Real estate lawyers selling homes?

Real estate lawyers selling homes?

Real Estate Lawyer and frequent columnist Bob Aaron recently wrote an article entitled, Lawyers selling homes could upset the realty apple cart: Bob Aaron

The real estate law firm referenced in the article obviously notices the potential lucrative real estate market. The model the firm has developed is novel and likely never done before in Ontario. This gives consumers a one stop shop and peace of mind knowing that the real estate lawyer is just down the hall if they have any questions.

Of course, as referenced in the article local realtors are not happy with the new venture. In fact, some it seems have stopped referring work to the firm.

I know many of my colleagues that practice real estate law often joke, that in a real estate transaction it’s the lawyer who makes the least and carries all the liability!

I have also seen a growing trend in the reverse where realtors have been renting space to real estate lawyers. In this business model, the lawyer will rent the office as a tenant. If the realtors’ clients would like to ask a question or use the legal services of the real estate lawyer he or she is just down the hall. Therefore, it seems that realtors already recognize the potential in this type of business structure.

If you are looking to buy or sell your home please contact my office I am a lawyer in Burlington and I practice real estate law.

My address is 901 Guelph Line, Burlington.

You can call or text at 416-505-4901.

WHY DO REAL ESTATE LAWYERS CHARGE MORE FOR A PURCHASE

WHY ARE THE LEGAL FEES ON A PURCHASE HIGHER?

Most Real Estate Lawyers will charge more for a real estate closing involving the purchase of a home. The reason being that a purchase involves more work and legal liability. A real estate lawyer acting for the purchaser must review title and ensure it is clear. Funds need to be transferred, disbursed and or delivered. As a result, this also involves an accounting transaction in the lawyer’s bank account.

The purchaser’s real estate lawyer must ensure that everything has been paid up to the date of possession. At times, a survey may be required as well. Finally, the real estate lawyer will need to register the deed and mortgage.

If you are buying or selling your home please let my real estate law office handle your transaction. I am in Burlington and I also serve Oakville, Milton and Hamilton.

Call 416-505-4901 or email me at ray@rehankhalil.com

901 Guelph Line, Burlington

Real Estate Lawyers will profit from Burlington home sales.

HOME BUYERS REALIZE THE POTENTIAL OF BURLINGTON

In a previous post I blogged about why I have decided to practice real estate law in Burlington. Essentially, over the next 10 to 15 years Halton and surrounding regions will be great places to live and do business.

 

Halton in the fall.

Halton in the fall.

With the booming population more people are realizing the potential of living in Halton region. As a result, people are buying and selling homes in Burlington and surrounding regions. In my opinion many who are selling continue to remain local and are not venturing far and why would they?

Local infrastructure in Burlington and Oakville is doing great. We have new schools and numerous new professionals such as, doctors, eye specialists and dentists. Let’s not forget that corporate Canada spends years researching trends, demographics and neighbourhoods before they decide to invest millions. For example, Walmart located at Appleby and Dundas in North Burlington opened up right around the time new residential developments started popping up around Dundas. Walmart recognized the potential of North Burlington and Oakville. Recently, Fortinos opened up two new locations on Dundas alone.

Local hospitals through Halton Healthcare have realized that all this development means more patients requiring their services. As a result, in January 2015 the new Oakville Trafalgar Memorial Hospital opened its doors. Previously, vacant farm land was converted into a state of the art facility that will serve the residents of North Oakville, North Burlington for decades to come. The Burlington Joseph Brant Hospital is also undergoing renovations and so is the Milton Hospital.

All of this means more business for Burlington and Oakville that means more business for real estate lawyers such as myself.

If you are in the market for a new home I would highly recommend visiting Burlington, Oakville and Milton. If you have decided to purchase and or are selling and need a real estate lawyer near you please call, email or text my office.

 

901 Guelph Line, Burlington

Buying an Estate Home

I WANT TO BUY AN ESTATE HOME

On a Saturday morning in the fall I received a call from a Burlington Realtor asking about how to word an offer on behalf of her clients the buyers, purchasing a home that would be an estate sale.

Since, I am such a super lawyer I emailed her back with some thoughts. There are a few things to consider when thinking about real estate and wills and estates and probate.

If you are the buyer you should ensure that the offer is structured as in a way to protect your client. The seller will likely have to go through the probate process. Probate is the official court process wherein, an individual or trust company will be appointed to manage the estate. The actual term is Estate Trustee or Executor but to make it easy I just refer to them as the Manager.

