Real Estate Lawyer Toronto

Sale | Purchase | Refinance | Title Transfer

Real Estate Lawyer Toronto

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 in downtown Toronto has the experience, knowledge and expertise to help our client with a range of real estate transactions. Real estate lawyer Toronto fees structure and closing cost are transparent, and there are no hidden charges or surprises.

When you come to our Toronto Real Estate Lawyer, you know that you will be coming to an experienced lawyer in Toronto, 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 are fluent in English, Hindi, Punjabi, Urdu and Gujrati.

 

real estate lawyer toronto

Real Estate Lawyer Toronto Fees

Toronto real estate lawyers cost between $450 to $1500 for buying or selling a house depending upon the complexity of all the legal paperwork.

Some lawyers in Toronto charge an hourly rate between $150 to $350 an hour and disbursements.

At Shaikh Law, our Lawyers in Toronto charge fixed legal fees for closing a residential real estate transaction. We have a transparent legal fee structure without any hidden charges or costs. 

Purchase

$999 + HST

Sale

$900 + HST

Refinance

$900 + HST

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.

Lawyer Fees For Purchase

Our Real Estate Lawyer Toronto 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. 

REAL ESTATE LAWYER TORONTO FEES FOR BUYING INCLUDES;

  • 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;
  • Help the client with all move-related tasks;
  • Assist clients to update government identification, change the address & redirect mail
  • Help clients to discipline their move under one window operation. 
  •  hire movers or rent a truck & transfer your Utlaizities and home services
  • Offer personal concierge service for all move-related tasks;

REAL ESTATE LAWYER TORONTO FEES DOES NOT INCLUDE;

  • Land Transfer Tax; 
  • Title Insurance; (As Per Invoice)
  • Registration Cost per Transfer or per Mortgage $78;
  • 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 Toronto Fees for Selling a property is $900 + Tax. 

REAL ESTATE LAWYER TORONTO FEES FOR SELLING INCLUDES;

  • 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;
  • Help the client with all move-related tasks;
  • Assist clients to update government identification, change the address & redirect mail
  • Help clients to discipline their move under one window operation. 
  •  hire movers or rent a truck & transfer your Utlaizities and home services
  • Offer personal concierge service for all move-related tasks;

REAL ESTATE LAWYER TORONTO FEES FOR SELLING DOES NOT INCLUDE;

  • Law Society Levy $65;
  • 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.

REAL ESTATE LAWYER TORONTO FEES FOR REFINANCING INCLUDES;

  • One Mortgage Payout or Any other payout;
  • Bank Charges, including Two Certification of Cheques;
  • Printing, Courier Charges;
  • Phone & Fax charges.
  • File Opening Charges;
  • Securing Title Insurance;
  • One Appointment/ Mobile Signing;
  • After Office Hours Appointment;
  • Help the client with all move-related tasks;
  • Assist clients to update government identification, change the address & redirect mail
  • Guide client on how to 
  •  hire movers or rent a truck & transfer your Utlaizities and home services
  • Offer personal concierge service for all move-related tasks;

REAL ESTATE LAWYER TORONTO FEES FOR REFINANCING DOES NOT INCLUDE;

  • Title Insurance;
  • Government Registration cost per mortgage $78;
  • Law Society Levy $65;
  • Software Charges $ 171 + HST ;
  • Online Mortgage Instructions Bank Charge $28.25 (If applicable);
  • Per additional Payout $63 + Tax (If applicable).
cheapest real estate lawyer fees

Interim Closing (Condo Only)

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

Closing Cost Calculator

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Why We Are Different

real estate lawyer downtown toronto fees

Online Real Estate Lawyer Toronto

At Shaikh Law, we believe in providing cost-effective and efficient real estate services to clients. Therefore we have introduced online real estate services for the residents of Toronto 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 has maintained competitive fees by ensuring 99% of online legal services. Our authorized representative must meet with you only once to witness your signatures and verify your original IDs.

Role of a Toronto 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 downtown Toronto 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 Downtown Toronto 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 Agreements 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.

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

Suppose the buyer is not obtaining a loan. In that case, their real estate lawyer in downtown Toronto will conduct title searches, review title transfer documents from the seller, and make sure no claims are registered against the property.

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 downtown Toronto 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 downtown Toronto 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 Toronto 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. 

