Real Estate

Real Estate Lawyers Toronto

Buying or selling property is a major investment for most people. Obtaining professional and experienced assistance from a real estate lawyer in Toronto is highly recommended to ensure all paperwork and documentation are completed accurately and correctly so there are no delays in the purchase or sale of the property. Our real estate lawyers in Toronto assist businesses and families with all types of property purchases. With over 50 years of combined experience and attention to detail, we are fully committed to our clients.

Services Available from Our Toronto Real Estate Lawyers

Our real estate lawyers in Toronto offer a wide range of services to fit with your requirements and needs, including Toronto commercial real estate lawyer services. Service options are able to be combined into customized packages to include everything you require for buying or selling a home or business, like:

  • Preparing Purchase and Sale Agreements for all types of Real Estate Transactions
  • Commercial and Residential Mortgage Refinancing
  • Sale and Purchase of Condominiums
  • Sale and Purchase of Commercial and Residential Properties
  • Preparing and Reviewing Commercial and Residential Leases
  • Securing Title Insurance for Existing and New Properties

Reasons to use a Real Estate Lawyer in Toronto

Whether you are buying or selling commercial or residential property, it is in your best interests to obtain help from a Toronto real estate lawyer. Your lawyer understands all of the current real estate laws and is there to ensure you do not overlook important clause or run into other problems or issues.

Preparing Your Sale or Purchase Offer: Our real estate lawyers in Toronto lend their expertise in reviewing standard forms used for sale and purchase offers through a real estate agent or can prepare your own agreements for private sales or in situations where you do not have your own realtor. During this process, your real estate lawyer Toronto verifies that the clauses, terms, and warranties are correctly inserted in the appropriate places, as well as reviewing the zoning of the property to confirm that there will be no issues during the closing process.

New Home Purchases: Many new home buyers are shocked to discover there are certain clauses in their builder’s buyer and seller agreement which allows builders to charge additional costs for numerous items, as well as delay closing dates without any compensation. When buying a brand new home from a builder, it is worth your time to have a residential real estate lawyer in Toronto review the contract. With the right representation it is possible to negotiate the contract with the builder and eliminate some of the additional charges.

Buying New Condominiums: The buying procedures for condominiums are slightly different from regular homes. There are two different closing dates and TARION rules which must be followed. Prospective buyers are even given a ten day cooling off period. It is recommended to obtain assistance from a Toronto residential real estate lawyer from the initial offer to purchase agreement to ensure the transaction proceeds on schedule and there are no surprises, like hidden costs. Even if you have your own realtor, it is in your best interests to have your documentation reviewed during the ten day cooling off period before proceeding with the closing.

Title and Other Searches: A title search is a required step in buying property. The search reviews details about the property, like any liens, judgments, prior and current ownership, and other outstanding agreements. In addition, outstanding taxes are checked and arrangements are made to have the utilities read and transferred on closing.

Determining When a Survey Is Necessary: Our real estate lawyers in Toronto will recommend if it is in your interests to order and obtain a property survey. A survey should be obtained any time there is not one on record or in situations where the survey is old. A survey shows if structures are fully situated on the property or if there encroachment issues. In certain cases, title insurance is an acceptable alternative to obtaining a survey. However, title insurance does not replace a survey.

Obtaining Title Insurance: Title insurance is an acceptable solution, to offset transaction costs for certain government clearance searches and, in some cases, as a substitute for obtaining a survey. Further, title insurance protects against other problems, like encroachment issues, so the property closing can proceed. Your residential real estate lawyer Toronto will explain the differences between title insurance and surveys in more detail to help you choose the most appropriate solution for your home purchase.

Document Preparation: From the initial sale or purchase agreement to responses from search inquiries, your residential or commercial real estate lawyer in Toronto carefully prepares and assembles all necessary documentation to proceed with the transaction and corresponds with the other party’s real estate lawyer to express any concerns, negotiate terms, and obtain specific legal documents prior to the closing date.

Mortgage Preparation: Our real estate lawyers in Toronto not only represent your interests, but also the interest of the bank funding the mortgage. Part of the mortgage preparation process is meeting with you to review the terms and conditions of the mortgage and verify that they are similar to the ones you previously discussed with the bank’s representatives.

Managing Closing Funds: A few days prior to your closing date, your Toronto real estate lawyer will meet with you to review and sign the closing documents. During this meeting, a review of the statement of adjustments is conducted to verify you understand what funds are required on the closing date, such as land transfer tax and a refund on prepaid property taxes. These funds are separate from the mortgage funds provided by your lender. All closing fees have to be paid by certified cheque or bank draft.

Closing on the Property: Instead of having to register the deed and mortgage in person at the local land registry office, the Toronto real estate lawyers at Weltman, Bernstein utilize modern technologies to electronically register and file all necessary forms with the land registry office. Our process allows our clients to take ownership and obtain their keys faster. After filing the registration documents, our office provides you with a detailed report, accounting statement, and all signed documents, including your mortgage and deed.