What does my Real Estate Lawyer do, Anyway?
You may wonder why you need to hire a lawyer when you buy, sell, or refinance a home. Your Calgary Real Estate Lawyer plays an important role in your real estate transaction. Some of the things your real estate lawyer does include:
- Reviewing the Land Title Certificate to ensure there are no non-permitted encumbrances registered against title
- Reviewing your Purchase Contract and any amendments thereto
- Reviewing a Real Property Report (RPR) survey of your property to ensure that all structures and improvements to the property comply with city land-use bylaws
- Negotiating a holdback or alternative closing date with the other party’s lawyer if there is an RPR or other legal issue that cannot be remedied prior to closing
- Advising you of your legal obligations to the other party to your real estate transaction
- Preparing your mortgage in accordance with your lender’s instructions and advising your lender of any amendments to the Purchase Contract
- Signing your mortgage and all other legal documents with you
- Registering your mortgage at the Alberta Land Titles Office
- Preparing and registering the Transfer of Land with the Alberta Land Titles Office
- If your purchase property is a condominium, obtaining and reviewing an Estoppel Certificate to ensure that the condo building has adequate insurance
- And many other steps, depending upon the nature of your transaction!
A Team Approach to Your Real Estate Transaction
While there are common elements, each real estate transaction is unique, and has a number of moving parts. For your transaction to go smoothly, we believe that a team approach is required. As your real estate lawyer, we work closely with you, your realtor, your mortgage broker/lender, and the other party’s lawyer to ensure that everyone is on the same page and that your deal closes as smoothly as possible.
Whether You’re a First Time Homebuyer or Seasoned Real Estate Investor, We’d Love to Work with You
Buying a home for the first time can be daunting. Often, it’s one of the most important decisions we ever make, as it determines where we’ll live, who our neighbours are, where our children will attend school, and how we’ll reach our long-term financial goals. At ZED Legal, we find satisfaction in helping our clients navigate any legal hiccups of their real estate transaction so that they can focus on enjoying their new home!
If you’re not a first-time homebuyer, we’d love to hear from you too. Perhaps you’re looking to add another rental property to your portfolio, or you’re selling your home to move on to something bigger and better. Maybe you’re not buying or selling at all, but it’s time to go with a different lender and get a better rate so that you can pay off your house more quickly.
Purchase, sale, refinance, transfer-of-land, second mortgage/private mortgage—we do it all!