The Importance of Hiring a Real Estate Lawyer for My Real Estate Transaction

photo of a real estate lawyer preparing legal documents for the purchase of a new home in Edmonton

Hiring a real estate lawyer is essential if you want to avoid mistakes and ensure a sound legal transaction when buying and selling property in Alberta.

Having a real estate lawyer who will work with you from the beginning is vital for several reasons, which can include any of the following factors:

  • Review of all legal documents:
    This can consist of the Agreement of Sale, Agreement of Purchase or Status Certificate
  • Checking of property taxes:
    A lawyer can make sure property taxes are current or otherwise determine any adjustments that need to be made
  • Examine the title:
    A lawyer can examine the title to see if any claims are listed against the property or otherwise ensure that you receive the title as per the purchase contract

Buying a home is usually one of the most significant financial purchases you’ll make in your lifetime. With the amount of money you’re spending, you want to do all you can to ensure that each decision and financial transaction is correct.

The best way to do this is by utilizing a real estate lawyer who is proficient in understanding and abiding by the rules and regulations associated with real estate transactions.

Real Estate Lawyers Are There to Protect Your Interests

When you’re involved in buying and selling property in Alberta, it’s in your best interest to use a professional legal representative.

Their experience and expertise with real estate transactions in Alberta can help you avoid mistakes and help ensure that you’re participating in a sound legal transaction. Participating in a sale or purchase of real estate property usually involves a large amount of paperwork. Missing a key element might be easy to do if you’re not used to working with this type of transaction regularly.

A lawyer’s role is to examine each document or use their legal expertise to handle specific situations. Having a legal representative you can count on to avoid mistakes should provide you with peace of mind and is almost mandatory if you want to safeguard yourself against getting hurt financially.

Be sure to call our office at (780) 760-7234 or use our Contact Us page when you’re in need of a first-class lawyer who handles these types of transactions efficiently and correctly.

How Much Does a Lawyer Charge for Closing Fees?

Keeping down the total cost of your closing fees can help provide money for several other items or bills, which is why it makes sense to do all you can to avoid paying any unnecessary expenses when selling or buying a home.

However, utilizing a legal professional who has knowledge and understanding of the legalities associated with real estate is well worth the time and associated costs.

The charge for closing fees will depend on the role you take in a transaction as well as its complexity.  Safi Law Group offers very affordable real estate legal fees. Additional legal costs may be incurred if a transaction also includes any of the following additions:

  • Removing or changing title registrations
  • Creating an encroachment agreement with a neighbour
  • Obtaining estoppel certificates when selling a condominium
  • Needing a new Real Property Report

Getting started with an experienced lawyer who can effectively assist you with your transaction can be done through our Contact Us page or by calling a friendly legal representative in our office at (780) 760-7234.

Are There Hidden Fees When Selling a House?

When you’re buying and selling property in Alberta, there are several costs involved, but you’ll usually end up paying more when selling a house.

Some of these costs are obvious and some may take you by surprise. It’s important to conduct a little research in advance so that you know what to expect. Some of the costs can include:

  • Legal fees for services
  • Real estate agent fees
  • Staging fees
  • Cleaning fees
  • Mortgage prepayment penalty
  • New Real Property Report (if you have made any relevant structural changes to the property)

If you’re selling property, you may be asked by a prospective homebuyer to make specific improvements before closing, which can cost you extra to do. If you choose not to make these types of changes, a potential buyer may decide not to go through with a purchase. It can help to add a little extra money into your budget for these types of additional improvement expenses.

When you want to make sure you’re getting involved with a sound legal transaction, contact us for assistance by calling (780) 760-7234 or utilizing our Contact Us page.