Real Estate Lawyer – FAQs
What is all inclusive Legal Fees and Disbursements
- We have a Transparent Real Estate Lawyer Fees structure inclusive of all Lawyer’s Fees and Disbursement in accordance with the Law Society Rules 4.2-2.1. No Hidden Fees or Charges. To get a Quote for our all-inclusive Legal Fees please visit our Real Estate Lawyers Fees page.
- Total Fees Structure available 24/7 to Client
- One Signing Appointment INCLUDED
- Home & Office Signing by Authorized Staff INCLUDED
- After Office Hours Appointments INCLUDED
- Securing Title Insurance INCLUDED
- Review of Insurance Binder INCLUDED
- Reviewing the Agreement of Purchase & Sale INCLUDED
- Unlimited access to your Real Estate Lawyer and Real Estate Law Clerk INCLUDED
- Printing, Faxes, Courier Charges INCLUDED
- One Title Search INCLUDED
- Two Writ Searches INCLUDED
- $180 Discount is included in the quote, assuming that two Feedbacks and reviews will be received by the client prior to closing.
- Submitting requisitions on title and reviewing responses thereto INCLUDED;
- Searching for executions INCLUDED;
- Do all correspondence with the title insurance company, and to completing its required forms and documentation, and to report to the title insurer after closing INCLUDED;
- Examining the draft deed INCLUDED;
- Reviewing the statement of adjustments INCLUDED;
- Reviewing the documentation provided by the builder including warranties, declarations and vendor’s and purchaser’s undertakings, and to verifying enrolment with Tarion Warranty Corporation INCLUDED;
- Preparation of an Affidavit pursuant to the Land Transfer Tax Act INCLUDED;
- Correspondence with the Condominium Corporation and to obtaining a Status Certificate and Certificate of Insurance and to reviewing the same INCLUDED;
- All necessary telephone and written correspondence INCLUDED;
- Meeting with client, including free home signing, evening and Weekend appoints to sign all necessary documents INCLUDED;
- Closing the transaction and to registering the Transfer/Deed of Land INCLUDED;
- Making all payments as well as performing all banking tasks including sending certified cheques as well depositing payments to the Seller, Purchaser, Land Transfer Tax, Title Insurance, Registration Fees, Realtor’s Commission, and Broker Commission INCLUDED.
- Reporting to the client and Bank/ Lender INCLUDED;
Note: Our all-inclusive Flat Legal Fees is based on a Residential Transaction for a vacant single-family property on the date of closing and upon receipt of mortgage instructions a week before closing (if applicable). If you are seeking to close a Commercial Real Estate Transaction, please visit our Corporate LawyerPage.
What is NOT included in all-inclusive legal Fees and Disbursements
The following Government Third Party Charges are not included in the Legal Fees, if applicable to your Real Estate Transaction:
- Land Transfer Tax;
- Title Insurance Cost;
- Per Registration of Mortgage $75.63
- Per Registration of Transfer $75.63
- Legal Fees of Additional Mortgage/ Lien/ charge $99 + HST
- Other Legal Fees if additional Legal Services are rendered. Please visit our Real Estate Lawyer Fees Page.
Discounts or Special Offers or Referrals?
We offer a $45 discount on every second Real Estate file completed by our office. For example, if we are completing your Sale and Purchase then we will give you $45 discount from our All-inclusive fees on your second file. We would only give a $45 discount for any referral made to our Firm.
Do I have to get Title Insurance?
It is always advisable to get title insurance and moreover, lender always insist to get one
When will I get my keys?
On the Date of Closing, we can only release the keys once we have registered the property in your name. In other words, we can only release keys to our clients once they become the owner of the property. It is common for mortgage funds to arrive by 4:30 pm on the date of closing thereby resulting in a delay in releasing the keys. If we receive funds within time then we can release keys between 4 pm to 6 pm.
When will I get Copies of my Documents?
