Barrie Real Estate Lawyers
Buying and selling property is very exciting but also can be a very stressful experience. Our Barrie Real Estate lawyers can help ease the stress of your transaction whether you are buying your matrimonial home, commercial property or vacation investment.
Real Estate lawyers at Devry Smith Frank LLP (“DSF”) have been practicing in Barrie for a very long time and have established a large clientele base consisting of second and third generation real estate clients including individuals, businesses and corporations. They have extensive experience with acquisitions and dispositions, applications for variances, encroachment agreements, Land Titles applications, plans of subdivisions, sales and purchase contracts and a wide variety of financing arrangements including private financing and institutional mortgages.
Seek Advice from an experienced Barrie Real Estate Lawyer
For the most part, provinces in Canada maintain exclusive jurisdiction over the land within their borders and not the Federal Government. As this is so, real estate property laws are unique in each province. The laws may involve different rules and regulations, follow distinct processes and raise special issues and problems for every transaction. That is why an experienced real estate lawyer is one of the most important professionals you will need to work with when buying, selling or refinancing your home.
The process of buying a home or vacation property is mostly an unfamiliar territory, particularly to first time buyers. There are many matters to consider, and buyers may not know exactly what questions to ask. Buying real estate property is a major investment so it is particularly important to be informed of the procedures to follow. Our lawyers are familiar with the documents that you need to deal with and have knowledge of the role that specialists or professionals have. Receiving advice from a real estate lawyer who specializes in the area where you wish to buy can make a monumental difference in helping you better understand legal questions specific to real estate transactions, such as:
- What do I need to know before signing an offer to purchase?
- Can I put several conditions on the offer to purchase?
- What is the difference between an easement versus an encroachment?
- What is a restrictive covenant?
- What is an encumbrance?
- What other fees or charges are associated with buying a house?
- What does an offer to purchase usually include?
- What options do my spouse and I have for registering ownership of our new home?
- What are dower rights?
- Do I need title insurance?
- What is a deed?
- What property disclosure can I except to receive as a buyer?
- What property disclosure do I have to make when I sell my property?
- What are the tax benefits when I buy a property?
- What are the tax consequences of selling a property?
- Is there a legal requirement to title insure my property?
Hiring the right lawyer, before buying, selling or refinancing, can help protect your legal rights as a buyer or seller and save you time, risk and, most importantly, money. A real estate lawyer can review all the documents ahead of time and catch issues that you might take at face value; protect your interest relating to financing matters that might otherwise cost you a good deal in the long term; help you decipher legal terminology that are common in property purchase agreements.
Consult a Barrie Real Estate Lawyer when buying property
When buying a home, it is normal practice for the buyer to obtain legal assistance to carry out necessary procedures to transfer the legal ownership. Among other things, a real estate lawyer will ensure the following is in place:
- Conduct a title search in the Land Title and Survey Authority Office registration system to verify that the seller has the sole legal right to the home and to check if there are any registered easements or restrictive covenants.
- Prepare the documents to transfer legal ownership from the seller to the buyer, including the Title Insurance and Property Transfer Tax return.
- Ensure the proper discharge of seller’s old mortgage, if stipulated in the lawyer’s
- Make sure that all financial obligations of the seller are settled.
- Coordinate the signing of the transfer documents.
- Draw up a Statement of Adjustments that will summarize all financial requirements that the buyer will need to complete to finalize the transaction.
- Facilitate all financial transactions on closing day.
- Ensure that buyer is registered as the owner in the Land Title and Survey Authority.
- Obtain documents for strata titled properties, such as the Information Certificate (Form B as prescribed in the Strata Property Act), Certificate of Payment (Form F as prescribed under the Strata Property Act) and the strata corporation’s Certificate of Insurance.
- Turnover the keys to the buyer.
Consult a Barrie Real Estate Lawyer when selling property when selling a home, a real estate lawyer will do the following:
- Conduct a title search on the home to make sure there are no legal impediments.
- Draft the deed of the home for the buyer.
- Calculate any closing costs that the seller will have to pay.
- Draft a Statement of Adjustments for the seller.
- Facilitate all financial transactions between the buyer.
- Hand over the cheque to the seller representing total sale amount leftover minus mortgage, real estate agent’s fees, legal fees, etc.
- Consult a Barrie Real Estate Lawyer when refinancing property.
When refinancing property, a real estate lawyer will do the following:
- Conduct a title search to make sure the property is clear of legal flaws.
- Register the new mortgage amount and facilitate all the financial transaction.
- Draft up a Trust Ledger Statement instead of a Statement of Adjustments if your transaction is with the bank.
- Review all documents and make certain that all conditions are in your favour.
Find a Barrie Real Estate Lawyer
Regardless of whether you are a first time home buyer or an experienced investor who is buying, selling or refinancing of property, our Barrie Real Estate lawyers can effectively help you with all of your transactions. We are experienced in residential, commercial and industrial planning and development, and in legal matters associated with construction, leasing, financing. The lawyers and support staff assigned to you will always respond to your questions in a timely fashion. Our clients know that we strongly believe in creating a healthy and beneficial relationships with our clients and they are always welcomed to contact us or simply visit our Barrie law office.
For more information regarding any of your Real Estate needs, please contact our Barrie Real Estate lawyers listed on the right on this page.