ETOBICOKE REAL ESTATE LAWYER
A Real Estate Lawyer in Etobicoke You can trust
As your Etobicoke Real Estate Lawyer, we take pride in our leading residential and commercial real estate legal services, serving clients throughout the Greater Toronto Area (GTA). With 40 years of experience in providing quality service to our community, we have a very high number of success cases under our belt.
We provide personalized legal services, as our lawyers will cater to your precise needs every step of the transaction. Like most high-stake financial transactions, real estate carries risk and legal complexities. This requires a carefully thought-out legal strategy to preserve the value of the property and close transactions in the most effective and smooth way possible. You can be sure of our legal team at Pace Law handholding you through the entire transaction process, as they execute the most effective legal strategy for your case. We have built a strong reputation over the years for keeping our clients’ best interest in mind. You can trust our lawyers to deliver value to you in the most efficient, cost effective and professional manner.
The Advantage of A Real Estate Lawyer
Engaging a real estate lawyer right at the beginning of your property transaction can be very advantageous, whether you are a home buyer or a realtor. It adds security to the deal, ensuring the safety of your capital and peace of mind. Lawyers work hand in hand with realtors, developers, brokers and mortgage lenders to negotiate on your behalf, review and draft contracts and ensure the paperwork is in order and filed correctly.
There are several agreements involved in a real estate transaction from loan agreements and tax returns to land surveys, appraisals, and inspection documents. A legal team also provides sound legal advice on title transfers and title insurance. Proper due diligence of all the contracts and careful review of the documents at various stages can make a big difference to how successfully the deal is executed. Partnering with a lawyer can ensure each document is carefully reviewed and each step in the transaction is assessed from a legal standpoint. Further, if a transaction fails, a real estate lawyer Etobicoke can also handle litigation, provide legal representation in court and file appeals, as needed.
Thus, in a real estate market that is more competitive than ever, a competent real estate lawyer can be an important partner and knowledgeable guide to help you through any sort of property transactions.
Buying or Selling Real Estate in Etobicoke
Buying a property in a competitive market like Etobicoke or across the entire GTA can be a complex process. Not only is it expensive, but a decision involving heavy documentation, due diligence, and a complicated review process. Property acquisition includes appraisals, inspections, negotiations, title insurance or even foreclosure documentation depending on the case. Further, there could be additional hidden costs involved when buying a property. This makes it essential to engage a real estate lawyer as soon as possible so the review process, negotiations and documentation can be completed before the requisition and closing dates.
When offering your property on sale, the financial transactions entail close coordination among all parties involved, especially with large funds moving between parties. Lawyers play a big role in ensuring that the financial contractual obligations are met on time.
Why You Need an Experienced Real Estate Lawyer
Real estate transactions entail heavy documentation and contractual work. The language used in these agreements can be difficult to understand and having a lawyer by your side can simplify the overwhelming documentational process. In property transactions involving high financial stakes, fully comprehending the several legal obligations become extremely important. Further, conducting due diligence and review, and checking the authenticity of the contracts and paperwork can have a significant effect on the success of the deal. Complex transactions can include negotiations of the terms and conditions, legal representation, managing property transfers, complicated tax work and other risk management techniques. Having an experienced Real Estate Lawyer Etobicoke can make good business to protect your interests in such financial transactions.
Refinancing Real Estate Property In Etobicoke
There are several reasons why one might consider refinancing their real estate property. These include taking advantage of a lower interest rate to consolidate debt or to access capital for home renovations, investments, etc.
Knowing the rules for proper refinancing of the mortgage and understanding which option would be the best for you becomes important in this situation. Engaging a real estate lawyer can benefit you here. Further, advice from a legal standpoint becomes even more crucial when considering a reverse mortgage. Pace Law, with 40 years of experience in the field, is here to help you navigate this process as smoothly as possible.
Conduct your Real Estate transactions anywhere, at anytime
With the Covid-19 pandemic, remote work has become the norm. The safety and convenience of our clients is of utmost importance to us. We have made the necessary arrangement on our end that allows us to offer all our legal services remotely, such that you are able to successfully conduct and complete your real estate transactions from anywhere, at anytime. The Law Society of Ontario approves the remote closing of real estate transactions.