Real Estate Litigation Lawyer 

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 Toronto 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. In this situation, your lawyer for dispute resolution can help draft the claim and other documents necessary to commence your case. 

As for complex matters, you may need to retain a real estate litigation 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.

 

FAQ

Purchase

Yes, you need a real estate lawyer to buy a house in Toronto. A real estate sale or purchase transaction cannot be completed without hiring a real estate lawyer in Toronto.

Once you have decided to buy, you need to make an offer to purchase by sending a draft agreement of purchase and sale to the vendor.

If the seller accepts the offer with or without conditions, you need to retain a downtown Toronto real estate lawyer to complete the transaction.

Generally speaking, one lawyer cannot represent both parties in a real estate transaction in Ontario. Only in exceptional and limited circumstances, one lawyer is permitted to represent both parties, for example where the transferor and the transferee are the same but the legal status of the property is to be changed such as severance of land.

We have a detailed article on this topic “Can a Real Estate Lawyer Represent both buyer and seller” Click Here.

Under the Ontario New Home Warranties Plan Act and Regulations, the Ontario government established a private corporation called Tarion in 1976 to protect the right homeowner’s owners by regulating builders. The warranty covers deposits made as a down payment made to the builder.

The warrant also covers if in the event the builder delays the closing without giving proper notice. After you move into the property, you can opt for one, two year and seven-year warranties.

First-year Tarion warranty covers defects in material, unauthorized change in construction or finishing, such as colours and styles, code violations.

Two-year Tarion Coverage includes water penetration to basement or foundation walls, windows, doors, plumbing, electrical, heating systems, and exterior work damage.

Seven-year Tarion Coverage includes major structural defects to the property such as damage to load-bearing walls or beams.

Click Here to Learn More.

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 propertyy tax bill.

Yes, Home Insurance or Fire Insurance is required when you are purchasing 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 info@slclawyer.ca

No, you do not need a home inspection before buying a property in Toronto but it is highly recommended to get a home inspection.

Ideally, it should be a pre-condition before the Agreement of sale and purchase becomes binding. The inspection report will reflect if the property meets the building and zoning laws. The inspection may not reflect hidden defects since it is a visual inspection of the property, such as plumbing, foundation, electrical wiring, ventilation, and roof conditions, to name a few items. A home inspection cost may range from $300 to $600, depending on the property’s shape and size. 

The Police maintain a list of marijuana grow operations, but there is no public database of suicides, murders or other crimes.

A seller must disclose if a grow op when:

    1. there is an actual material latent defect of which the seller knows or ought to have known;
    2. the buyer asks a specific question or expresses a specific concern;
    3. the Agreement of Purchase and Sale contains representations that the property was not used as a grow op or for criminal activity; or
    4. there is some statutory and or regulatory requirement for such disclosure to be made.

As a buyer, you should ask as many questions as possible and complete due diligence on the property prior to signing the Purchase and Sale Agreement. Signs are difficult to spot; it is recommended to get a home inspection done and get it in writing from the seller that the property was not used as a grow op. 

Check  RECO website for Signs of Grow Ops

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 your outstanding tax bill. The property tax adjustment is calculated in the Statement of Adjustments.

SALE & REFINANCE

Funds are normally received by our client within 1 to 2 business days following your closing. You would have to collect your certified cheque from our Head Office. Please contact SHAIKH LAW FIRM directly to make any revisions to your delivery options.

We can also direct deposit the certified cheque into the client’s account at their request.

Theoretically yes, it is.  Suppose you can find a lender who will let you have the money, regardless of the fact that with your current mortgage you are underwater. In that case, your lawyer will need to follow instructions from the new lender and complete the loan transaction accordingly.

With regards to a refinance transaction the “closing costs” apart from legal fees, there would be Title Insurance and Government Registration.  Our Legal Fees include law office disbursements, whereas other lawyers may charge disbursements on top of legal fees. 

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 us.

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.

TITLE INSURANCE

In Toronto, real estate lawyers acting for purchasers are required as part of their responsibilities to advise their clients about their options concerning the title to their property. 

A property title is a legal document describing the property and confirming your ownership. Therefore title insurance is an insurance policy to protect ownership/title of the property.

No, you do not have to take title insurance if you are purchasing a property in Ontario. A purchaser can obtain either a lawyer’s opinion as to title or get title insurance to protect their ownership of the property.

 However, it is always a mortgage condition to obtain title insurance for a purchase with a mortgage.

