When you start shopping for your dream home, don’t feel you are alone. Besides the internet, you should have a team of professionals, ready to help and guide you to the best purchase and financing available. Part of that team is an Ottawa Real Estate Lawyer. If you are wondering what that person does, read on.
When you are the buyer in a real estate transaction, the attorney will:
Document review – When the initial purchase agreement is submitted, your attorney will review it and any other documents to be sure your rights are protected and the document correctly reflects what you have orally agreed to.
Claims – He or she will review the records to be sure there are no other claims or liens on the property.
Title – Make sure the title is accurate and valid and arrange for the title insurance.
Taxes – See that all property taxes are paid up to date and calculate the land transfer tax.
Mortgage – Draft and revise any mortgage documents.
Closing – Make sure all the documents are properly executed and filed so that closing can be completed. He or she will also be sure the financial responsibilities are met or assigned and that the legal papers are sent to the other attorney.
When representing you as the seller, the lawyer will:
Negotiate – Be your representative during negotiations to be sure the terms and conditions are fair and favorable to you. Deal with any issues that may arise and be sure they are satisfactorily dealt with.
Documents – Review all the documents before you sign. Prepare the deed.
Closing – Be sure that the closing documents are accurate and all financial conditions have bee met. Transfer the keys and garage openers to the new owners.
As you can tell, the real estate attorney has some very serious responsibilities and is there to help you through what can be a stressful situation.