SHOULD I SELL MY HOME OWN MY OWN?


SHOULD I SELL MY HOME OWN MY OWN?

Today, thanks to many websites people can opt to avoid realtors and sell their home on their own. There are advantages and disadvantages.

 

SAVING REALTOR FEES

You will of course be able to save money. Thus, allowing for more negotiation room between you and the other party.

 

LEGAL ISSUES

Here’s where things can get problematic. Most folks will be unsure of the legal implications or contractual issues that may arise in a standard purchase and sale. Its for this reason that you should consult with a real estate lawyer.

There are a number of standard clauses in a standard real estate deal. However, many will be unaware of such clauses.

Its important to have something drafted by a real estate lawyer that is specific to your needs.

If you don’t people will end up missing lots of the fine print.

 

DEPOSIT

How will you and the seller agree to a deposit? In the case of realtors the purchasers will deposit an agreed upon deposit into the trust account of the real estate brokerage. The realtor is legally required to hold the funds in good faith on the basis of the transaction. In the event the deal doesn’t close there are legal requirements for what to do with the deposit.

Without a realtor how will the parties determine what’s an appropriate deposit? How will the deposit be provided? When will it be provided? What happens if the deal doesn’t go through? For example, the purchaser provides a deposit. The seller puts it into their own personal bank account. Now the seller decides they want to back out, but don’t feel they should give the money back. What happens to the deposit? How will the seller get it back?

 

PRACTICAL ISSUES

While I hear many complaints from home buyers and sellers about their realtor’s lack of enthusiasm or participation. There are still very practical reasons to have a realtor. Unless, you have found a buyer on your own it can make sense to deal with the transaction on your own. Even then you must be aware of the issues I have identified above.

In most situations people will end up receiving inquiries based on their listing.

For example, someone who decide to sell their own home will hold an open house. In this situation it will be the actual owner you will meet. The actual owner might not be open to criticism about their home, or their listed price. It may also be awkward for purchasers to feel free when browsing the open home. As the home owner will likely be wandering around watching them.

Also, what about any representations or warranties the home owner may make intentionally or unintentionally during the process? It’s true that in many situations the homeowner may know more than a realtor. Such as, local grocery stores, schools, transportation etc., However, does the homeowner want to be held to those statements?

In the example of a realtor. A good real estate agent will provide feedback after a successful or unsuccessful open house. They will advise and strategize in terms of whether the listing price is adequate and also provide feedback from potential purchasers.

I firmly believe that the open house can be the biggest challenge when it comes to selling on your own.

IS THERE A REAL ESTATE LAWYER NEAR ME?

If you are buying a home or selling contact our office to speak with a real estate lawyer in Burlington.
I provide legal services in Burlington, Milton, Hamilton and Oakville.

My address is 901 Guelph Line, Burlington.
You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

Can I sue the purchaser for a real estate deal?


CAN I SUE THE PURCHASER FOR NOT BUYING MY HOUSE?

I have blogged about this topic before. Its normal in real estate closings for the purchasers financing to fall apart at the last minute.

WHAT RIGHTS DO I HAVE AS A SELLER IN A BOTCHED REAL ESTATE DEAL?

An Agreement of Purchase and Sale is nothing more than a contract. With various conditions.

If you break that contract the other party is entitled to seek remedies.

CAN I KEEP THE DEPOSIT?

In most situations if your agreement was conditional on you obtaining financing and you didn’t based on the date selected. You should be fine.

However, if you were only able to determine at the last minute that you were not able to secure financing. The sellers are entitled to keep your deposit and possibly sue.

WILL I WIN IF I SUE THE PURCHASER?

These are incredibly complex cases. While its true there is a breach of contract, this does not automatically entitle the seller to massive damages. Perhaps, it was a hot market and the seller could easily sell again. What if the seller ends up selling for a higher price second time around?

Then, there is the complexity of adequately quantifying damages. Why is the deposit not good enough?

For the most part in a real estate transaction both parties would like for the transaction to proceed. Also, did the purchasers conduct cause for any issue? Is the purchaser able to prove in good faith that they tried their best to secure financing and it just didn’t happen?

