Real Estate Lawyer Toronto

Toronto Real Estate Lawyer

SALE

Legal Fees

$450

PLUS TAXES & DISBURSEMENTS

PURCHASE

Legal Fees

$450

PLUS TAXES & DISBURSEMENTS

REFINANCE

Legal Fees

$450

PLUS TAXES & DISBURSEMENTS

REAL ESTATE LAWYER TORONTO

When you come to our Real Estate Lawyer Toronto, you know that you will be coming to the experts in doing just Real Estate closing. Shaikh Law has been successfully closing Real Estate Transactions for Sale, Purchase, Refinance or a mere Transfer from one person to another person or company. If you are purchasing property then do keep in mind that purchasing a home is one of the biggest decisions and probably the biggest expense most of us will ever embark on. Despite this also being one of the most complex transactions anyone will have to deal with, the idea of using the services of an Experienced Real Estate Lawyer frequently doesn’t occur until something goes wrong.

Various short articles on this page will help you understand why you need to think about using a Good and Experienced Real Estate Lawyer Toronto, Ontario and how it can help you turn a difficult experience into one which is stress-free and which doesn’t cost you more than it should. We will also explain why you should hire a lawyer long before you get to sign on the dotted line.

Our Toronto Real Estate Lawyers have extensive experience in Real Estate Closings. Not only we deal with simple Real Estate Transactions, but we can handle more complicated transactions such as Sale and Purchase on same day, bridge financing, closing by way of western law society protocol, Sale and Purchase by Corporations, Condo Purchases, Rural Properties, New Home purchase from a builder, wills and probate transfer of property, closing by way of Power of Attorney, sale of property if one of the sellers is abroad.

We are proud of our exemplary client satisfaction record who have ranked us among the best local Real Estate Lawyer Toronto. We can handle same-day purchase, sale, refinance and many complex deals including Power of Attorney. All you have to do is give us a call.

HOW MUCH A REAL ESTATE LAWYER COST?

We commonly get this question “How much does a Real Estate Lawyer Cost in Ontario?”. At Shaikh Law, our Real Estate Lawyers in Toronto offer fixed Legal Fees of $450 + Taxes per transaction. Our Fees structure is transparent and is available 24/7 online. Our client can get an online written quote sent out to their inbox within a matter of 5 minutes. Our client may also wish to use our online closing cost calculator to estimate their taxes and disbursements.  On Average total closing cost for a Purchase including one mortgage would be $909 plus taxes and $810 plus Taxes cash purchase, which includes $450 Legal Fees, $180 Disbursements and $180 Searches. Therefore a short answer to “how much does Real Estate Lawyer Cost? would be less than a $1,000 and Max $1,100.

At Shaikh Law, we make full use of technology and online automated client registration system. We request our client to register online at our website or via email and thereafter we use one of the most advance conveyance software in the market. All the documents are registered electronically online and final reports are sent out to the client online as well. We are working on building a virtual automated available online 24/7 for our clients and hope to achieve them in the near future. You can carry your virtual lawyer with you anywhere you like. We request our clients to wish us well in our future endeavors towards high full automation.

It is important to note that what drives up the closing cost is not the Legal Fees but the third party expenses such as Title Insurance and Land Transfer Tax. If the Property is located in Toronto then our clients will be paying not one but two Land Transfer Taxes, one for the Municipality of Toronto and the other for Ontario Province.  We can apply to get the Land Transfer Tax Rebate for our clients if all purchasers are first time home buyers. We can apply to save up to a maximum of $4,000.

Our prospective clients should be mindful of the fact that Fees and disbursements quoted by other Lawyers in Toronto can vary depending on the type of property, whether a condo or  semi-detached or detached single house  as well as property value, for example, most of the lawyer’s online quotes are limited to property value up to $450,000.00 only. They will charge you more legal fees if your property value is higher. At Shaikh Law, we charge fixed $450 + Tax Legal Fees per Transaction.

We provide written quotes to our clients and we encourage our prospective clients to also to obtain written quotes for fees and disbursements and make sure you are fully informed about what services you will receive. The thing to bear in mind above all is that buying a property is not only an expensive and complex issue it is also, for most, something which is done only occasionally. This means there is all the more reason to choose a real estate lawyer in Toronto, Ontario early on in the process and one who will work to protect your interests all the way through. With this in mind remember that Cheapest Real Estate Lawyer Toronto is not necessarily the best option and that hiring a lawyer sooner rather than later in the buying process can help save you time, money and stress.

