes this somewhat different set of tasks:
- Reviews Agreement of Purchase and Sale
- Reviews all documents which you are required to sign by the buyers' lawyer
- Prepares the usual documents for closing of the transaction
- Contacts you re: any document issues or additional information questions
- Obtains figures of any outstanding amounts on any mortgage(s) and arranges for payment of these from sale proceeds
- Payment of real estate commission fees from sale proceeds
- Payment of legal fees and disbursements from sale proceeds
- Contacts you 3 to 4 days before the closing date to arrange for an appointment to review your file and sign documents
- Meets with you 1 to 2 days before closing for final signatures and to obtain a set of keys to transfer on closing to the buyer’s lawyer, and review procedures for leaving in your home extra keys, warranties, manuals etc. for the new owners
- Deposits the Balance of sale proceeds to your bank account
- A final report letter will be given to you, usually at the final appointment.
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Oakville Lawyers
Paul Davidson 223 Robinson Street Oakville ON L6J4Z5 905 842-8600
Leslie Smith 1276 Cornwall Road Oakville ON L6J7W5 905 845-0767 www.lesliejsmithlaw.com
Virginia Tinti 303 Robinson Street Oakville ON L6J 1G7 905 815-1717 vtinti@cogeco.ca
Michael Vokes 233 Robinson Street Oakville ON L6J 4Z5 905 842-8600
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