The mortgage closing process can be complex, which is why it may be in your best interest to hire a mortgage closing lawyer in Toronto. While your lender or mortgage broker should be able to offer you sound advice, a real estate lawyer can advise you on all the legalities involved in the closing process.
All posts by John Zinati
John Zinati is a veteran experienced real estate lawyer and partner at Zinati Kay Barristers & Solicitors. He holds a Bachelor of Arts from the University of Toronto and a Bachelor of Laws from Osgoode Hall Law School.- He has over 25 years of experience without a title claim and has closed over 25,000 real estate transactions with not a single title claim.
- He regularly publishes a newsletter, Title Tips, educating buyers, sellers, borrowers, real estate agents, and mortgage brokers on current issues in closing real estate transactions.
- He regularly speaks at real estate offices and has also advised on real estate matters on CTV, CBC, and CFRB.
- He is also on the Advisory Council at one of Canada's leading title insurers, First Canadian Title.
- He has achieved Title Insurance Certificates of Excellence in 2018, 2019, 2020, and 2021.
- He was recommended as one of the Top 3 Real Estate Lawyers in Toronto consecutively in 2019, 2020, 2021, and 2022.
- He has expertise in selling and buying homes, mortgage refinancing, title insurance, signing documents, assignments, condo/home review services, zoning violations, agreement of purchase and sale contracts, family transfers, title searching, and closing.
Why Is It Important for a Home Buyer to Hire a Real Estate Lawyer?
Buying a home is a momentous occasion, especially for first-time homebuyers! Before you get caught up in the excitement, hire a home-buying lawyer in Scarborough to help you navigate through the legal documentation.
Through no fault of their own, many homebuyers have lost thousands of dollars due to discrepancies in the Agreement of Purchase and Sale or through fraudulent means. To prevent buyer’s remorse or legal actions, consider hiring a real estate lawyer with experience in protecting the buyer during real estate transactions.
Why Is It Important to Conduct a Proper Title Search on a Property?
Hiring a title search lawyer in Toronto when you purchase a property can protect your biggest investment and may also prevent legalities. Aside from ensuring the seller has a legal claim to the property, a title search can provide a wealth of knowledge for the buyer before closing on the sale.
A title search may be ordered by a real estate agency, financial lending institutions, insurance companies, land surveyors, appraisers, municipalities, private investigators, and paralegals. Reviewing all documentation of a property provides the buyer peace of mind knowing that there will not be any issue from a third party.
John Zinati Highlights Issues Related to the Current Real Estate Market Slowdown
As a leading real estate lawyer in Toronto, John Zinati has been closely watching the housing market. The latest numbers across the country show that home sales dropped 32% in September in comparison to last year.
Why the huge difference? Low mortgage rates, a drop in new construction, a surge in first-time homeowners, and a desire for relocation saw the housing market at an all-time high a couple of years ago. Today, there are several factors that have caused a sudden shift in all of these market influencers.
Why Hire Both a Real Estate Lawyer and a Real Estate Agent?
Buying or selling a home or property can be a complex transaction between two parties with legalities requiring proper documentation. In that case, should you hire a real estate agent or a real estate lawyer? Which one is better?
You actually need both. The roles of the real estate lawyer vs. a real estate agent are very different when it comes to their responsibilities. Buyers and sellers require someone familiar with the local properties as well as someone who can help protect their investment.
That’s why understanding the difference between a real estate lawyer and a real estate agent can help make your real estate transaction as seamless as possible.
9 Key Factors to Consider When Choosing a Real Estate Lawyer in Scarborough
Whether you are buying or selling your home, it’s important to ensure you have a reputable real estate lawyer in Scarborough to assist you in the sale. Real estate transactions can be overwhelming and complex with legal documentation, checklists, communications, and most importantly, exchanges of monies. Ensuring the right person is in control of the legal responsibilities can help the buying or selling process be less stressful.
Before choosing a real estate lawyer to facilitate one of the largest investments you will make, consider the following tips.
What Are the Traits of the Best Real Estate Lawyers in Toronto?
Buying a home is considered one of the largest investments you can make in your lifetime. That’s why hiring the best real estate lawyer in Toronto is the first step in realizing your dreams of owning a house.
A real estate lawyer specializes in reviewing legal documentation pertaining to the buying and closing processes of property.
The Agreement of Purchase and Sale is a complex document that protects both the buyer and the seller. Having a real estate lawyer assist in drafting the legal documentation can save you potential heartache and thousands of dollars down the line.
Real estate lawyers also investigate if there are any unknown claims against the property.
Below, we have compiled a list of some of the must-have traits to look for when hiring the best real estate lawyer in Toronto.
7 Points to Consider when Buying a Property in Toronto
If you are considering investing in real estate, talk to a home buying lawyer in Toronto first. Don’t let this exciting time become overwhelming. Instead, keep these tips in mind.
Beware of These Points While Doing a Title Transfer
A title transfer is a legal document that represents ownership of a property and/or structure when the real estate at stake is to become under new ownership. It is a common process with any sale of a house or property that is declared once the Agreement of Purchase and Sale has been signed and monies have exchanged hands.
