Step 6 to Buying a Home: Pick a Real Estate Lawyer​

Now that we’re starting to look at homes for you, it’s important to pick a Real Estate Lawyer to help with the transaction. While it’s not mandatory in Ontario, almost everyone – about 99% of buyers and sellers – has a lawyer. You don’t want to be the only one without one if the sellers have one!

Even if you’re thinking you might not need a lawyer, we highly recommend it. The best transactions are smooth and problem-free. However, it’s common for at least one issue to pop up, and some can be quite complex. That’s why having a good real estate lawyer is so important. It’s like having an insurance policy in case anything goes wrong.

Also, make sure to hire a REAL ESTATE LAWYER, not Uncle Bob who practices family law. No offense to Uncle Bob, but real estate law in Ontario is very specific. It’s best to have someone who knows the ropes and can ensure everything goes smoothly.

So, what does the lawyer do? The lawyer:

1. 1. Reviews the Agreement of Purchase and Sale and negotiates any changes with the seller’s lawyer.
   2. Assists with the negotiation of any issues that arise during the home inspection.
   3. Helps you understand the contract and ensures your interests are protected.
   4. Advises you on how to take title to the property.
   5. Ensures the title is clear of any encumbrances or liens.
   6. Files extension requests for the inspection period, lawyer review, financing, etc., as needed.
   7. Works with your lender to ensure a timely mortgage approval.
   8. Closely reviews the Statement of Adjustments, including any property taxes owed, adjustments, closing cost credits, etc., prior to closing.
   9. Prepares all necessary legal documents for the transaction.
   10. Coordinates the closing date.
   11. Conducts the closing at a title company or their office, and explains all of the documents to you as you sign them.
   12. Ensures title insurance is in order to protect your investment.
   13. Reviews condo documents and advise if there’s litigation, lawsuits and changes to the financial that need to be address, restrictions, repairs that were not approved by the condo board, special assessments, condo fee adjustments and other things that will prevent your enjoyment of the new property should you go ahead and purchase it.

The above list is if everything goes perfectly. If it doesn’t, and the contract needs to be cancelled or deposits need to be refunded, the lawyer will handle these items as well. This is why it’s crucial to have a good real estate lawyer as part of your team.