Category Archives: Selling Property

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.

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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.

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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:

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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.

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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!

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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.

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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. 

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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.

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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!

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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. 

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Actions to Take between Offer Acceptance and House Closing

Buying a new home is definitely an exciting venture. It’s a new chapter in your life that’s worth celebrating. Whether you’re moving to be closer to family and friends or to start a new job, the process of buying a home can be arduous and involves numerous logistical and clerical steps that need to be followed to make it official. If you’re moving out on your own for the first time or simply lack real estate experience, then you need to hire a house closing lawyer in Toronto who can help you navigate the ins and outs of the process. 

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When Is the Best Time to Sell Your Property in 2022?

Believe it or not, there is actually an ideal time of year to enter into the real estate market. Although things seem to be in a constant state of flux given the current housing market, there is an end in sight. Prospective home buyers and sellers will be able to breathe a sigh of relief hopefully in the coming months. If you’re wondering when the right time is to sell your home, then hang tight. In this article, you’ll find expert advice from an experienced real estate lawyer in Toronto. 

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5 Critical Challenges to the Ontario Real Estate Landscape in 2022

Throughout the pandemic—particularly during the past year—the Ontario housing market experienced a massive economic boom that tipped the scale in favour of sellers. This left a lot of buyers and renters in the dark. Financial experts and residential real estate lawyers in Toronto predict that the housing market will eventually balance itself out and the housing bubble will pop. But the situation will continue to get worse before it gets better. Here are some of the top challenges that even the best real estate lawyers in Toronto are currently facing along with possible solutions. 

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When Do You Need to Hire a Real Estate Lawyer?

Buying or selling real estate, whether it’s commercial or residential, is an important life-altering decision—one where you need expert advice to help guide you in the right direction.

It’s the reason many people choose to hire an experienced real estate agent to help them find what they’re looking for within their budget. It’s also the reason that many people hire a good real estate lawyer in Toronto to guarantee that you’re getting the absolute best deal possible on their property purchase or sale.

Given then current state of the housing market in Toronto and the GTA, hiring a qualified real estate closing lawyer in Toronto is the smart move before making such a big investment.

Here are few circumstances in which a real estate lawyer in downtown Toronto and the GTA is extremely useful.

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7 Real Estate Selling Myths Busted

Whether you’re a buyer or a seller, entering into a highly competitive real estate market can be challenging and daunting. The less experience you have with residential real estate, the more likely you are to believe some incredibly common, yet unsubstantiated pieces of misinformation about how the whole process works and what to expect.

Selling your home is a big deal! That’s why it’s important that you do your research and work with a reputable real estate lawyer in Toronto to ensure that you’re getting the full value that you deserve.

To help you get started on the research front, we’ve debunked seven of the most common myths regarding real estate in Toronto, the GTA, and beyond.

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An Interview with John Zinati on the Future of Home Buying

In March, our very own John Zinati, an expert real estate lawyer in Toronto, sat down with the CEO of Veritas Investment Research, Anthony Scilipoti, to discuss the current real estate market. As a real estate closing lawyer in Toronto with decades of experience, John is uniquely positioned to educate us on what the market is telling us right now.

The interview was part of the Veritas Fact-Finding series. Designed in the wake of the COVID-19 pandemic as a way to find the truth about investment opportunities and pitfalls, this series speaks with industry professionals on the ground to better understand how the pandemic will affect our life and our investments.

Here are some of the key points John and Anthony discussed.

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The Ultimate Checklist for Homebuyers before a House Closing in Toronto

When buying a home, it really pays to do your due diligence. Hundreds of thousands—if not millions—of dollars are on the line; it’s simply not worth rushing the process. As any top real estate closing lawyer in Toronto will tell you, there are several common oversights that buyers need to be mindful of when closing.

Whether this is your first home purchase or one of many, it always pays to make sure that the house and its major assets and installations (like appliances and piping) are in good-working order, so when you move in, you won’t be stuck with a huge surprise bill following your down payment. The time to check the condition of the houses before your lawyer turns over the money to the seller as this is the best time to try and get any matters addressed if you are able to under the terms of the agreement of purchase and sale.

As such, we’ve developed a comprehensive checklist to ensure that you’re fully ready to close on the house of your dreams.

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Tips for Buying and Selling a Home during COVID-19

It goes without saying that 2020 was a year unlike any we had collectively experienced before. From little things like keeping hand sanitizer in your bag to big things like buying and selling a home in a safe and responsible way, COVID-19 has certainly made us adapt to a new way of life.

With that said, we’ll explore some things to keep in mind whether you’re buying a home during COVID-19 or selling a home during COVID-19.

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3 Tips for Choosing the Right Closing Date

You’ve done the hard part: you’ve found a home you love and have made an offer. Congratulations! But the next step that people often overlook is extremely important: choosing the right closing date. As any good real estate lawyer that deals with house closings in Toronto will tell you, this date shouldn’t be selected at random.

While the seller may stipulate a closing date in the contract, let’s take a look at some helpful tips that will guide you in choosing the right closing date when the option is available.

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