Legal Needs in Real Estate
Purchasing a home involves a lot of paperwork, most of which are contractual documents that will legally bind you to the numerous terms and conditions. For this reason it is important to have a good lawyer or notary public acting for you; someone to protect your rights and interests.
Finding a Lawyer/Notary Public
If you don’t have a lawyer or notary public, you can look for a referral from friends, family or business acquaintances. Look for someone with real estate experience and discuss with them their fee scales. Your RE/MAX Sales Associate can help you locate a reliable professional with whom you feel comfortable working.
Lawyer’s/Notary Public’s Function
You will need a lawyer or notary public to process your purchase and ensure the terms are met:
- the correct property is purchased
- transfer title to your name(s)
- ensure title is free and clear of prior owners encumbrances
- your mortgage is registered properly on title
The legal process varies from province to province within Canada. Specifically, you will need to consult with your chosen legal professional and he/she will explain the process and the steps that need to be completed before you get the keys to your new home.
Your lawyer/notary public will prepare a “Statement of Adjustments” outlining all the financial aspects of your sale.
Legal Fees and Disbursements
The difference between legal fees and disbursements is analogous to the parts and labour you pay when fixing your car. Your RE/MAX Sales Associate can help you locate a reliable professional with whom you feel comfortable working.