In most situations I advise clients to simply move on, unless they can adequately prove that but for this one deal, their entire life was ruined.

REAL ESTATE LAWYER NEAR ME

 

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

Avoid a Bidding War


AVOID A BIDDING WAR

As a real estate lawyer I often get calls from people who ended up making a haste decision during the bidding war process.

See my previous post entitled, Bad Real Estate deaabout what can happen if your real estate deal doesn’t close.

Sometimes during the bidding war process for a property people will end up waiving requirements such as home inspections or conditions related to financing. Neither of these are recommended. This can happen due to an intense market or pressure from your realtor or the other realtor.

Its important to step back and take a few minutes before you commit yourself to something you may not be able to.

NO PROPERTY IS REALLY WORTH IT

For the most part, the average individual is buying an average home. In other words, unless the property is very unique and classified as, “special’ per say don’t worry its likely you will find another. Rarely, do folks lose a bidding war and regret it for years to come.

DO YOU HAVE THE MONEY?

Prior to selling your home or buying you must assess your finances. More people end up wanting to move to a newer home thinking the market is hot and they can sell high. Or, they were wooed by a particular home.

Before, you even call a realtor assess your finances.

SET A FIRM BOTTOM LINE

Often people prior to purchasing will have an idea of a number in their mind. For example, let’s say $500,000 is your bottom line. However, during the negotiation or bidding war process. people will be thinking themselves, “well I think I can afford an extra $10,000 or $20,000.” If you can, then your bottom line wasn’t $500,000 but instead a different number. Each time you decide you can afford a bit more you place yourself and your funding jeopardy.

IF I LOSE THIS HOME THE VALUE OF OTHERS WILL ALSO RISE

True, that if the market is rising and you are continuously facing the prospects of inflated higher costs, it can become concerning. However, do you really want to buy a home that will leave you living hand to mouth? Is it worth it, just to have this home? Perhaps you may need to seek other options?

DON’T BE PRESSURED

Finally, don’t feel pressured. It doesn’t matter what anyone is saying, if you don’t feel comfortable have the courage to back off.

Remember, unless the property is very unique, so be it. For the most part, people walk into open houses, dreaming of what it would be like if they lived there. Place those dreams on hold for a moment.

Its not worth it to get yourself wrapped into a financial headache.

NEED A REAL ESTATE LAWYER? 

 

My address is 901 Guelph Line, Burlington.

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

WHAT HAPPENS IF I DON’T GET FUNDING FOR MY REAL ESTATE CLOSING


WHAT HAPPENS IF I DON’T GET FUNDING FOR MY REAL ESTATE CLOSING

One of the biggest issues that arises during the real estate closing process is where the purchaser is not able to secure funds.

While this is a common occurrence that can at times be rectified. It can also pose significant challenges that can result in serious legal liability.

Get Funding Approval First!

Even when you are just thinking of buying a home or selling and prior to even meeting with a real estate agent. It’s incredibly important to first ensure you will be able to secure funding. Have it all charted out. Meet with your financial specialist.

Do this before you even start looking around.

Conditional on Financing

Ensure that your Agreement of Purchase and Sale is conditional on financing. Which is typically a standard clause. However, in some situations a seller may opt to go with another party that does not make the offer conditional on financing.

Ensure that you have met and discussed with your realtor your concerns about funding.

Keep Bothering the Lender

I tell people to continue to stay on top of regular communication with their lender. You don’t want any surprises at the last minute. Ensure that whatever you are using to communicate with your lender or broker is documented.

A common mistake people make is not ensuring their funding is secure.

What if I don’t get Funding.

Here’s where things can get messy. If you require an extension for the day of closing you must request it early on. You must instruct the real estate lawyer to do so.

It is likely the seller’s real estate lawyer will impose terms and conditions. However, the sellers lawyer is also entitled to decline an extension. Thus, making the agreement in breach.

In this situation the seller can keep your deposit. Worse, they may also start a lawsuit against you for failing to hold up your end of the bargain.