A lawyer’s opinion on the title is based on title and off-title searches, a review of an up-to-date survey showing the buildings and boundaries’ location and any additional information provided to the lawyer. 

The opinion letter can not protect against title fraud, and title searches are can only go up limited numbers of years. The cost to get an update survey and title and off title searches could be significantly higher than ordering title insurance.

What are the keys benefits of Title Insurance?

 A policy of title insurance will ensure the client against losses resulting from various matters, including the essential matters such as:

  1. The client’s title is defective or unmarketable because of someone else’s interest in the client’s title.
  2. Outstanding liens, work orders or encumbrances.
  3. Realty tax arrears. 
  4. There is also coverage for many survey related matters, including encroachments (other than fences and boundary walls) and violations of municipal set back requirements. With certain exceptions, such as for post-policy date title fraud, coverage for losses applies to the extent that these matters exist as of the policy date (being the date client’s Transfer is registered) but unknown to the client at that time.
  5. Most lenders will accept title insurance policy instead of an up to date survey (which is often required by a lender), therefore, saving the client the cost of obtaining a new survey.
  6. coverage for loss or damage arising from many forms of title fraud;
  7. a no-fault claims process such that clients do not have to demonstrate negligence to make a claim.

Title insurance does not cover defects known before closing the transaction (such as adverse circumstances disclosed in a home inspection report or seller property information statement). The client may have agreed to in the client’s Agreement of Purchase Sale. All policies are subject to exclusions and exceptions, including but not necessarily limited to environmental matters and native land claims.

No, Home Insurance and Title Insurance are two different types of insurances. Title Insurance protects your title or ownership rights of the property, for example, a claim due to title fraud, whereas Home insurance protects your property, for example, damage from fire.

CLOSING COSTS

Closing costs’ is the term used to refer to the expenses and legal fees required to be paid on closing. This might refer to the closing adjustments like prepaid property taxes, legal fees etc. 

Closing Costs when buying a property. 

  1. Land Transfer Tax Ontario
  2. Real Estate Lawyer Toronto Fees
  3. Real Estate Law office disbursements
  4. Title Insurance 
  5. Provincial Sales Tax (PST) on CMHC mortgages Insurance.
  6. Fire Insurance
  7. Registration of Transfer $78 & Mortgage $78
  8. Stewart Assyst Charge $28.30 (Applicable only if mortgage instructions are sent electronically to the lawyer)
  9. Bank Charges

Click Here to Learn More About Closing Cost when buying a house.

The purchaser’s responsibility is to pay any closing costs, and it is paid at the point of closing. Closing costs is added to the purchase price.
For example, the balance purchase price is $500,000/- and your closing cost is $4,500, then this is the amount that will be added to the amount that is payable to the real estate lawyer at the time of closing.
This amount will be distributed to the relevant parties by your real estate lawyer downtown Toronto on the date of closing. The amount will also include any legal fees and disbursements owed to your lawyer. Your lawyer from the closing costs will also pay Land transfer taxes

Depending on the type of transaction, closing costs will vary from resale purchase to a builder purchase. Builder purchase closing costs are higher because, in addition to standard closing costs, the statement adjustment includes additional expenses such as: 

  1. Tarion warranty.
  2. Development Charges & Upgrades.
  3. Paving of driveways & trees planted.
  4. Property tax adjustment,
  5. Interim Closing Legal Fees and Interim Occupany Fees (Condo Only)
  6. Extension fees
  7. NSF Fees for cheques deposited(if there are any),
  8. Installation and connection fees for meters etc.
  9. Unpaid interest (Condo Only) 

When it comes to condos, interim closing legal fees, interim closing occupancy fees, unpaid interest on the balance to pay for closing is an additional cost. Property taxes are prepaid on an estimated basis only since the property is newly built. The fuel oil tank (if there is one) and two months of prepaid maintenance added to closing costs for a new built. Don’t forget the seller’s lawyer fees and disbursement added in the statement of adjustments as closing costs for a new build.

 In the case of a resale home, there will be none of these costs.

Closing costs is a loose term used to cover a wide variety of costs, expenses, and for this reason, it will depend on whom you are asking? If you were to ask an owner, he/she might include the cost of moving, whereas this is not the actual closing cost. A closing cost when selling a house includes:

  1. Realtor’s commission
  2. Real Estate Lawyer downtown Toronto Fees for sale
  3. Real Estate Law office disbursements
  4. Law Society Levy & Mortgage Payouts

Click Here to Learn More About Closing Cost.

