Real Estate Lawyer North York

Sale | Purchase | Refinance | Title Transfer

Real Estate Lawyer North York

Buying, Selling or Refinancing a Home is exciting as well as a stressful process. At Shaikh Law, we aim to provide a smooth, efficient and enjoyable experience for our clients. Our real estate lawyer North York fees structure and closing cost are transparent, and there are no hidden charges or surprises.

When you come to our North York Real Estate Lawyer, you know that you will be coming to an experienced lawyer in North York, whether you are buying or selling a house, cottage, vacant land or condominium. Your Lawyer will ensure to prevent any possible legal risks at the very outset of your transaction. We give each file individual attention from start to finish and treat our clients as friends and family. 

At Shaikh Law, our Lawyer and Staff serving you in the North York Ontario area are fluent in English, Hindi, Punjabi, Urdu and Gujrati.

Real-Estate-Lawyer-North York

Real Estate Lawyer North York Fees

Purchase

$999 + HST

Sale

$900 + HST

Refinance

$900 + HST

Lawyer Fees For Purchase

Our Real Estate Lawyer North York Fees for Buying a  property is $999 + Tax for a Cash Purchase.  However, if purchasing with a Mortgage then Legal fees will be $1098+ 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;
  • File Opening Charges;
  • One Appointment/ Mobile Signing;
  • After Office Hours Appointment;
  • Securing Title Insurance;

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Land Transfer Tax; 
  • Title Insurance; (As Per Invoice)
  • Registration Cost per Transfer or per Mortgage $78;
  • Mandatory Software Charges $171 + HST;
  • Online Mortgage Instructions Bank Charge $28.25 (If applicable)
  • Additional Title Searches (If required)

Lawyer Fees For Sale

Our Real Estate Lawyer North York Fees for Selling a  property is $900 + 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.
  • File Opening Charges;
  • One Appointment/ Mobile Signing;
  • After Office Hours Appointment;

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Law Society Levy $65;
  • Mandatory Software Charges $171 + HST;
  • Per additional Payout $63 + Tax if required;

Lawyer Fees for Refinance

Our Legal Fees for Refinancing a  property is $900+ 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;
  • File Opening Charges;
  • One Appointment/ Mobile Signing;
  • After Office Hours Appointment;
  • Securing Title Insurance.

WHAT IS  NOT INCLUDED IN LEGAL FEES;

  • Title Insurance;
  • Government Registration Cost per Mortgage $78; 
  • Mandatory Software Charges $171 + HST;
  • Online Mortgage Instructions Bank Charge $28.25 (If applicable).;
  • Per additional Payout $63 + Tax (If applicable).

Interim Closing (Condo Only)

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

cheapest real estate lawyer fees

Disclaimer

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 seven days prior closing (if applicable). The quotes above assume there are no reasoably foreseen complications.

Rush Fees

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

Real Estate Closing Calculators

How To Get Started

Step 1

Submit Form

Step 2

Get E-mail with Instructions

Step 3

Submit Documents

Why We Are Different

Real-Estate-Lawyers-North York

Online Real Estate Lawyer North York

At Shaikh Law, we believe in providing cost-effective and efficient real estate services to clients. Therefore we have introduced online services for the residents of North York and surrounding areas.

We have the experience, knowledge and expertise to help our client with a range of online transactions, including residential Sale, Purchase, Refinance, same day Sale & Purchase, bridge financing, interim closings for a townhouse or a condo, Secondary Mortgage, Line of Credit, Discharge of Mortgage, Transfer of title of Matrimonial Home as per Separation Agreement or Court Order, Simple Transfer of Title, Private Lending, Independent Legal Advice Real Estate or Mortgage (ILA) and much more. 

Our Real Estate Law Firm have maintained competitive fees by ensuring 99% of online legal services. Our authorized representative must meet with you once to witness your signatures and verify your original IDs.

Role of a Real Estate Lawyer

For most people, purchasing or selling their homes will be their most significant financial transaction they will come across during their life. Therefore, one cannot overstate the importance of such an investment. 

 Buying or selling your home is a process that is very complex and full of decisions. It also has a lot of severe and legal concerns. This is where the role of your lawyer comes in.

The role of a real estate lawyer has two distinct scopes of work.

A lawyer for closing is only responsible for ensuring the property is transferred as per the law.

In contrast, if there is a dispute, then a real estate litigation lawyer is separately retained for dispute resolution only.