Based on experience, people don’t always resort to suing unless of course there were special circumstances. Plus, the years involved in a civil litigation lawsuit is often not worth it. It’s best to move quickly to simply find a new buyer.

 

REAL ESTATE LAWYER NEAR ME 

 

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

Real Estate Closing Fees


WHAT’S THE COST OF A REAL ESTATE CLOSING?

The most common question I get from prospective home buyers or sellers is how much does a real estate lawyer charge.

REAL ESTATE LEGAL FEES

For the most part, real estate lawyers will charge a base flat fee for a closing. However, on top of that there will be various charges.

Most lawyers will charge an additional fee for registering your mortgage.

REAL ESTATE DISBURSEMENTS

Here is where things can a bit tricky. If you are purchasing a home you will require:

All of the above can be subject to change. Some real estate law firms will use a conveyancer who performs the title search. That means this is a disbursement and will be added to your bill.

I have talked about title insurance in previous posts. Most lawyers will not close a deal until title insurance has been purchased.

The Land Transfer Tax is also something that must be paid to the government and is based on the home you have purchased including the city and any other special circumstances.

Registration fees are what lawyers have to pay when using special software to close the deal.

Finally, photocopying costs, certifying cheques, courier charges are all charges that a real estate lawyer incurs as a result of your closing.

SO WHAT’S THE REAL COST OF A REAL ESTATE CLOSING?

Again it really depends since this involves a bit of homework as the consumer. However, in most situations you will want to determine the base price for the closing, along with the mortgage registration and then the disbursements.

REAL ESTATE LAWYER NEAR ME

 I am a real estate lawyer in Burlington, Oakville, Milton and Hamilton. 

My address is 901 Guelph Line, Burlington.

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

Should I just plead guilty?


I WANT TO PLEAD GUILTY

Pleading guilty in traffic court is very different from pleading guilty in criminal court. If you are thinking about pleading guilty to a criminal offence contact a criminal lawyer in Burlington today.

DO I NEED A LAWYER TO PLEAD GUILTY?

No, you don’t need a lawyer. However, it could be really, really useful.

WHY SHOULD I HIRE A CRIMINAL LAWYER?

If you are thinking of pleading guilty a good criminal lawyer will review your file. Determine if he or she can get a better deal from the Crown. If you have multiple criminal charges there is a possibility the criminal lawyer may be able to have some dropped. Perhaps, the criminal lawyer can alter the terms that the Crown is asking for a guilty.

However, the biggest benefit of having a criminal lawyer is that he or she will explain the process to you during a guilty plea. Finally, your criminal lawyer can explain the differences between things such as, a conditional discharge, absolute discharge etc., and whether or not you will have a criminal record.

PLEA INQUIRY

Another important reason to hire a criminal lawyer is for what courts refer to as the plea inquiry. When entering a guilty plea, the court must be satisfied that:

  1. The individual is entering the plea voluntarily and informed, and appreciating the risks;
  2. That the judge may decide to impose his or her own sentence despite what the Crown said;
  3. That you are giving up your right to a trial and any legal defence.

An experienced criminal lawyer will help you with this.

 

SENTENCING

Finally, at the last step, a lawyer can be very helpful in convincing a judge to provide for a more reasonable and balanced sentence. This is done through sentencing submissions.

CRIMINAL LAWYER NEAR ME 

Do you need a criminal lawyer in Oakville, Burlington, Milton and Hamilton. Give me a call.

PH: 416-505-4901

901 Guelph Line, Burlington, ON?

WHAT IS UFFI – Real Estate Lawyer Burlington


WHAT IS UFFI

In Ontario, the Agreement of Purchase and Sale is used when buying or selling property.

Paragraph 23 of deals with the clause entitled UFFI.

Urea formaldehyde foam insulation also known as UFFI is a standard clause, wherein the seller promises that UFFI was not used in the construction of the home either prior to their possession or after and to the best of their knowledge.

According to the Health Canada website during the 1970’s UFFI was used in the construction of homes for the purposes of insulation. In 1980 UFFI was prohibited as per the Hazardous Products Act.