Purchase

Home Buying Check List

Learn what you need before you contact your Real Estate Lawyer

Survey

Learn What is a building Location Servery, Property Survey

Condo Status Certificate

Learn What is a condo Certificate

Sale

 Seller’s Check List

Learn what you need before you contact your Real Estate Lawyer

Keys on Closing

Find out when you need to drop the keys for your Property

Payment of Sale Proceeds

Find out when you will receive your Sale Proceeds

Real Estate Closing Guide for Purchasers

Services Included in Fees

REVIEW & PREPARATION OF DOCUMENTS

Review Agreement of Sale & Purchase, Offer to Purchase, Draft Sale, Transfer, Mortgage.

SUBMISSION OF DOCUMENTS

Registration of Real Estate Documents Final Reports to Lender and Client.

PAYMENT TO PARTIES

Payment to Seller, Bank or the Credit Union, Land Transfer Tax, Government Charges.

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WHAT DOES A REAL ESTATE LAWYER DO?

Purchasing a property

It is the lawyer’s responsibility to ensure that all the paperwork is correct. A real estate lawyer will usually begin the process by conducting title searches and ensuring that appropriate title insurance has been arranged. It is their job to work on your behalf to make sure that your rights have been protected. They will then register the deeds of a property in your name. In terms of finances, your lawyer will draw up a Statement of Adjustments, which is a list of debits and credits such as deposits and fees which balances out to reveal what you actually owe at the end of the transaction. The lawyer will then arrange for all the finances to be transferred to the correct parties on closing day to ensure that the transaction is successfully completed.

Selling a property

A lawyer will also need to carry out a title search on a property that you are selling to exclude the possibility of defects. They will then draft the deeds for the buyer. As with a purchase, it is the lawyer’s responsibility to draw up a Statement of Adjustments in order to calculate costs. They will then ensure the smooth transfer of funds on closing day and pay you the money you are owed after deducting any amount that is still owed on the mortgage, agent fees, and legal fees.

Refinancing

The process for refinancing begins in the same way, with a search being conducted to exclude defects. The purpose of this search is to protect both you from the owner and the money lender. Once the lawyer is satisfied that the searches are in good order, they will register the adjusted mortgage total and facilitate a transfer of the money. Rather than a Statement of Adjustments, in this case, the lawyer will draft a Trust Ledger Statement as the transactions only take place between you and the lender rather than another vendor or buyer.

UNDERSTANDING THE COSTS INVOLVED IN BUYING AND SELLING A PROPERTY

When you are going through the process of buying or selling a house, you may come across some unfamiliar terms which can seem intimidating. Here, we will try to demystify the jargon so that you feel more in control.

Legal fees

The figure quoted for legal fees is simply the cost of the lawyer’s time. This is either quoted as a flat fee or by the hour. On average, a real estate transaction will be quoted as around three hours work and cost around $500 to $750.

Disbursements

Disbursements are the additional costs that a law firm incurs such as photocopying, faxing and searches with a fee attached. This is essentially your lawyer’s expenses claim. Expect this to cost anywhere between $350 and $450 depending on whether you are buying or selling a property.

Title registration and title insurance

The title registration is a process of transferring the title deeds of a property from one person to another. The title insurance is something different. Title insurance protects you from liability if a previously undiscovered defect is found. This can include encroachment onto a neighboring property, tax arrears or anything else that can affect the title. These things are usually found as part of the lawyer’s searches but can sometimes slip through. The insurance also protects against mortgage fraud, identity theft against and forgery. Registration will cost around $75 and Title insurance is estimated $1 to a $1,000 property value. Example $500,000/- house would cost around $500 in title insurance. This is just a general Guideline, we will provide a copy of the Invoice received from Title Insurance Company to all our client.

Land transfer tax

If you are buying a Property in the City of Toronto, then you would be subjected to two Land Transfer Taxes. First one is an Ontario Land Transfer Tax which is a provincial Land Transfer Tax applicable to all Land Transfers across Ontario. Thereafter you would be subjected to Municipal Land Transfer Tax or also know as Toronto Land Transfer Tax applicable only to property transferred within the City of Toronto. These taxes are calculated as a percentage of the purchase price of the property. We have provided a scale of Land Transfer Tax for Ontario and Toronto for your convenience hereinbelow.