What Does A Real Estate Lawyer Do At Closing

The Lawyer for closing is tasked with ensuring that the transaction closes per Ontario laws and regulations. Below is an in-depth summary of the work expected from the lawyer for closing a real estate transaction.

At Shaikh Law, we take care of all the legal responsibilities for such a complex transaction from the initial consultation up to the closing of the property’s transaction and possession; this ensures that our client does not have to worry about any hidden Legal issues buried under extensive paperwork. Our Lawyer will provide 100% support to our clients to protect their interest in the Real Estate Transaction during their purchasing process until our client has become the property’s legal owner.

The following briefly describes what to expect from your North York Real Estate Lawyer while purchasing a home:

1. Your lawyer will review and explain all the legal documents you need to sign and answer any questions you may have during the process.

2. The lawyer will investigate the property’s title (see below) by conducting necessary searches to ensure that the purchaser is protected from property claims and that your interests are safeguarded when dealing with the seller’s lawyer.

3. Your Lawyer will discuss any legal problems affecting the title of your property. Examples of this can include your neighbours’ fence crossing the property line or issues with the condo status certificate. It is your lawyer’s responsibility to provide solutions for such legal problems.

4. Most importantly, your lawyer ensures that the previous owners’ debts, such as a mortgage or unpaid bills, are dealt with before the closing.

5. Your lawyer will review the zoning laws to ensure the property’s intended use is following approved zoning restrictions.

6. Your lawyer will complete the documentation to ensure that the funds will in available for closing and officially transfer the property title in the name of the purchasers at the property registry.

IMPORTANT ASPECTS OF CLOSING A TRANSACTION

Although the above section briefly describes your Lawyer’s role in closing the purchase transaction, the following are key aspects to note of the transaction: 

REVIEW OF AGREEMENT OF PURCHASE AND SALE

The Agreement of Purchase and Sale, or merely the “Agreement,” is an essential document that should contain all the concerns related to purchasing or selling a home. It includes, among other critical items, the property’s price and directions on how to pay, as well as a detailed description of the property and other conditions of the process. The lawyer should thoroughly analyze the Agreement before the buyer signs it, and if the buyer has any questions about the Agreement of purchase, they must ask their lawyer 

New build construction contracts or Agreement require a lawyer’s approval as to the form and content. However, this is not a practice for a resale home. Agreement of Purchase and sale sent to the lawyer after it is signed by the parties, where all conditions to the Agreement are satisfied, has no scope for a lawyer’s review. If this is the case, the lawyer may not help the client but will surely identify any legal issues to protect their interest in the transaction.

TITLE SEARCH

A Title Search reveals the instruments registered against a property. Examples of standard instruments include the Transfer, a Charge, Notices, Bylaws, etc. When purchasing a home, the buyer must know what instruments will be remaining on the home following closing.

Your Lawyer will conduct a Title Search in every transaction. Sometimes the lawyer may have to do multiple title searches to ascertain any liens, charges, mortgages, caveats or notices such as notice for sale or power to purchase by a bank, etc.

Suppose the buyer is acquiring a loan for the transaction. In that case, the lender will necessitate that a lawyer looks at the land records before the transaction’s conclusion and report to the bank any concerns the lawyer may have.

If the buyer is not obtaining a loan, they should still have the lawyer check the records. The Lawyer for closing will:

· Draw up mortgage papers

· Make sure there are no claims registered against the property.

· Evaluate the judgments

· Evaluate the land transference tax due on closing

· Certify that property taxes are up to date

After inspecting all of the above, the lawyer will report to the buyer, the lender, and provide copies of the Land Registry title.

TITLE INSURANCE

Title insurance protects against genetic vulnerabilities in real estate titles, which may not be apparent from the title search. Your Real Estate Lawyer North York cannot guarantee against latent defects in the title that are not registered; hence, these are not easy to discover from a review of the public records.

Such latent defects in the title may include fake deeds, missing inheritors, clerical mistakes, issues with payment of property tax, condo fees, the property’s boundary, etc. A title insurance policy will protect you, the buyer, against such defects.

It is also crucial to note that if you are purchasing a home with a mortgage, your lender will make it a condition for financing to obtain lender title insurance to protect their interest. Simultaneously, the purchaser is also strongly recommended to buy the owner’s title insurance policy.

Suppose a buyer purchases an owner’s policy at the same time as the mandatory lender’s policy. In that case, the title insurance company may give considerable concessions toward the cost of the buyer’s title insurance policy.

