While buying a home is exciting, it’s not something you should take lightly. It’s often best to consult a home buying lawyer in Toronto if you want to make sure your purchase is given its due diligence and there’s no costly oversights.
There are many, many good reasons to work with a closing lawyer in Toronto when you go to buy a home. Below, we’ll list the top nine reasons you should consider using a real estate closing lawyer in Toronto before you finalize the purchase of your new home.
There Are Real Estate Risks
Real estate purchases are definitionally large and complicated. As such, it pays to have a lawyer for house closing in Toronto by your side so you can avoid the potential pitfalls. Some risks include immediate, back-to-back sales of the property in order to inflate the price, or the seller potentially misrepresenting themselves and not owning the property before selling.
This Is Your First Time Buying or Selling
As with any formal agreement or contract, you don’t want to sign onto anything unless you have the agreement vetted by a trained professional. A house closing lawyer in Toronto will be able to comb through the contract and parse out the legal jargon, so you understand the entirety of the contract before signing. This is especially important for anyone who has not had experience in the real estate market previously.
It’s a Commercial Transaction
Commercial real estate transactions can be a lot more complicated than residential real estate deals…and oftentimes they cost a lot more. A home buying lawyer in Toronto would be able to examine the leases and purchase agreements to make sure that you understand all your obligations upon signing.
To Examine Documents
To reiterate, there are a lot of documents that require examination when you look to buy a home. And these are technical documents written in specific and often opaque legal language. A real estate closing lawyer in Toronto will have the expertise you need to make sense of every document that pertains to your purchase.
To Research & Investigate
During the purchase, there’s a lot of information you need to know about the property before you can confidently sign on.
A house closing lawyer in Toronto can check for:
- Liens on the property
- Title authenticity
- Past and present surveys
- Access, property boundaries, shore road allowances, and encroachment concerns
- Water and sewage requirements
- Property taxes and arrears
- And more
Experience
There’s no substitute for experience. An expert home buying lawyer in Toronto will be one who has seen it all and knows exactly what you ought to be wary of before signing. With their expertise, you can be confident that your purchase is solid and error-free.
Protection
A real estate closing lawyer in Toronto that you’ve hired to work for you does just that—work for you. They will be your representative and can negotiate on your behalf during the purchasing cycle. What’s more, they may even be more effective at negotiating due to their years of experience in the industry. They’ll also be there to support you through every step of the transaction, so you’ll never be surprised. The best way to ensure that your purchase is perfectly protected is to have an expert home buying lawyer in Toronto at your side.
Closing Time
No matter the type of purchase you make or whether it’s your first home or your fifth, a real estate lawyer by your side during closing can be a huge boon. The closing process is the most exciting part of the transaction but also potentially the most hectic; there’s a lot going on, in other words. You’ll have to juggle the mortgage, title insurance, deeds, and final inspection—a tall order to accomplish on your own. An experienced and steady lawyer by your side, however, can simplify the process, ensuring that your investment is secure.
You Need Guidance with a Purchase Agreement
Of all the many documents that you need to familiarize yourself with during a home purchase, there is perhaps none more important than the purchase agreement. Sometimes, an issue (or multiple issues) may occur during the purchase agreement that need to be analyzed and resolved before you can sign off on the deal. For instance, you need to ensure that all property changes were legally made, that the property is free from dangerous substances that could potentially be harmful to you or your family, what happens to your down payment if the closing falters, etc. A lawyer can be of invaluable help.
Get a Home Buying Lawyer in Toronto to Help You with Your Purchase
Buying a home is exciting. But it’s also no time to rush things or engage in the process without the proper support.
Zinati Kay – Real Estate Lawyers can be that support.
With over 50 years experience helping buyers and sellers in the Greater Toronto Area with all their real estate needs, we have the knowledge and expertise to help you through your purchase. We’ve completed over 21,000 successful transactions, so there’s almost nothing we haven’t encountered before.
With Zinati Kay – Real Estate Lawyers you’ll benefit from a full-service residential real estate law firm that provides fixed closing costs to our clients when they refinance, buy, sell, mortgage, or title transfer their property.
Work with a top home buying lawyer in Toronto, so you can rest easy knowing that you have access to the advice and counselling necessary to complete a home transaction without worry. If you want a professional real estate lawyer on your side, contact us at (416) 321-8766 for more information about our services.