            Toronto Land Transfer Tax or Municipal Land Transfer Tax Effective March 1, 2017

For property containing at least one, and not more than two, single family residences with a consideration value of:

Value of Consideration MLTT Rate
Up to and including $55,000.00 0.5%
$55,000.01 to $250,000.00 1.0%
$250,000.01 to $400,000.00 1.5%
$400,000.01 to $2,000,000.00 2.0%
Over $2,000,000.00 2.5%
Plus  Toronto Land Transfer Tax Administration Fee  of $75 + HST is for processing each $75.00 + HST

For all other non-single family residences with a consideration value of:

Value of Consideration MLTT Rate
Up to and including $55,000.00 0.5%
$55,000.01 to $250,000.00 1.0%
$250,000.01 to $400,000.00 1.5%
Over $400,000.00 2.0%
Plus  Toronto Land Transfer Tax Administration Fee  of $75 + HST is for processing each $75.00 + HST

You can call 311 for Toronto Land Transfer Tax  Monday to Friday 8 a.m. to 6 p.m.

Ontario Land Transfer Tax Effective January 1, 2017

Value of Consideration MLTT Rate
Up to and including $55,000.00 0.5%
$55,000.01 to $250,000.00 1.0%
$250,000.01 to $400,000.00 1.5%
$400,000.01 to $2,000,000.00 2.0%
Amounts exceeding $2,000,000, where the land contains one or two single family residences 2.5%
Plus  Land Transfer Registration Fees  of $75 + HST is for processing each $75.00 + HST

Mortgage costs

Most banks don’t charge a mortgage arrangement fee but there may be a charge of $250-500 for a mortgage appraisal. Also, if you have a deposit of less than 20% or a repayment period of over 25 years, you may be required to take out mortgage default insurance which is payable on a sliding scale depending on the size of your deposit and cost of your home.

The final cost will vary depending on the property and the lawyer that you choose. Someone with more experience and greater expertise will understandably charge more than someone newly qualified. The more complicated a transaction, the more costly it will be as it will involve more chargeable hours, although a firm will usually quote a base fee so that you don’t have a nasty shock when you receive your final bill. As a rule of thumb, you can expect your entire closing costs, including lawyer’s fees to be around 2.5% to 3% of your purchase price.

Now you are aware of what legal costs you’ll be looking at when buying or selling a property, you’ll be in a much better position to go out there and find a lawyer you feel will do a great job for you.

Our Client Testimonials

 

James Anthony

We would like to Thank Ali for his excellent service. He accepted our file on a short notice, prepared all the documents over the weekend, although he did charge us a Rush Fees but it was no where close to what other lawyers were asking us, let alone many lawyers simply would not take the file on such a short notice. He was thorough with documentation and explained to us the entire process. He even came to our house to get the signatures at our request.

Kapil Bali

We did Sale and Purchase with Ali Shaikh and he was very helpful in explaining all the steps involved in the entire process. Sale and Purchase of our properties looked extremely complicated but it was made simply and easy. We met him at 7:30pm after our work and he was happy to get meet us. I would strongly recommend Ali Shaikh for Real Estate Transactions. Good Luck Ali for his new office in Mississauga!

Gary Smith

Ali Shaikh Real Estate Fees are very competitive and reasonable. I was worried about the hidden fees and charges. He clearly indicated at the beginning that in addition to his fees there are other costs involved in a Real Estate closing. He provided me with a break up of expenses. In fact upon closing I even got a refund of excess amount paid to him. Ali is an honest person and I would strongly recommend to meet him.

 

Ken Evans

Ali provided excellent service in all categories representing us for our home refinance. I work in law enforcement and therefore deal with attorneys on a regular basis. Ali definitely stands out as a highly professional lawyer who puts his clients first. Ali and his team of professionals kept close communication with me throughout the process and ensured that I was satisfied with his fees and services rendered. I am highly recommending him to my friends, family and coworkers and anyone in need of his services. Thanks Ali for an outstanding job.

Fatima Butt

Ali and the rest of the staff at Shaikh Law made the legal side of my home purchase stress free. They took care of everything and weren’t satisfied until I was comfortable every step of the way. There are so many unexpected things that come up for a new home buyer so making sure that I had a good lawyer was really important to me.

Frank M

My real estate experience was smooth with Shaikh Law. I filled all the information online, then I just went once to sign all the papers. I got my Sale proceeds deposited into my account. I did not have to do a lot of running around. They are good with technology. I would highly recommend them.

DO YOU NEED A REAL ESTATE LAWYER AT CLOSING?

