Purchasing a home is a big decision; it requires a huge transfer of funds, so making a mistake is completely out of the question. However, a real estate lawyer can ensure the property is transferred smoothly from the seller to the buyer.
Here are some ways a real estate lawyer can help you.
Reviewing Title Documents
A title document defines the legal ownership of an asset — the property you’re buying.
A real state lawyer reviews the title on your behalf to ensure there are no issues with it. They also check whether the seller can legally sell the property, ensuring that you’re buying from a credible seller.
Preparing a Sales and Purchase Agreement
A sales and purchase agreement is a legal document that makes it obligatory for the seller to sell the property and for the buyer to buy it. It ensures that the buyer’s and seller’s interests are protected legally.
A real estate lawyer will ensure that the terms and conditions of a sales and purchase agreement are valid and protect their client.
Mortgage Documents
A mortgage is a loan used to purchase a property by a buyer who can’t or doesn’t want to pay the entire price of the property upfront. A real estate lawyer can guide the buyer on the terms and conditions of the mortgage agreement and contact the lender on the buyer’s behalf. They specialize in handling mortgages and the paperwork associated with them.
Help with Other Processes
A real estate lawyer also handles any other filings, including solving problems that may arise in the property buying process.
Here are a few documents they undertake.
Handles Property Transfer
When the contract is ready, the property can be transferred. A real estate lawyer handles any complications arising from the property transfer and prepares the required documents to ensure a smooth transaction.
Help with Acquiring Insurance
Title insurance is necessary to transfer property,and a real estate lawyer can help with this. They carefully review the insurance documents to check for errors, go over tax issues, and keep you updated.
The Closing Process
Closing is the final step in the property buying process. At closing, the required documents are signed by both parties. A real estate lawyer helps the buyer understand the contract before signing and completing the process.
After the closing, the buyer holds the property’s ownership.
Hire Qualified Real Estate Lawyers
Nanda and Associate Lawyers are experienced and trusted real estate lawyers in Canada who keep their clients’ expectations in mind and provide tailored solutions to meet their legal needs.
Whether you’re buying or selling, real estate litigation lawyers at Nanda & Associates will provide you with the best legal solutions.
