When buyers want to purchase a home in Canada, as a Real Estate investment or for personal use, it is essential to have as many professionals on your side as possible. Hiring a lawyer is essential for ensuring that title is passed to the appropriate buyer or seller in your real estate transaction. Dealing with issues of title is the most complex part of any real estate transaction. By hiring a lawyer for your real estate transaction in Canada, you protect yourself from any legal issues that could arise in the future. If there is a defect in the title of your home, then your real estate lawyer may be liable for malpractice.
Researching Defects in the Home
A lawyer can bring immense knowledge of the field of real estate law to your purchasing process. He or she can research the home that the buyers are considering for purchase to make sure that it meets all code regulations. The lawyer can also work with the real estate agent to make sure that there are no hidden defects in a home that you want to buy. A hidden defect is an encumbrance on the legal title of a real property that is not actually visible to the public. This could include situations in which there are heirs to a real property at the time of buying a new home. A lawyer will uncover these hidden defects and will hold the seller accountable for any defects that are discovered in the research process.
Buying a Development Property
If you are buying a home in Richmond Hill, Canada that is located in a condominium association, then hiring a lawyer can be to your advantage. The lawyer will make you aware of any policies that the association has in place. The lawyer can also represent you in the event that your application is denied by a housing association for arbitrary reasons.
Buying a Foreclosed Home
A lawyer can also be of help when buyers are buying a foreclosed real property. The lawyer can negotiate a deal with the bank so that you do not have to pay certain liens on the home. The lawyer will also be able to uncover any liens that exist on the property and are not advertised by the bank. You do not want to buy a foreclosed home that you believe is a great deal only to find out that there is money owed on the foreclosed home.
The Real Estate Lawyer can ultimately review the contract for sale that is presented to you. There may be clauses contained within the contract that are not entirely clear. It is the lawyer's job to clear up any ambiguities that could exist in a contract. The lawyer will also make sure that the seller includes any promised items in the written contract. Perhaps the seller promised to include a set of dishes or certain furniture pieces along with the sale of the home. The home sale process can get complicated when the seller denies that he or she ever made this promise to a buyer. A Real Estate Lawyer can help hold the seller accountable for such verbal agreements and enforce any promises made by the seller.
Getting Repairs Done
Before the sale of a home is complete, a seller may promise to have certain appliances in the home repaired. Perhaps the seller promised to fix broken windows or doors in the home. These are promises that a Real Estate Lawyer will make sure are completed before the date of the sale of the home. You know that a lawyer will be able to help you if a seller is not fixing the parts of the property that he or she promised to fix. The lawyer can also ensure that no alterations are made to the property without the consent of the buyer. Perhaps a seller wants to take substantial pieces of the property with him or her into a new home. The lawyer can be sure that the property is sold to the buyer in the condition that he or she originally agreed to with the seller.
Hiring a Real Estate Lawyer is essential when you want to purchase a home in Richmond Hill, Canada. He or she can work with a real estate agent to get you the best deal on your new home.