Facilitating The Transaction

Lawyers are required to facilitate the purchase and sale of property in Ontario. Each party (buyer & seller) will have their own lawyer representing their interests.

The lawyer will assist in the following:

• Draft purchase & sale documents and register title for buyer
• Witness buyer & seller signatures on corresponding documentation
• Exchange funds from buyer to seller via bank/lender
• Ensures the buyer recieves "clean title"
• Arranges title insurance
• Protects your interests in case there is a breach by the other party
• Negotiates closing extensions and hold backs
• Provides guidance and advice throughout the transcation

Pre Construction & Status Certificates

Lawyers will also review pre construction agreements in the "10 day cooling period" to ensure the contract is in order and to see if there are any fees that can be capped, reduced, etc.

The lawyer also assists in reviewing condo status certificates for condo purchases. This document contains financial, legal, and information relavent to the potential real estate purchase. The status certificate review helps buyers determine if the condo has been properly maintained and managed over the years.