Once, we have registered the property in your name we will email you a copy of the Transfer and will advise you that the keys are ready for pick up. The hard copies of all the documents including our Report on the title will be available for pick up within two months from the date of closing.
Which Office Location I can pick up my keys from?
As per our Law Firms practice all keys pick are to be made between 4 pm to 6 pm Monday to Friday at our Head Office (Mississauga Square One ) Location. Keys can be picked up from other locations on the next working day by Midday. If you wish to have your keys pick-up at a location other than our head office then you would need to specifically make a request in writing at email@example.com
Balance to Close and Land Transfer Tax Cheque should be made payable to who?
Our Office will provide you with a copy of the Trust Ledger with a balance to close amount. Please make a Certified Cheque or a Bank Draft in the name of “Shaikh Law Professional Corporation – In Trust” for the amount mentioned in the Trust Ledger.
Can I make the payment for balance to close with a Credit Card?
No. As per the Law Society Rules, we cannot accept payments by way of credit cards.
Is the Property Tax same as Land Transfer Tax?
No. Land Transfer Tax is paid only at the time the property is being transferred from One party to another, whereas you have to pay property tax every year to the local municipality, as per the tax bill.
What would be the amount of property tax that I have to pay and how to do I know the amount due and payable?
Usually, the property tax roll number and the amount is mentioned in the MLS listing, which is a great guide for you to know your annual property taxes. After purchase, we encourage you to call your local municipality and verify outstanding tax bill. The property tax adjustment is calculated in the Statement of Adjustments.
Why is the signer not able to answer questions we have about our documents/mortgage?
At times, your appointment will be arranged with a signer who is not a Lawyer. The signer is only required to view your identification and witness signatures on the documents provided for signing. The agent has been instructed NOT to provide legal advice or review documents in detail. Following your appointment, please review the documents emailed to you by our office and should you have any questions and/or concerns, contact our office or your lawyer directly for assistance.
Do I need Home Insurance or Fire Insurance?
Yes. Home Insurance or Fire Insurance is required when you are purchasing or refinancing a property. Once you have secured your Home Insurance you would have to instruct your Insurance broker to email our Office with a copy of the Insurance Binder at firstname.lastname@example.org
IDs required for your appointment?
As per the Law Society we require two pieces of Valid Identification front and back such as Canadian Drivers license or a valid Passport is required.
What happens if I do not have proper ID?
Providing proper identification at the time of signing is very important. SHAIKH LAW FIRM has to meet the guidelines of the law society and if proper ID is not provided delays on your file occur. If this happens please show the signer as much ID as possible and the signer will record all ID available. Also advise why the proper ID is unavailable. You should contact SHAIKH LAW FIRM to discuss the ID issue and what can be done to resolve the matter to have your file completed.
What happens if there are discrepancies on the documents and the signer is unable to allow us to make changes?
If you are comfortable with signing the documents as they are, we recommend they be signed and that you contact SHAIKH LAW FIRM to discuss discrepancies. The Signer will notate our file to ensure we do not proceed to complete the file without clarifying these items with you. SHAIKH LAW FIRM can then determine if new documents are required based on the changes needed.
What if the Payment Frequency is different than requested?
If a payment Frequency on the mortgage documentation shows a different frequency then requested by you please contact the Lender to adjust the frequency after funding to avoid a delay in the completion of
SALE: When and how will I receive my funds?
Funds are normally received by you within 1 to 2 business days following your closing. You would have to collect your certified cheque from our Head Office in Mississauga Square One location. Please contact SHAIKH LAW FIRM directly to make any revisions to your delivery options.
REFINANCE: How are my debts paid by SHAIKH LAW FIRM?
Our Law Office will pay any debts that are specifically stated in the mortgage instructions and are part of the mortgage commitment. We would require copies of the last statements including your account number to ensure that we are able to pay off all the debts. If the payee names or amounts are not accurate immediately contact SHAIKH LAW FIRM. We will not send payments to the client to pay off the debts. It is the Law Office Responsibility to clear all debts from the Refinance amount.