Real Estate Closing Process

Purchasing a house is an intimidating task indeed. And we understand that.

So to make it less scary for you we have broken it down into a step by step process.

This will help you learn every step of the real estate purchase process:

Step1. Find the Right Home

There are countless different factors that go into selecting the “perfect” home. Shortlist your priorities, things like location, cost, best school district (if you have kids) and the physical appearance of your home etc

After you’ve found a house that’s a good fit for you, it’s time to get serious.

To make sure everything runs smoothly it’s best to look for help from a trustworthy and experienced professionals who are familiar in the buying and selling process.

First step is to get pre-approval on the mortgage to avoid any future disappointments. After that, you should hire an experienced and qualified Realtor.

Your Realtor, will draft up an offer to purchase.

This is the best time to take a real look at the Property Report and make sure there are no problems with the home. This is a point where you can think about getting a Real Estate Lawyer involved.

Step2. Set the Buying Process in Motion

Now you have to forward a copy of your offer to purchase (purchase contract) to your lawyer.

Both buyer and seller need a separate lawyer (you can also choose one Law firm and they can arrange a lawyer for both the parties) (you can find more information on this topic on our website too). The lawyer would be responsible for holding all money and documents essential for the transaction, from both buyer and seller, until the entire procedure is complete.

Step3. Conduct a Title Search

One of the first things of many, your lawyer do is to search title at the property registry office. The title search gives all records and documents that are relevant to the property. The documents are now scrutinized to make sure there are no deficiencies, liens against the property, or other issues that cannot be rectified by the lawyer. If there are no twists and turns, you’ll be free to continue with the deal.

Step4. Inspect the Home

Home inspections are extremely important. Both basic home inspection and pest inspection are important to guarantee lasting contentment in your purchase. It’s important that you hire your own independent home inspector. You definitely don’t want one who is connected to the seller in any way.

Step5. Give It a Final Once-Over

Don’t forget to negotiate a final walk-through of the property with your Realtor as a phrase of your purchase contract. The purpose of this is to confirm that all circumstances set in the sales contract have been met and no harm has been done to the property since the first viewing of the house.

Step6. Prepare Closing Documents

Now your Real Estate Lawyer will begin to prepare closing documents that will include a transfer of land. In expectation of the final closing, the buyer have to round up all of the paperwork they’ve collected during the home buying process. This generally includes, mortgage documents including any mortgage broker’s contact information, sales agreement, proof of title search, proof of homeowner’s insurance for full replacement cost. Remember, that you will be required to give picture identification that includes full legal name to complete your purchase.

Step7. Close the Sale

Your Real Estate Lawyer will meet you 2 to 3 days before the purchase closing date to sign your purchase and mortgage documents. The Lawyer will review them with you and would make you sign all the legal papers. You have to take any deposit money or down payment that is required to close the purchase at this time.

The Purchaser’s lawyer would have received all the documents that are required by the Seller’s lawyer to transfer Title and e will review them with the Purchaser. Now the Closing date has arrived. On this date, the Seller’s lawyer receives the required money from the Purchaser’s lawyer to close the transaction. The Purchaser’s lawyer will now send the documents to Land Titles for registration. Once the main Sellers have received the money from the Purchaser’s lawyer they tell their Realtor to release keys. Now your Realtor will get keys from Purchaser’s Realator and make a meeting time to give it to you, typically, this all occurs before noon on the closing date.

Step8. Welcome Home!

Hooray!! You’ve successfully made it through one of the most important purchases of your life. You are a Homeowner now! Let’s crack that bottle of champagne and celebrate!! Owning your new home is one of the best feelings ever. It can’t be described in words. A new house brings new special moments, security and happiness. Enjoy your new house and more blessings to come!

Whether YOU ARE buying our selling a home, Shaikh Law Firm has the right Real Estate Lawyer for you. Our competent and experienced Real Estate Lawyer offer their expertise in all areas of Residential and Commercial Real Estate. We have offices in Toronto, Etobicoke, Oakville, Mississauga, Brampton and Winnipeg, Manitoba.

What else one wants when a lawyer will travel to you when necessary. Let our Real Estate Lawyer propose you their skilled advice at a competitive low price. At Shaikh Law, you yourself would say that we are Accessible, Affordable and Reliable.

What We Can Do For You?

Purchase

Sale

Refinance

Title Transfer

Independent Legal Advice

Interim Closing

Real Estate Lawyer Fees

Real Estate Lawyer Toronto Fees

Our Real Estate Fees Structure is Transparent in accordance with the Law Society Rules 4.2-2.1

Real Estate Lawyer downtown Toronto

Real Estate Lawyer Fees for Purchase

Our Real Estate Lawyer Fees for Buying a  property is $900 + Tax for a Cash Purchase.  However, if purchasing with a Mortgage then Legal fees will be $999+ Tax. 

