In a real estate purchase, your lawyer performs many valuable services. The first way your lawyer can help is to discuss the transaction with you in advance, and to estimate for you all of the costs of the purchase. These costs include not only legal fees, but the Land Transfer Tax, a survey, and mortgage administration, as well as registration costs and disbursements. Many of these costs are not obvious, and yet they can add up to a substantial amount. If you are not fully aware of these until the time for closing, you can receive a very unpleasant surprise!

The next time your lawyer can help in your real estate purchase is when you are ready to put in an Offer to Purchase. 

Once you have an accepted Agreement of Purchase and Sale, your lawyer’s services really begin. The primary concern of your lawyer is to make sure that you get what you have bargained for. Your lawyer will ensure that the lovely home you are about to purchase neither is subject to someone else’s debts, nor is about to be sold for arrears of taxes, nor has the neighbors garage encroaching on your backyard, nor that the fences are not on the lot lines. It is the lawyer’s job to research the property and to make certain that when you later sell the home, you can do so without problems.

In addition, your lawyer will prepare documents — such as your mortgage and financial statements — and check the other lawyer’s documents — such as the deed — to ensure that all is correct and ready for your closing.

Before closing, your lawyer will meet with you to go over in detail the financial arrangements, and to tell you precisely how much money will be required. Only then will your lawyer have you sign the documents.

On the day of closing, your lawyer will go to the Registry Office with your money, the mortgage funds and the documents. The title search will be updated to ensure that no changes that affect your ownership have occurred since the first search. If all is well, the funds are exchanged for a deed and a key. When the documents are registered, the key is released to you and then your hard work starts, moving boxes and unpacking.

After the deal closes, your lawyer will prepare and send to you a full report, setting out all the financial and legal details and enclosing a copy of the deed and mortgage for your records. You will also receive a certificate of title, where the lawyer takes financial responsibility if certain problems arise in the future.

It sounds like a lot of work and it is. It is also very important work, to ensure that your happy home is undisturbed by legal troubles while you own it, and later when you sell it.