In some situations, the home might have already been put up for sale, with the seller still looking to be appointed as Manager. The official document needed is the Certificate of Appointment of Estate Trustee with a Will or Certificate of Appointment of Estate Trustee without a Will.

HOW DO I STRUCTURE THE AGREEMENT OF PURCHASE AND SALE WHEN ITS AN ESTATE?

In this situation it might be practical for a flexible closing date that allows for an extension as mutually agreed upon. In this type of transaction it is the buyer who assumes more risk. A real estate lawyer or realtor will advise about some of the obstacles. For example, the buyer might be looking to sell their home around the same time they close on the estate home.

The second more concerning scenario is the buyers lack of knowledge about the estate. What if there is an estate dispute? What if another family member of the estate contests the appointment? Estate Litigation can last for years. The last thing a buyer would want no matter how amazing the property is to be locked into a transaction waiting on the outcome of a protracted court battle. Also, what if the court finds in favour of another family member. Think of the consequences this could have?

AGREEMENT OF PURCHASE AND SALE AND PROBATE CLAUSES

As a result, it’s a good idea to have a probate clause in the Agreement of Purchase and Sale.  This not only forces the seller to acknowledge they have the Last Will and Testament but also something to ensure they will start the court process expeditiously.

Samples of these clauses can be found here: Probate Clauses

For additional information feel free to call or email my office. I am a Real Estate Lawyer in Burlington.

My address is 901 Guelph Line, Burlington.

 

 

Why I decided to practice Real Estate Law in Burlington-Halton

BURLINGTON REAL ESTATE

One of the reasons I am a real estate lawyer in Burlington is that it’s the hottest market right now. But, don’t take my word for it:

Burlington ranked one of top 10 cities in Canada

Canada’s Best Places to Live 2016

Canada's Best Places To Live In 2016 Ranked By MoneySense

The Burlington housing market continues to expand along with the local infrastructure. It’s one of the reasons I have decided to call Burlington my home. With easy access to three 400 series highways residents can have the option of many surrounding regions for work. For example, QEW, 403, 407 and to some extent 401. With the 407 residents can reach Scarborough, during rush hour just under an hour.

Burlington Waterfront

Burlington Waterfront

Burlington also has easy access to GO Transit with one line travelling directly to Union Station in Toronto. On any given day, thousands of people use the GO Transit Lakeshore line to travel to Toronto for work.

Apart from that Conservation Halton has some stunning parks accessible within minutes. Burlington’s downtown core still continues to enjoy a little bit of old and new. Burlington is also minutes away from Niagara on the Lake and Niagara Falls. In fact, both are just under an hour away depending on traffic.

The surrounding regions are also great places to live, however of course as a resident of Burlington my opinion might be slightly biased.

Many businesses have realized the potential for growth and space in Burlington and some of your favorite brands are local. For example, IKEA’s Canadian headquarters is located in Burlington and so is TD Insurance. McMaster University has opened up the Degroote School of Business and it’s right off the QEW.

All of this has led to the emergence of a housing boom. Sundial Homes is close to finishing the final installment on their Alton Village community near Walkers Line and Dundas. This has been one of the fastest growing communities.

If you want higher end shopping you can venture out to Mapleview Mall for more affordable retailers check out the Burlington Mall. Don’t forget the new Premium Outlets in Milton are just a 15 minute drive and the outlets in Niagara are only a 45 minute drive.

This is great news for a real estate lawyer such as myself.

OAKVILLE REAL ESTATE

Oakville is right next door to Burlington and also considered a fantastic place to live. However, the costs of a home these days in Oakville is astronomical with detaches easily being sold for over a million. If you can afford it, that’s great. In all honesty, the difference between Oakville and Burlington is not that noticeable. Again, one of the reasons people are choosing Burlington given its relatively affordable housing market.

Oakville’s popularity has increased since the building of the new Oakville Hospital. Take a trip down Dundas and you will see an incredible amount of development. Hopefully, Dundas will be expanded to accommodate all the traffic.

Oakville has a charming downtown core that is situated right off the lakeshore. If you’re bored take a trip down near where the lighthouse is.

My office provides real estate legal services to Oakville.

MILTON REAL ESTATE

Milton is also another great place and the prices of homes are in comparison to Burlington. Again, no real noticeable difference between the two cities. However, with Burlington folks do have easier access to the QEW and Lakeshore if that is a priority. Moreover, highway access for Milton is primarily through the heavily congested 401. The QEW has its share of issues, but it still seems to operate slightly more efficient. Milton also has access to the GO.

Given the proximity of Milton to my office I also provide real estate law services in Milton.

