PURCHASE

Buying a home is a one of the biggest purchases you will make and your real estate lawyer will be one of the most important people throughout the transaction. It is critical to choose a lawyer that understands that high quality service means protecting your interests at every stage. At G Law group we hold ourselves to a high standard and will make sure that we do all the necessary homework on your behalf to ensure that there are no future surprises related to your purchase. This is done by doing all the necessary searches to make sure that there are no encumbrances tied to your home such as: easements, covenants, liens, trusts, outstanding tax bills etc. Your interest is our interest and protecting your interest is our goal.

PURCHASE SERVICES OFFERED BY G LAW GROUP

  • Review of Sale and Purchase Agreement + Necessary Amendments
  • Preparation of all legal documents
  • Arranging Title Insurance
  • Condominium purchase – Review of Condominium Status Certificate

 

The Purchase Real Estate Process

  1. Review of Sale and Purchase Agreement

We will review your sale and purchase agreement and ensure that we explain the terms of your purchase to you in an easy to understand way. We will make sure you are aware of any important dates, the obligations created by the agreement and the expenses involved in your purchase, including land transfer tax* (for a land transfer tax calculator please visit our website www.glawgroup.ca ) .

  1. Property Title Review and Requisitions

We will do the necessary title searches to review title to the property you are buying. We will prepare a list of issues that need to be resolved by the seller, this is known as “requisitions”. We will make sure that any concerns about what is on title to the property you are buying (such as mortgages, liens or executions) are resolved before the closing date.

  1. Adjustments

We will do all the mathematics relating to your purchase regarding property taxes, condo fees (if applicable) and any other transitional charges and will balance out the purchase price to the date of closing, this is known as adjustments.

  1. Mortgage Title Insurance

We will communicate with your mortgage company and arrange to have the funds available on the day of your closing. We will also let you know of the balance of the funds that you may be required to provide and arrange a title insurance policy for you that will protect you against any hidden defects in title.

  1. Explaining the Legal Documents to You

Buying a home is a big commitment and it is important that you understand exactly what you are signing. Your lawyer will sit with you and explain the legal documents to you in an easy to understand and comprehensive manner.

  1. Day of Closing

We will attend to all the things that need to be done on the day of closing. We will provide the funds to the seller on your behalf. We will pay the land transfer tax to the Minister of Finance on your behalf and will have the keys to your new home delivered to you.

  1. Post-Closing Housekeeping

After the closing we will ensure that any existing mortgage has been discharged and will provide a full reporting letter to you within 30 days of the closing that will have all the pertinent legal documents related to your purchase.