The concern was that the formaldehyde released harmful gasses. This resulted in many homes that did have UFFI to suffer substantial property losses.

As a result, today UFFI is not used. However, their may be older homes unbeknown to even the seller that could still have urea formaldehyde insulation. Therefore, paragraph 23 is a standard clause, that requires the seller to warrant or in other words promise that UFFI was not used. This also protects the home buyer.

If you have any further questions contact my office to speak with a Real Estate Lawyer in Burlington. 

Also, feel free to review my other articles about the Agreement of Purchase and Sale:

Part 1: Agreement of Purchase and Sale 

Part 2: Agreement of Purchase and Sale 


For many real estate clients this provides peace of mind knowing they can contact me.

IS THERE A REAL ESTATE LAWYER NEAR ME?

If you are buying a home or selling contact our office to speak with a real estate lawyer in Burlington.
I provide legal services in Burlington, Milton, Hamilton and Oakville.

My address is 901 Guelph Line, Burlington.
You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

How to prepare to meet your lawyer


MEETING YOUR LAWYER

It’s important to know what to expect when preparing to meet with your lawyer for the first time. Below are some handy tips to keep in mind when meeting with a lawyer. Regardless, of whether it’s a criminal lawyer, real estate lawyer or a personal injury lawyer.

IS THE LEGAL CONSULTATION FREE?

When scheduling a legal consultation find out whether the initial legal consultation is free or not. If its not free determine the cost and method of payment.

WHAT DOCUMENTS SHOULD I BRING TO THE LAWYER?

Generally, it’s a good idea to bring all relevant documents to the meeting. At my law office I usually ask if possible to scan and email all the documents. That way, I can take a quick look at the documents prior to the meeting. It also saves time in waiting for me to make copies.

PHOTO ID

Every lawyer in Ontario must verify identify. This is a legal requirement for lawyers. In doing so, many will make a photocopy of the drivers license. The photocopy will be kept on file it will not be disclosed to anyone nor can be used for any nefarious purpose. Therefore, no need to be concerned about privacy.

CAN I BRING A FRIEND TO THE LAWYERS OFFICE?

You can, but it really depends upon the lawyer whether they want the actual friend in the consultation. In most situations, private matters will be discussed and you may not want your friend knowing everything. Do you want your friend to know about your finances? Do you want your friend to know if you have ever been charged with a criminal offence?

Many lawyers may request that the accompanying friend sign a waiver of confidentiality, provide their basic details such as, name and address. Also, many lawyers may also request the friend sign a waiver acknowledging they understand the lawyer is only providing advice to the other party.

WHAT HAPPENS DURING THE MEETING

Remember, you lived it, it’s your story. Whether it’s a bad divorce or a criminal charge the lawyer wasn’t there. Many lawyers may start with, “so start from the top” some may begin the interview with asking questions based on documents. An experienced lawyer can generally figure out most matters within a few minutes. From there the lawyer may provide general advice or suggestions on how to deal with the matter.

Keep in mind most lawyers for most matters will schedule about an hour. If it takes you a long time to figure out the story or you are a chatter box, you may be end up going over the hour. Like any other professional it may be that the lawyer has another scheduled meeting for the next hour. Therefore, when discussing your matter with the lawyer ensure you have your version of events. That you have a basic idea for dates, times and location of events. It’s not a guessing game, just a good idea. The better the lawyer knows your story, the better he or she can prepare to present your case.

THE LAWYER WAS MEAN TO ME

Yes, its true the lawyer you are meeting could come across as asking you many questions. They may question your version of events. They may even make you feel as though you aren’t telling the truth. For the most part, a good lawyer may be doing this to really test your story. A good lawyer will also advise, that they are doing this only for the purposes of testing your story. Not to make you feel terrible about what’s happening.

You can bet when it comes to a personal injury matter the lawyer will ask you a number of questions and at times quite detailed.

Don’t take any of this personally. In most cases, this is done only to ensure

HOW MUCH WILL THE LAWYER CHARGE?