The average closing cost on a property in Ontario can range from 1.5% to 4% of the property purchase price. This cost is to be paid by the date of closing.

In addition to standard closing costs, some optional closing costs may apply when buying a house in Toronto. 

  1. Appraisal Fees. The bank charges this fee at the time of mortgage approval, usually between $300 to $400 for residential properties.
  2. Home Inspection. We recommend getting a home inspection before buying a property; it may cost between $300 to $600. 
  3. Property Insurance or Fire Insurance. When you buy a property, you need to get fire insurance for your home and its contents. 
  4. Utility Bills and Property Taxes Prepaid. If the seller has already prepaid utility bills or property taxes, the buyer would have to reimburse the seller at closing. 
  5. Moving Cost. Although this is not the official closing cost as far as a real estate lawyer is concerned. Despite the fact, the purchaser will incur expenses related to moving. 

It does not matter whether you are using a mortgage to purchase a property or paying with cash; the closing costs will remain the same. The only cost that may alter is the one that relates to lawyer legal fees. We charge $999 + HST for a cash purchase. 

Visit our Closing Cost Calculator Page to calculate total closing costs. 

CLICK HERE

GENERAL QUESTIONS

On the date of closing, we will email you a copy of the transfer and mortgage (if applicable) and advise you that the keys are ready for pick up. Our final report, including all the documents signed, such as title insurance, statement of adjustments, trust ledger, will be available for pick up within two to three weeks from the date of closing.

We recommend you bring the closing costs to amount a day or two before. You cannot deposit closing costs earlier because we may not have received complete information in your purchase file. As a result, we cannot give a specific closing amount to clients.

Suppose you are purchasing with a mortgage. Then, in addition to your deposit made at the time of the offer to purchase, you need to make arrangements for your legal fees, land transfer tax, title insurance, government registration cost, plus any shortfall towards your downpayment.

We cannot give you a specific amount until we have received a statement of adjustments from the seller’s lawyer and mortgage instructions. Both sets of documents arrive a few days before closing. In some cases, a few hours before closing. Therefore, we cannot give a specific amount until all documentation is complete.

Yes,  our client can sign documents online. We use specialized software for document signing. In case of a sale or refinance we may need to meet you in person for few minutes to verify your Ids and signatures in person. 

As per our Law Firm practice, all keys pick are to be picked up at our Head Office in Mississauga.

It is a common practice to collect the keys from the lockbox located at the property, after closing. 

 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 info@slclawyer.ca

No. We cannot accept payments by way of credit cards, since all funds are deposited in our Trust account.

We require two pieces of Valid Identification. The identification document must be authentic, valid, current, legible and in good condition. As per our Law Office practice, if you are not an existing client, we may need to verify originals’ ids and signatures in person.

List Acceptable Forms of Identification

  • Driver’s Licence1 (issued by a Canadian Province/Territory/DND).
  • Canadian Passport.
  • Nexus or CANPASS Card.
  • Firearms Licence (Issued by the Government of Canada).
  • Canadian Armed Forces Identification Card (Issued by the Government of Canada).
  • Canadian Citizenship Card (with photo issued prior to 2012)
  • Permanent Resident Card (Issued by the Government of Canada).
  • Secure Certificate of Indian Status (issued by the Government of Canada).
  • Provincial/Territorial Government issued Identity Card (with photo)

NOTE
In Ontario,  Health Card is NOT an acceptable form of identification.

Yes, we usually send a draft set of documents ready for signatures a day before our appointment. Please take the time to check the name spelling and registration status—Example Joint Tenants or Tenants in Common.

Please do not be alarmed if you do not understand that legal jargon.

At the time of our appointment, one of our real estate lawyers in Toronto will discuss all documents before you sign the documents.

Toronto Residents

Meeting Location in Toronto Downtown
We offer free home signing and have multiple meeting locations across the Greater Toronto Area, including one located in downtown Toronto’s heart at Bay Street, next to Union Station. Shaikh Law Firm -Toronto Downtown Branch meeting location can be booked by our clients for an appointment. 

ADDRESS:

TD Canada Trust Tower, 161 Bay St 27th Floor,
Toronto, ON M5J 2S1

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