With modern technology, we can conduct all legal consultations, draft and review legal documents and liaise with all parties involved, electronically. The entire online process is completed seamlessly while keeping all the client data secure and confidential. Get on a video conference call with Pace Law Real Estate Lawyers now to get started!
Will And Estate Planning in Etobicoke
Sound estate planning is essential to ensure that our clients’ beneficiaries and assets are protected in the event of death or temporary/permanent incapacity. Pace Law Real Estate brings you 40 years of experience in dealing with long term estate planning as well as ongoing family-related concerns. As one of the premier lawyers in the area of Will and Estate Planning in Etobicoke, our expertise goes beyond the preparation of wills and powers of attorney. We will handle the creation of trusts, personal contracts, succession planning of independent businesses, and advise clients on all aspects of estate tax and probate. With our approach to provide individualized and professional service to our clients, we ensure your estate-planning endeavors are successfully met.
Protecting Your Property with Purchase And Sale Agreements
An Agreement of Purchase and Sale is the most important document in a real estate transaction. In Ontario, the process starts with an Offer to Purchase, to be accepted by the seller. This offer, once signed by both parties, becomes the Agreement of Purchase and Sale and is a legally binding contract. Pace Law Real Estate can help you understand the contents of the agreement, advise you on the legal implications of the clauses, and negotiate the terms and conditions on your behalf. We will carefully review the agreements involved and examine the contents with the ultimate goal of executing the transaction successfully. We are driven by our mission to protect our clients’ interests with regards to the property in question, or any other matter.
Buying your first home can be stressful. The Government of Canada assists first time homebuyers through the First Time Homebuyer Incentive (FTHB). The federal government finances part of your first home by loaning a certain amount based on the purchase price and property type. For buyers who qualify, the program offers 5% of the price of the resale home, or 5-10% of the price of a newly constructed home towards a down payment. The program helps you have a higher down payment, which lowers the monthly mortgage payments, making it easier to buy a home.
The incentive amount is an interest-free loan to be paid back within 25 years of the borrowing date or when the home is sold, whichever comes first. The FTHB is a shared equity mortgage, which means the upside and downside of the property value is shared with the government.
Buying a property in Etobicoke or across Canada is an expensive decision. There is a lot of money on the line as you consider short term and long-term costs, appreciation rate, taxes, etc. With all the legal jargon involved, a real estate lawyer can review contracts, insert contingencies as needed and ensure the paperwork is in order. Specifically, a real estate attorney can handle title searches, title insurance, negotiate on your behalf and generally ensure that all terms and conditions in the contracts protect your interest. With a real estate lawyer, you will have the peace of mind needed to close the transaction successfully.
Hiring a home inspector will allow a homebuyer to learn about major and minor defects with a home before buying it. These inspections can uncover problems which can later turn out to be safety hazards or very expensive to deal with, from mold to life threatening fire hazards. They even reveal illegal installations done without permits. All this critical information collected will give you an idea of costs involved in repairs and maintenance. This visual examination helps you better decide if you would like to go ahead with the purchase.
This depends on several factors – the current market conditions, your financial position, moving timelines and other factors based on your unique situation. If your financial position allows it, then buying a new house first is more convenient and makes more sense in a sellers’ market. This way you also avoid a rushed home purchase and not have to worry about sequencing the sale and purchase closely. In this situation, other sources of funding can be tapped such as bridge financing. A real estate lawyer can guide you through the risks involved in the entire financial transaction.
Selling a property first, on the other hand allows you to access your current home equity and reduces the pressure of two mortgage payments. Here too, a lawyer can help add a home-sale contingency in your contract with the buyer which will ensure that you don’t have to buy till your current property is sold.
Yes, a non-resident Canadian can buy and sell property in Canada. A non-resident Canadian can even put their property on rent and earn rental income, just like a regular Canadian resident. However, this also brings up its share of complications around renting, owning and maintenance of properties. Contact Pace Law Real Estate lawyers today to learn more.