HAMILTON REAL ESTATE

The “Hammer” has a downtown core that seems to just have given up. You can see the old remnants of a once proud and booming city, formerly known as, “Steel Town”. It’s sad to see what’s happened to downtown Hamilton. However, Hamilton’s surrounding regions continue to increase in development and population. Waterdown and Stoney Creek are great communities with affordable housing. Ancaster is a fantastic place to live, however the prices of homes are starting to really climb over the million-dollar mark. Flamborough, is an established older community with many beautiful custom built homes right next to Webster Falls.

Hamilton is accessible by Go Transit. However, keep in mind that the Lakeshore line doesn’t always end at Hamilton. On many occasions commuters may have to transfer to a bus from Burlington.

Hamilton also enjoys easy access to the QEW and 403. Hamilton is also home to McMaster University and Mohawk College.

WHERE SHOULD I LIVE?

In my opinion all these cities are great places to live. The growing population is the reason I have decided to focus my real estate law practice in these regions. If you are looking for a lawyer near you or in Oakville, Burlington, Milton or Hamilton please call my office.

My address is 901 Guelph Line, Burlington.

 

You can also call or text at 416-505-4901

 

DO I NEED A REAL ESTATE LAWYER?

WHY DO I NEED A REAL ESTATE LAWYER?

Whether you are selling or buying on your own or through a realtor the need for a real estate lawyer is imperative.

Websites such as Property Guys and Com Free have started to gain in popularity as many folks seem to feel exhausted with the whole process of buying and selling a home. These websites eliminate the need for a realtor and can save buyers and sellers a tremendous amount of money on fees. Despite, the popularity and allure of selling your own home realtors have not noticed any notable dent in their business based on these sites.

HOW MUCH DOES A REAL ESTATE LAWYER CHARGE?

Purchasing a home ranks right up there with some of the most important decisions in an individual’s life. Most real estate lawyers charge anywhere between $700 to $2000 for a residential real estate closing. Do you really want to skip out on the use of a lawyer because of this fee? Does saving that fee make it worth your while?

Here’s a great article about why you should use a lawyer entitled, Home Buyers: What should a real estate lawyer do for you?

Feel free to review the following link on my site where I detail how legal fees and disbursements are calculated in a real estate transaction.

Real Estate Lawyer Fees Burlington

HOW CAN A REAL ESTATE LAWYER HELP ME?

A good real estate lawyer will guide you through the process and explain any fine print. Also, when it comes to handling funds, many financial institutions are comforted knowing that a lawyer is handling the transaction. In addition, many financial institutions have their own specific criteria for how funds are to be handled. Many experienced real estate lawyers are often familiar with the practices of certain lending institutions.

Throughout the real estate closing there are a number of issues that can arise. A common issue is where the real estate law office receives funds on the day of closing or sometimes even an hour before the end of the business day. Other issues, can be related to the property itself, outstanding property taxes, verifying home insurance. If you are the purchaser your real estate lawyer will contact the utilities companies and notify them, of the address and name change.

WHY CAN’T I CLOSE MY HOME ON MY OWN?

In my practice, I openly advise clients that anything a lawyer can do, you can do on your own. The issue is whether you will actually know what you are doing. One of the most important elements of a real estate transaction is verifying title, registering a mortgage, discharging a mortgage, registering a deed. Lawyers in Ontario use computerized software in order to complete these tasks. In the old days lawyers practicing real estate law would physically attend at the Land Registry Office on the day of the closing.

The option of attending on your own is still available to the public follow the link entitled Search land property records.

From a realistic standpoint this is not a practical option for clients looking to close their home. On-line computerized software is also not open to all members of the public. Even Lawyers must complete a formal application process in order to register to use the on-line property search software. There is also a fee that is passed on to the client as a legal disbursement.

HOW DO I CONTACT A REAL ESTATE LAWYER?

Easy, call my office to speak with an experienced real estate lawyer. I provide legal services in Burlington, Oakville, Hamilton and Milton.

My office is located at 901 Guelph Line, Burlington Ontario.

You can also email me at ray@rehankhalil.com

You can also call or text at 416-505-4901

 

FINDING THE RIGHT REAL ESTATE LAWYER

HOW DO I FIND A REAL ESTATE LAWYER?

There are lots of real estate lawyers in Burlington, Oakville, Milton and Hamilton. When searching on the internet ensure you find the right lawyer.

Here are some tips in finding a real estate lawyer:

Access to your lawyer

Ensure, that you can communicate with your lawyer when you have questions. Many busy real estate lawyers are not always available. Clients are left often having to speak with only law clerks.

