Real Estate Closing
Terms & Conditions of Retainer
Thank you very much for your interest and confidence in retaining our law firm to represent you with respect to Real Estate Transactions.
We know that this matter is extremely important to you, and we intend to make every effort to achieve the goals sought by you.
Please do not hesitate to contact our office at any time if you have any questions as the transaction progresses. We shall be scheduling a meeting shortly before the closing date to review and sign the closing documents.
Please take the time to review this retainer agreement thoroughly. If you do not understand any of the terms or language, please contact us, and we will gladly explain any questions you may have. The following are the terms and conditions of our retaining services for the matter you have selected. Upon submitting our online intake form, you are accepting our terms and conditions for a retainer. You have 24 hours to terminate our retainer agreement before it becomes binding. We have also posted the terms and conditions on our website for your review. We are proud to state that we are transparent in our dealing and ensure that our clients are fully informed about the entire process.
Terms & Conditions
The following Terms and Conditions form a binding agreement between the Client and SHAIKH LAW FIRM (Registered as Shaikh Law Professional Corporation). This Agreement confirms that you have retained the Legal Services of SHAIKH LAW FIRM to represent you about your real estate transaction and establishes a solicitor and client relations between the lawyer working on your file yourself. You hereby further confirm by way of this Agreement that Shaikh Law Firm, through its Lawyers and or officers, staff, or agents, will represent you before all forums, departments and act on your behalf in relation to your selected matter hereinbelow.
Our real estate lawyer fee is posted on our website, please click here to review our up-to-date legal fees structure. Our all-inclusive Flat Legal Fee 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).
Statement of Account or Invoice
Our statement of Account and transaction statement will be provided to our client to explain details of all payments made on their behalf and our fees charged.
Rush Fees & Change in Information Fees $450
If mortgage instructions are received less than seven days from the closing date, Rush Fees of $450 + Tax would apply. If the Client has changed lenders or requires any change in information, then a change in information Fee of $450 + Tax would apply.
Additional Fees (If applicable)
Our Law Firm reserves the right and discretion to charge additional fees in the event of additional services rendered. The fee quoted on our website is subject to a standard transaction and within the scope of work mentioned hereinabove. An example of a typical transaction would be where only one registration or transfer and one registration of a mortgage or sale only one discharge of mortgage, is required. Should there be an additional payout in the sale or refinance an additional Legal Fee of $63 + Tax plus applicable government charges (if any). Additional charges would apply for weekend and after-hours appointments; please contact our office if you wish to have such charges waived. Additional charges may apply based on the nature, importance, and urgency of the matters involved, the case’s general conduct, the dollar amount at issue, the skill, labor, and responsibility involved, and if a particularly beneficial result is achieved on your behalf. If there is a complication in your file, please contact our office to waive additional fees. Additional Legal Fees of $450 + Tax per extension will apply if either party requests an extension. Additional legal fees of $450 + Tax would apply for redrafting documents, change of lender, or any form of complication in a file or which is beyond the scope of work described hereinabove. Please contact our office to waive these fees. Additional Fees of $450 + Tax will apply if our office is expected to negotiate the purchase price or negotiate a holdback due to the vendor’s not fulfilling their obligations under the Agreement. We would consider a request to waive additional fees within reasonable circumstances.
Scope of Work
Our Real Estate Legal Fees include the following services rendered by our office:
TO receipt of instructions for sale/purchase/mortgage; TO make one title search or one parcel page search, any additional parcel page search will be charged separately at $63+ Tax per search(if required) and two execution searches are included, additional execution search will be charged separately $63 + Tax; TO ascertaining how the purchasers wished to be described on title; TO preparation of the Transfer of Land; TO preparation of the Statement of Adjustments; TO determining the manner in which sale proceeds should be disbursed; TO attendance on execution of all relevant documents; TO receiving/forwarding the Transfer of Land and Statement of Adjustments to the Solicitors for the Purchasers or vendor; TO correspondence with the mortgagee prior to closing and to obtaining a statement for discharge purposes with respect to the previous mortgage; TO delivering discharge/sale funds forthwith after closing in accordance with the said statement; TO seeing to registration of the discharge and to obtaining a Certificate of Title and providing same to the purchasers’ solicitor; TO receipt of the cash balance required to close and depositing the same into our trust account; TO authorizing the release of keys for the premises; TO advising the real estate agent of the completion of the transaction and paying the balance of commission owing; TO all other related correspondence and communications and reporting to you herewith; TO acting for you with respect to a single or multiple mortgage(s); TO receiving and reviewing mortgage instructions; TO preparation of the Mortgage, direction and other necessary documents; TO all correspondence with the mortgagee and submitting a preliminary report; TO registering the Mortgage; TO receiving the mortgage advance into our trust account; TO submitting a final report to the mortgagee enclosing the required documentation & To do all acts that are deemed necessary as per the requirements of the Law Society governing the concerned office for completion of a Real Estate File, One Signing Appointment, Sale & Refinance File One Mortgage Payout included , Printing, Faxes, Courier Charges are included.
Termination of Legal Services
By Client: As a client, you have the right to terminate our services upon written notice to our Law Firm by way of an email, subject to payment of full legal fees for services rendered. The file can be terminated without paying any fees if we have not started work on your file. We commence work on a file within 24 hours of registration at our website. If we have commenced work on your file, then the client will be billed for the services rendered in full as per the legal fees posted on our website, plus applicable additional fees for any complication.
By Law Firm: We reserve the right, subject to maintaining a proper standard of professional conduct, to terminate our services upon written notice to the Client through the email provided in the client intake form. Some but not examples of reasons to terminate the contract are listed below:
- If the Client fails to co-operate with the Law Firm or its staff at any given time.
- If the client acts or omissions are unethical and impractical.
- If the Client makes false, misleading, or dishonest statements.
- If the Client exhibits improper behavior or aggression.
- If any fees are not paid to the Firm despite repeated requests;
- If there is any conflict of interest that would render our representation unethical to continue.
Taxes & HST
In addition to our fees and disbursements, you will be required to pay all applicable taxes required on the date of closing.
Duty of Client
As for the Sale & Refinance file, you are responsible for ensuring that you provide our office with all required information and documents at least one week in advance, including your mortgage statements, proof of last tax payment. It shall be the Client’s responsibility to ensure that your lender has sent mortgage instructions at least one week in advance. If our office does not receive complete information a week before closing, we may charge additional fees for rush closing fees of $450 + Tax. It is the Client’s responsibility to provide our office with full, complete, and accurate disclosure of information, thereby to enable our office to prepare accurate Real Estate documents.