Yes, certainly you need a Real Estate Lawyer when you are buying a property and you also need a Real Estate Lawyer when selling a Property.  Real Estate Lawyer will handle residential sales and purchases, title transfer, Refinances, moving lenders or paying out creditors, Transfer between Spouse or children, survivorship Application Transfer. Our Lawyers have vast experience includes drafting complex purchase documentation and tailoring forms to meet specific needs. We work collaboratively with your real estate agent and mortgage representative to ensure documents reflect the parties’ interests and agreements.

You will be advised of any potential legal risks that come to light during the process and of how you can protect your interests. You can save significant money in reduced payout penalties when refinancing your mortgage.

Whether you wish to invest in Real Estate or you are buying or you have placed your house for sale through Realtor in Toronto, Mississauga via MLS listing or it is a private sale we can make the transaction a smooth and easy for you.

When you engage our Toronto Real Estate Lawyer s/he will review the Residential Real Estate transaction and can be retained to do the following tasks individually or as part of a Sale, Purchase or Refinance transactions;

  • Receive Mortgage instructions (if applicable).
  • Draft Counter Offer
  • Review Agreement of Purchase and Sale.
  • Lawyer’s approval as to form
  • Perform Title searches.
  • Perform Tax searches.
  • Obtain Tax Certificate if necessary.
  • Identify how the parties wish to be named on the title.
  • Review Condo Status Certificate (if applicable)
  • Identify any issues with the title.
  • We Correspondent with other lawyers.
  • Register Transfer
  • Register Mortgage (if any)
  • Payout and discharge existing mortgage (if any)
  • Pay the client.
  • Pay the vendor.
  • Pay the Lender (if required).
  • Obtain Extension of possession date.
  • Provide final reports to Lender and Parties
  • Comply with the Law Society regulations and requirements.
  • Obtain title Insurance.
  • Explain the legal terms of the Agreement of Sale And Purchase to the client
  • Identify any legal defects.
  • Explain all other legal documents involved in the Residential Real Estate Transaction.

HOW TO FIND A REAL ESTATE LAWYER IN TORONTO

The most reliable way to find a Real Estate Lawyer is to ask around among your friends and family. Find out if they know someone knows a good real estate lawyer who did their closing without an issues. Secondly, you should go online and do some research to find a list of Real Estate Lawyer near you.

WHAT TO ASK A REAL ESTATE LAWYER

You should be looking to ask the following questions from a Real Estate Lawyer.

Question: How much is your Experience in Real Estate
Answer: We deal with hundreds of files every month  and have been in practice since 2013

Question: How much is your Legal Fees and Disbursements.
Answer: All our Legal Fees and Disbursements as mentioned on our website. We are transparent about our Legal Fees and Disbursements.

Question: Is there any amount that his not included which you would be expected to pay at the time of closing.
Answer: Land Transfer Tax, Registration of Title, Mortgage, Taxes and Title Insurance is not included.  

Question: Can you assist us, After Office Hours.
Answer: We can meet clients after office hours. We are always ready to accommodate client’s needs.

Question: Will there by anyone else working on your file.
Answer: Yes Real Estate Legal Assistant will be working on the file to prepare all documents and will be responsible for most of the correspondence.

Question: Can the Lawyer accept the file on short notice.
Answer: Yes we can accept files on short notice (less than a week) but due to large work-load it is best to call before you fill our online registration form.

Question: What information you should send to the Broker, Realtor & Bank

Answer: You would need to send Email: info@slclawyer.ca,  Fax (289) 904 0320 and Name is Shaikh Law Corporation

CAN A REAL ESTATE LAWYER REPRESENT BUYER AND SELLER BOTH?

Generally speaking NO, an individual Real Estate Lawyer cannot and should not represent both seller and buyer but the Same Office with two Lawyers can represent both buyer and seller.

First Time Home Buyer? No Problem !

As a Frist Time home buyer, you may have several questions about the process. We want to assure our Real Estate clients that they just need to be focused on their dreams of buying a home and we will look after the rest. We provide Free 30 minutes Consultation to our client to help them understand the entire Real Estate Process.

Our Real Estate Lawyer Toronto, Mississauga, Brampton can help first time home buyers to claim up to $4,000/- in Ontario Land Transfer Tax and if the property is located in Toronto then we can also claim the refund up to $3,725/– towards Toronto Municipal Land Transfer Tax.

Tax Tips : First Time Home Buyer

FEDERAL TAX CREDIT

$2,000

Eligibility: 1) Property must be located within Canada, 2) You have not lived in a home owned by you or your common law partner in the year you bought it or in past four years.