What Role Does a Real Estate Lawyer Play During a Home Sale?
If the time has come to hire a real estate lawyer when selling your house, understanding the role your lawyer plays in the process can help make for a smoother transaction.
A real estate lawyer specializes in the buying and selling of a house or property. From the initial Purchase Agreement to the closing date, both the buyer and seller need to follow certain legal stipulations to ensure their financial and physical assets are protected. Here’s how a real estate lawyer can help you:
5 Important Things to Consider if Things Don’t Go According to the Real Estate Agreement
Buyers and sellers beware! With the complexity of the housing market, hiring the best real estate lawyer in Toronto may be in your best interest! Challenges can arise during a real estate transaction, and the only way to protect yourself and your investment is by having an iron-clad Agreement of Purchase and Sale.
7 Interesting Facts to Know about Property Titles
A title transfer refers to legal changes to the ownership of a property. This can entail the sale of a property or adding or removing the name and rights of interested parties. The property title protects the owner from potential land scams or issues at the time of a sale.
Changes to titles require proper identification documentation, banking confirmation, insurance, and other legal paperwork. The important things to know about title ownership are outlined in this article.
5 Tips to Help You Sell Your House Faster in a Buyer’s Market in Toronto
Selling your house? There’s been a lot of changes in the Toronto housing market recently. Rising mortgage rates may be playing a part in turning the once hot seller’s market into a buyer’s market. This means the demand for houses has decreased and there are more sellers now than there are buyers.
What does this mean for you? Well, the basics for how to sell your home haven’t changed, just the prospects have. Even in a buyer’s market, you can still sell your home fast…you just need the right tools.
Read our tips below to help you prepare your house and your mindset before entering the buyer’s market.
Tips for Home Sellers in a Buyer’s Market
As most areas in Ontario are on a real estate rollercoaster, particularly the GTA, it is important to understand the process of selling a home in a buyer’s market.
A buyer’s market refers to when there are more homes for sale than there are interested parties to buy. With this situation of supply being greater than demand, the market can see prices drop in favour of the buyer.
Keep reading to see how being a seller in a buyer’s market doesn’t have to be as concerning as it may appear.
We also highly recommend that you contact a reputable real estate lawyer for mortgage refinance advice!
6 Reasons Why Your Mortgage Refinance Might Get Denied
Denied! It’s one of the words in the English language that can easily launch emotions of sadness, anger, embarrassment, and hopelessness in a split second.
But being denied for a mortgage refinance loan is not the end of the world, although it may feel like it is. Underwriters of financial institutions follow specific guidelines and regulations when deciding on a mortgage refinance application.
While the reason behind the decision may be obvious, there may be unknown issues that can continue to keep you from being successful. Below, we will look at the top 6 reasons why a mortgage refinance application might be denied.
We also highly recommend that you contact a reputable real estate lawyer for mortgage refinance advice!
4 Common Problems That Could Occur During a Real Estate Transaction
With all the excitement of purchasing a home, it’s easy to overlook some of the important details within the transaction. That’s why a residential real estate lawyer in Toronto should be consulted when drafting the Agreement of Purchase and Sale. As it becomes a legally binding document once both parties have signed, it is crucial to ensure the details are clear and concise.
In addition, a real estate lawyer in Toronto can help you decipher the legal implications of when a real estate transaction goes wrong.
Below, we will now look at four common problems to be aware of with a real estate transaction.
Why Do You Need a Real Estate Lawyer to Review the Purchase Agreement?
Protecting your legal rights when purchasing a home begins with an Agreement of Purchase and Sale.
The Agreement of Purchase and Sale is a written legal document between the buyer and the seller of a property. It is established to protect the rights of both parties. It contains details such as the offer and closing dates, legal names of both parties, offer price and deposit amount, chattels and fixtures, and other conditions relating to the sale of the property.
How Can a Real Estate Lawyer Help Protect Your Investment?
The real estate market can be tricky to negotiate, even for the most veteran property seekers. A real estate lawyer in Toronto should be your first call, particularly when it comes to prepayment for a pre-constructed home.
Recently, John Zinati was featured in a CBC News article focused on two failed townhouse projects that are predicted to cost the homebuyers close to $150K in unprotected deposits. In the article, John warns potential homebuyers to protect their investment by following a few key guidelines. Below, we go over some of his tips.
New Home Contract – 2022
Hi,
I hope you are well.
As of May 17, 2022,all Assignments will be subject to HST and extra care is required when drafting Assignment Agreements.I am pleased to enclose our latest issue of Title Tips which goes over what you need to know about this. I hope you find this helpful. If so, I would ask that you forward this to other Agents and Brokers or anyone who you think may find it of interest. Thank you!
Types of Real Estate Fraud in Toronto and How to Prevent Them
Real estate fraud in Canada is on the rise, particularly with mortgage payments being deferred in recent years due to the economy. Real estate lawyers in Toronto have been helping Canadians deal with the surge of fraudsters now more than ever.
