Real Estate Lawyer
Choose BK Law as your Real Estate Lawyer for your next real estate sale and purchase in Mississauga, Milton and Brampton. We guide you through the process and set customized fee structure to suit your requirement as our objective is to protect your interest and provide you complete peace of mind.
As a professional Real Estate lawyer, we provide legal services concerning Real Estate in the following areas:
Residential home sale & purchase
Purchase of new home
Review of new homes and resale homes agreement of purchase and sale
Condominium sale & purchase
Review of condominium status certificate
Commercial real estate sale & purchase
Leasing of residential & commercial real estate properties
Drafting agreement of commercial, retail and office space
Reviewing commercial lease agreement on behalf of landlords and tenants
Agreement of Purchase and Sale:
The Agreement of Purchase and Sale is the basic document upon which a real estate contract is based upon. The elements of a binding contract among others are also found in the Agreement of Purchase and Sale, namely, an offer, acceptance and consideration. An offer is made by the buyer, accepted by the seller and like any other contract; consideration is made and given by the buyer to the seller. A real estate Agreement of Purchase and Sale must be in writing only. The basic attributes, among others, of the Agreement of Purchase and Sale are:
Name of the Buyer
Name of the Seller
Description of the Property
Price of the Property
Consideration of the offer or the initial deposit
Date of completion of the transaction
Title search and any waiver of conditions
The Agreement of Purchase and Sale in its entirety including any attached Schedules, amendments and waiver would be reviewed and any discrepancy would be immediately brought to the notice of the client.
Communicate with opposite Real Estate lawyer:
Once the client retains us to complete the real estate transaction, we will get in touch with the opposite lawyer and start communication with him/her, from the beginning to the end of the transaction.
We will conduct searches on the property within the time period specified in the Agreement of Purchase and Sale. The OREA form provides two time periods for searches. The first search i.e., Title Search allows the examination of title to the property and to further examine that the title is good and free from all restrictions.
The second searches are essentially non- title searches. This search is done with the municipality for outstanding work orders or deficiency notices against the property. It is also done to determine if the use of the property as set out lawfully continues. Writ Searches are conducted to examine if there are any executions pending with the Sheriff against the seller or the current owner. If any writs or executions are found, we will take immediate steps necessary for the transaction in question.
Title Insurance assures good title of the property to the purchasers. Under a title insurance policy, a property owner has a direct claim against an insurance company if a specified title risk causes a loss, irrespective of the source of the loss. Before agreeing to provide coverage for a specific property, title insurers will investigate the title of the property and evaluate the degree of risk. Title insurers will exclude the items that are not revealed by public records.
Title Insurance Companies are Title Plus, The Chicago Title, The First Canadian Title and The Steward Title Company.
We, as your real estate lawyer, will coordinate with one of the Title Insurance Company on behalf of the client in order to obtain the title insurance policy.
The preparation of closing the real estate transaction begins when Agreement of Purchase and Sale is forwarded to us and we are retained for the same.
If you are the buyer, we, Real Estate Lawyer, will conduct searches, make other enquiries in respect of the property and submit requisition within the time prescribed in the Agreement of Purchase and Sale. The client will provide us with his/her mortgage and lending institution information well in advance. Once this information is received we will seek instructions from the lending institution with respect to mortgage, prepare the charge and register the same on title. The real estate transaction will amount to completion on registration of transfer and charge.
For seller, we will provide all legal services relating to answering requisitions and preparing necessary sale documents along with discharging the current mortgage, if any.