Here’s the big one. How much will the lawyer charge. Ensure you are clear on the terms. Ask the lawyer if you don’t understand the terms. Be clear on what your obligations are. If you can’t afford the immediate financial retainer ask the lawyer if there are options.

MORE TIPS FOR MEETING YOUR LAWYER

You can also check out some of my other articles about working with a lawyer.

Working With A Lawyer

Working With A Lawyer Part 2

How do I find a lawyer?

Trying to find a good lawyer?

 

LAWYER NEAR ME?

If you are looking for a local Burlington lawyer call my office.

 

BURLINGTON LAWYER

Do you need a civil litigation lawyer? Call my office.

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

I WANT A DIVORCE!


I WANT A DIVORCE!

These are the words that an angry or rationale partner may say to another. Or the words, a partner who is tired of being in a miserable marriage starts to Google, “I want a divorce” only to find millions of google searches.

For what its worth there’s no real way on how to cope with either wanting to obtain a divorce or being on the receiving end. What is important is that you hire a family lawyer who will help ease the emotional and financial stress and provide the best possible guidance.

Most people think a divorce simply requires the filing of standard paperwork the minute they walk out the door. However, its not necessarily as easy as that. The period of separation prior to filing for divorce is one year.

There are good reasons for that, in that many, many couples may attempt to reconcile. It’s also important to keep in mind that during that one year period the law understands couples may reconcile. Therefore, providing for a 90 day grace period.

In any event, simply saying the words you want a divorce isn’t enough. There will often be much more that happens. Especially, if the couple has property and children.

FAMILY LAWYER NEAR ME IN BURLINGTON? 

If you need the legal services of a local family law lawyer please call me direct.

Are you looking for a family law lawyer in Burlington or Oakville? Call my office.

My address is 901 Guelph Line, Burlington.
You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211

Lawyers with free consultation


DO LAWYERS CHARGE FOR CONSULTATIONS?

Some lawyers charge for legal consultations and some don’t. Often prospective clients are unaware that a lawyer may charge for a consultation.

At my law office for certain matters such as, civil litigation, family law and employment law I will likely charge a nominal fee.

Generally, for matters such as, personal injury law and criminal law I won’t.

Remember, a lawyer is taking time out to meet you, and to hear your story and to provide some recommendations and advice. Like any other professional the lawyer is entitled to bill for their time.

In all honesty, lawyers aren’t paying their bills through legal consultations. The legal consultation fee is also a way for a lawyer to determine if someone is serious about seeking advice or just shopping for free advice. You will be surprised with the types of people that call us and the types of problems we hear. On some occasions, a lawyer can spend a great deal of their time simply talking to new clients over the phone. That’s a lot of time.

If you are scheduling to meet with a lawyer always ask whether they charge for a legal consultation. If so, find out what the terms are. Many lawyers may charge for a legal consultation but may waive the fee if you retain them. Also, ensure you determine the method of payment. Unfortunately, many law offices are still old fashioned and don’t necessarily have debit and credit card options. If you’re paying by e-mail money transfer when does the transfer have to occur.

I’ve heard from some prospective clients that on scheduling a legal consultation some lawyers ask for a credit to be placed on file. Obviously, for the lawyer that’s peace of mind knowing they can bill for their services. However, what about the prospective client? What if they didn’t receive any helpful information during the session and it was a complete waste of time? Some prospective clients are required to pay immediately after receiving services such as a dentist office.

Whatever the case, always ensure you know the terms.

At my law office in Burlington I will generally request that prospective clients email me their availability. I will usually reply and confirm with the date, time and location and the terms of the legal consultation. Also, normally 24 hours prior to the legal consultation I will follow up with the prospective client to ensure they are still good for the day. I also advise, that if they can’t make it in, to not be shy about emailing me. This avoids me having to wait for a client that isn’t showing up thus, a waste of time.

I NEED TO TALK TO A LAWYER

If you need a local Burlington lawyer or a local Oakville lawyer call my office.

CIVIL LITIGATION LAWYER NEAR ME

Do you need a civil litigation lawyer? Call my office.

You can also call or text at 416-505-4901 OR call Toll Free: 1 (800) 939-9211