Your Lawyer will make the Title Insurance arrangements and confirm you have a legal title upon finalizing the closing. This is to provide peace of mind to the buyer and prevent frustrating and costly situations in the absence of title insurance protection.

Our North York Real Estate Lawyer is registered and on the approved lawyer’s list with leading title insurance companies such as FCT (First Canadian Title) & Stewart Title & Chicago title.

TAX SEARCHES

Your lawyer may also be responsible for acquiring a metropolitan Tax certificate for the property from the town or city where the property is situated; this is done to calculate property taxes. If the seller has overpaid their property taxes, then the amount will be a credit to the seller; if the seller has not paid the property taxes, then a credit is given to the buyer towards their purchase price. The lawyer’s responsibility is to ensure that you only pay property taxes for the number of days you own the property and not for the entire year.

CLOSING THE TRANSACTION

Before the closing date, a final Trust Ledger showing the statement of accounts and the copy of the title, land transfer tax, and other reports will be provided to the buyer by the lawyer; these documents will contain a brief description or detail of monetary aspects regarding the transaction. Along with the final statement, the lawyer will explain many other documents to the buyer, including the details of any mortgages/loans.

The Lawyer for closing is responsible for making arrangements for all necessary closing paperwork, fixing the closing schedule, explaining all essential closing documents and ensuring the documents are all executed correctly.

After the buyer and the seller have completed all the closing documentation, the lawyer will record the title deed, which is how the seller conveys the house’s title to the buyer for the determined price. After that, the lawyer will exchange legal documents and keys with the seller’s lawyer.

At this point, your transaction will be complete. Your Lawyer in North York will complete the necessary reports for your transaction, and, following this, the lawyer’s role in the transaction will come to an end.

ROLE OF YOUR REAL ESTATE LAWYER FOR DISPUTE RESOLUTION 

It is crucial for a client, whether buying or selling a property, to fully understand the scope of work provided by the Lawyer.

Once the transaction has closed, a closing real estate lawyer’s role in the transaction comes to an end. In the vast majority of cases, there are no issues regarding the purchase or sale of a home. Your closing lawyer resolves most problems that arise before the closing date.

In some cases, after closing is complete, issues arise, leading to a dispute between the seller and the buyer, such as the seller damaged the property. 

If these are significant issues, then the parties may need to litigate this matter in court to resolve it. In this instance, your lawyer for the closing would not be retained automatically for this matter as the lawyer’s scope of work only included completing the transaction until the closing.

It is important to stress that it is rare the parties will need to litigate following the closing. If you do require litigation services, you will have to sign a new retainer with a real estate litigation lawyer for this matter. You can choose the same lawyer who closed your transaction, or you may choose a different attorney since each transaction is unique. 

If you do decide that your matter requires post-closing litigations, finding the right lawyer will ensure your rights are protected, and you achieve an appropriate resolution to your matter.

Your Real Estate Litigation Lawyer in North York will discuss your particular matter with you, the strengths and weaknesses, before deciding whether to proceed with litigation. A detailed review of the entire transaction will take place, including a careful review of the Agreement. 

At this point, you will need to decide how to proceed with the litigation. If your matter is a relatively simple matter, you may choose to file a case in small claims court. If you decide to take this approach, your lawyer for dispute resolution can help draft the claim and other documents necessary to commence your case. 

If you find the matter more complex, you may need to retain a lawyer to represent you in a civil action in the Superior Court of Justice of Ontario.

In this case, your lawyer will represent you in all aspects of your matter up until its resolution. It is important to note that, although your lawyer will initially discuss with you the likelihood of a favourable outcome, the lawyer can never guarantee any results. 

Regardless of whether you choose to proceed with a small claim or choose to litigate the matter in the Superior Court of Justice, you will have to sign a separate retainer agreement with your Real Estate Litigation Lawyer for Dispute Resolution. 

Your retainer will state that you will be billed at the lawyer’s hourly rate for the time spent on your matter. On average, a real estate litigation lawyer’s hourly rate for dispute resolution can range from $270 per hour to $450 per hour. Before your matter proceeds, your lawyer will let you know of the approximate cost of representing you. 

However, it is difficult to estimate the total legal costs as the time spent on each case will vary. However, your lawyer will continually keep you updated about the fees and invoice.

North York

Meeting Locations in North York

NORTH YORK LOCATION:

5200 Yonge Street, Suite 200, North York, Ontario, M2N 5P6, Canada

Ph: (905) 795 7757
PH: (647) 812 6938
Fax: (905) 795 1271
E-mail: info@slclawyer.ca