WHAT IS INCLUDED IN LEGAL FEES;

  • One Title Search;
  • Two Writ Searches;
  • Two Execution Searches;
  • Bank Charges, including Two Certification of Cheques;
  • Printing, Courier Charges;
  • Phone & Fax charges.
  • Software Charges;
  • File Opening Charges;
  • One Appointment/ Mobile Signing.
  • After Office Hours Appointment
  • Securing Title Insurance

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Land Transfer Tax; (Charged As Per Invoice)
  • Title Insurance; (Charged As Per Invoice)
  • Registration Cost per Transfer or per Mortgage $78; (Charged As Per Invoice)
  • Stewart Assyst Charge $28.30 (Charged As Per Invoice)
  • Additional Title Searches (If required, Charged as per Invoice)

Real Estate Lawyer Fees for Sale

Our Real Estate Lawyer Fees for Selling a  property is $810 + Tax. 

WHAT IS INCLUDED IN LEGAL FEES;

  • One Mortgage Payout or Any other payout;
  • Bank Charges, including Two Certification of Cheques;
  • Printing, Courier Charges;
  • Phone & Fax charges.
  • Software Charges;
  • File Opening Charges;
  • One Appointment/ Mobile Signing.
  • After Office Hours Appointment
  • Securing Title Insurance

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Law Society Levy $65
  • Per additional Payout $63 + Tax if required
Real Estate Lawyer Toronto Fees for Sale
Refinance Lawyer

Real Estate Lawyer Fees for Refinance

Our Real Estate Lawyer Fees for Refinancing a  property is $810 + Tax. 

WHAT IS INCLUDED IN LEGAL FEES;

  • One Mortgage Payout or Any other payout;
  • Bank Charges, including Two Certification of Cheques;
  • Printing, Courier Charges;
  • Phone & Fax charges.
  • Software Charges;
  • File Opening Charges;
  • One Appointment/ Mobile Signing.
  • After Office Hours Appointment
  • Securing Title Insurance

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Law Society Levy $65
  • Per additional Payout $63 + Tax if required

Interim Closing (Condo Only)

Legal Fees for Interim Closing for Condos is $450 + Taxes inclusive of all Law Office Disbursements. 

Interim Closing
Assignment of Real Estate in Ontario

Assignment of Real Estate in Ontario

Our Lawyer’s Fees for Assignment is $450 + Tax inclusive of all Law Office Disbursements.

No Hidden Charges

Ijara Real Estate Lawyer Fees $450 + Tax

Our Ijarah Real Estate Lawyer in can help you with your Islamic Mortgage Documentation. Shaikh Law Firm is on the approved panel of Ijara CDC. 

Our Fixed Legal Fees for Ijara Real Estate Documents $450+ Tax. inclusive of all Law Office Disbursements 

Ijarah Real Estate Lawyer Toronto-min
Real Estate Lawyer Fees for Title Transfer

Simple Title Transfer

Legal Fees for a Simple Title Transfer is $900 + Tax provided no mortgage is being ported.

However, Legal Fees for Title Transfer with mortgage transfer is $999 +Tax.

WHAT IS NOT INCLUDED IN LEGAL FEES?

Land Transfer Tax
Title Insurance (If required by the Lender)
Registration Fees $73

Disclaimer

Our Real Estate Lawyer, 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)

Rush Fees

 Rush Fees of $450 would apply if documents or instructions are received less than a week before closing. If you are seeking to close a Commercial Real Estate Transaction, please visit our Corporate Lawyer Page.

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Title Insurance Calculator

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Title Insurance Calculations are estimates only based on the table for calculation provided by the Insurance Company and it is subject to change without notice at the discretion of the Insurance Company. Title Insurance cost is not part of Shaikh Law Firm Fixed Fees.
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Services Included in Fees

REVIEW & PREPARATION OF DOCUMENTS
SUBMISSION OF DOCUMENTS
PAYMENT TO PARTIES
Why Choose US
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Customers reviews

Mr. Nanavaty from Shaikh law firm work on my real estate purchase.I am very satisfied with his professionalism, cooperation and smooth transition of whole process. I’m very satisfied with the service and very reasonable fee.
I recommend to use their services. The customer service representative Caroline also provide required information very quickly.Thank you team of Shaikh Law firm for their excellent customer service.
Dan Ahir
I used Shaikh law Firm for two real estate transactions (purchase and sale).

Both Transactions were to close on the same day and the Firm handled them very well. I found Caroline to be very helpful and responsive at all times.

I enjoyed dealing with her and felt she treated my files with utmost care and diligence.
She kept me up to date at all times and was quick to respond to my inquiries. Ali is a good Solicitor as well.

He was thorough and explained everything about my two transactions. Both closings went smoothly and I am very happy with service and the cost. I will definitely go back to this Firm for any future transactions.

F. Salim
Excellent service. All questions answered quickly and nicely.

They walked me through the whole process. They handled everything and they were completely affordable.You can not beat their pricing or their service.

Thank you Shaikh Law Firm for keeping the purchase of our new home an exciting and stress free experience.
April Jay

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