Make sure you meet with your lawyer

Again, while the bulk of real estate law is handled by law clerks make sure you get a chance to meet with your real estate lawyer. Especially, on signing the final documents!

Lawyer near me

I always recommend that your real estate lawyer be close to you. During the process of the closing there will often be last minute things that will be required from you. It’s significantly easier when the law office is local.

Ask the right questions

Good lawyers will always presume a client knows nothing and will do his or her best to explain the process. However, sellers and purchasers should always be asking questions. For example, what is title insurance? This is a great way to ensure your real estate lawyer is able to provide you with the best advice and legal services.

When should I consult with a real estate lawyer?

You can consult with a lawyer at any stage of the process even prior to entering into an Agreement of Purchase. However, practically many people end up contacting a real estate law office after they have already agreed to the terms of conditions of the sale.
It is recommended that you consult and retain a real estate lawyer immediately on knowing of your closing date. One of the biggest mistakes people make, is waiting days until the closing to find a real estate lawyer. This can have serious consequences.

HOW DO I CONTACT A REAL ESTATE LAWYER?

Feel free to text or call 416-505-4901 or dial toll free: 1-800-939-9211

My office is located at 901 Guelph Line, Burlington and is right next to the QEW and parking is free.

What should I know about a Will in Ontario?

What should I know about a Will in Ontario?

Below is a great informational video by the Law Society of Upper Canada about Wills in Ontario and the role of the Wills and Estates Lawyer.

The video is entitled Your Law: Wills and Estates

If you have additional questions about Wills and Estates and you live in Burlington, Oakville, Milton or Hamilton then contact my law office in Burlington.

I need to contact a Wills Lawyer in Burlington

Feel free to text or call 416-505-4901 or dial toll free: 1-800-939-9211

My office is located at 901 Guelph Line, Burlington and is right next to the QEW and parking is free.

How do I prepare a Will?

How do I prepare a Will?

Many Wills and Estates Lawyers will advise that prior to the first meeting prospective clients complete a questionnaire. This is used for the purposes of assessing an individual’s estate and further to draft the Will. This form should be completed as accurately as possible. Certainly, during your legal consultation additional questions from the lawyer will assist in providing clarity.

Below is a form that I provide to my clients prior to my first meeting. I have uploaded the link here for additional ease of access.

Wills and Estates Form

At the interview stage, this questionnaire along with an individual’s responses help the lawyer to start the process of preparing the Will. Not only that, it also gives the lawyer insight into the individual’s life, their goals and concerns. For example, an elderly mother might not want to give anything to one of her children.

In this intimate legal consultation a wills and estates lawyers job is to ensure that he or she really understands the client’s needs.

Can I just use a Will kit?

No.

Many will think that a Wills and Estates Lawyer frowns on this only because it takes money away from them. This is not the case. A Will is not a one size fits all template. We all have unique circumstances in our lives that should be reflected adequately in the Will.

An experienced Wills and Estates Lawyer can provide practical advice about estate planning that could reduce expenses and ensure your loved ones get the most from your estate.

How do I contact a Wills and Estates Lawyer

Do your homework. If you would like to speak with me I am local in Burlington, Ontario.

Feel free to text or call me at 416-505-4901 or call toll free: 1-800-939-9211

My law office is located at 901 Guelph Line, Burlington, Ontario.

 

How do I find a lawyer?

LOOKING FOR A LOCAL LAWYER

Despite, all the resources out there, people still struggle with finding a lawyer. Thankfully, Burlington and Oakville residents don’t have to travel far to find an experienced lawyer.

Feel free to browse some of my other blog entries regarding this subject:

How to find a lawyer?

Referrals from family and friends continue to be the preferred choice in selecting a lawyer. Then of course there is the internet. You will find today that there are many lawyers providing a wide array of legal services.

Research the lawyer and ask questions. Also, find out whether they are truly local. Many law firms in Toronto advertise they are local in order to show up in search engine results but in fact are not local. Having a local lawyer will reduce stress, time and expenses associated with traveling. For example, consider the cost of parking in Toronto just to attend a legal consultation.

Ensure your lawyer has experience. Again, with the overwhelming number of choices out there it can be hard to determine what makes one lawyer better versus another.

Finally, ensure the lawyer understands your needs and can work within your financial budget.

If you are looking for a criminal lawyer in Burlington or a civil lawyer call or text 416-505-4901.

Feel free to call toll free: 1-800-939-9211

I am located at 901 Guelph Line in Burlington.