RRSP WITHDRAWAL

$20,000

Each spouse or common law partner can withdraw up to $20,000/- tax free in a calendar year, if neither of them have occupied  a home owned by either of them and the property is located in Canada

LAND TRANSFER TAX CREDIT

$7,725/-

Eligibility: Both spouses or common law partners never owned a home anywhere in the world & must occupy the property as their primary residence within 9 months from date of transfer.

Our Success Rate

Skill & Knowledge
98.6%
Real Estate Law Experience
99%
Deal Closed - 9,270
9,270
  • Flat Fees Guarantee

    Our Flat Fees includes our Fixed Professional Fees and all Legal Disbursements, excluding, Land Transfer Tax, Title Insurance and Property Registration Fees.

  • Home Signing Facility

    You do not have to come to us. We will come to you at home, at work or at a place of your convenience, within Southern Ontario. We are also available on evenings and weekends. 

  • 100% Lowest Fees Gurantee

    We pride ourself to state that if you can get a better written quote for legal fees, we will match it by 10% 

Real Estate Investment

A basic human need is having a roof over your head, and with the growing population in cities such as Ontario, it means that there is more opportunity for real estate investments. Real estate is still one of the most lucrative forms of investments that you can invest in, this is partially due to the increasingly large demands of rental properties regardless of inflation, an influx of immigrants arriving in Canada, weather, Multi-culturalism, a nest a several large cities and head offices of International Corporation. Although many are aware of the opportunities in real estate it appears as though people are still skeptical about capitalizing and becoming a real estate millionaire.

As the years have passed we have seen the birth of many real estate millionaires such as Robert Kiyosaki who wrote the top seller ‘Rich Dad Poor Dad’. Throughout the book Robert demonstrates simple steps of investing in real estate, and renting it out to tenants. As a result of renting out a property, he shares how passive income is gained while property value increases by doing nothing except your initial investment.

Passive income is a steady and more predictable source of income compared to investing in other businesses. In addition to gaining passive income from real estate investments, you are also made exempt from self-employment tax. Furthermore, the government offers tax benefits including reduction and significantly lower tax rates for long-term profits. These findings alone demonstrate the benefits of investing in real estate.

In all that being said, there are risks involved in real estate investment, as there are with all types of investments. However, there are many ways in which risk can be reduced, one of them being, hiring an experienced Real Estate Lawyer, such as those found at Shaikh Law, who have extensive knowledge on Real Estate Closings. Our Real Estate Lawyer Toronto Downtown, Mississauga Square One, Brampton, Oakville, Etobicoke, endeavor to ensure they review your Real Estate Purchase, Sale or refinance documents thoroughly so to protect your investment in Real Estate and to avoid lawsuits being sent your way. Additionally, they can maximize your profit by helping you understand your return on investment, ensuring that you make the maximum profit possible on each investment.

At shaikh law, we have the necessary experience and expertise to help our client build their real estate investment. We make sure the process is smooth and efficient.

Discount on Legal Fees

Get 10% off Legal Fees on your second Transaction

Client Service

At Shaikh law, we are dedicated to providing the highest quality of Real Estate Legal Service in Greater Toronto Area.  We provide the skillful representation you need during the process of sale, purchase, mortgage or refinance.

Our use of cutting-edge technology means that you can achieve stress-free purchase or sale of a property in a quick time with least amount of hassle. We have the necessary expertise and resources to guide you through the process of Selling, Buying or Refinancing, your home. We are dedicated to achieving excellence in the field of Real Estate.

Office Location

Toronto Bay Street

161 Bay Street,
27th Floor, Brook Field Place

Toronot M5J 2T2

Phone: 855 453 4440
Secondary phone: 647207 3309
Fax: 289 904 0320

If you are searching online to find a “Real Estate Lawyer near me”  then click here to find a Real Estate Lawyer closest to you. You just have to enter your address and we will find a Real Estate Lawyer nearest to you. Our Real Estate Lawyer can help you with your residential Purchase, Sale and Refinance. If you are looking for Real Estate Lawyer Toronto, Real Estate Lawyer Mississauga, Real Estate Lawyer Brampton, Real Estate Lawyer Oakville, Real Estate Lawyer Hamilton, Real Estate Lawyer Fees, Real Estate Closing FAQ, Can a Real Estate Lawyer Represent both Seller and Buyer?  RRSP Home Buyers Program,  Home Buying Checklist, Real Estate Closing Guide for Purchasers, we have the answers to your questions. Please take the time to browse our website.

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