The real estate market in Toronto can be a tough place, and now it's closer than ever to being a "buyer's market" once again, bouncing off the 24% increase in listings nationwide.
If you want to take advantage of the influx of available homes, you have to be on top of your game as a buyer, and this can make the process extremely overwhelming. Fortunately, hiring a real estate law firm in Toronto will make your purchase smooth sailing.
Read on to learn everything you need to know about the role of a real estate lawyer in Toronto's property market.
What Does a Real Estate Lawyer Do to Help Buyers?
As a home buyer, you've been preparing for years to make one of the most significant, life-altering transactions of your lifetime. As such, you must ensure the process goes as smoothly as possible.
Legal documents are the biggest component of this, but they're complex if you're not familiar with them. Not to mention, trying to find your own legal forms online to "DIY" your purchase can lead to long-term problems.
A real estate lawyer can help you with all aspects of the purchase, such as:
Ensuring there are no claims against the property
Reviewing the agreement for purchase
Ensuring your title is valid when closing
Drawing up all mortgage documents
Ensuring all property taxes are up to date
Calculating land transfer tax due at closing
Arranging title insurance
You can also depend on your real estate lawyer to exchange keys and legal documents with the seller, ensuring it's an easy process.
Why Do You Need a Real Estate Lawyer?
You'll need a real estate lawyer anytime you're buying or selling a home to protect your rights.
The real estate industry can be like diving into murky waters, and a real estate attorney will make sure all parties are adhering to the terms of your agreement.
Legal jargon is complex and challenging to comprehend. Your lawyer will explain everything to you in terms you understand.
They can also help you with any disputes that occur during the process.
How to Find a Real Estate Lawyer in Toronto
Finding a real estate attorney can be overwhelming initially, but taking the time to do some research will make the process much easier.
One of the simplest ways to begin your research is by asking family and friends about the attorneys they have experience with. Chances are, you'll get some solid leads this way.
Most lawyers offer a free consultation, so take advantage of this before hiring a lawyer. This will give you the chance to ask questions about local laws and their overall experience.
Hire a Real Estate Law Firm in Toronto Today
Now you can take the next steps and hire a real estate law firm in Toronto to help you with your real estate transactions.
You can turn to Picov & Kleinberg Law for all your needs. We've been helping people since 1978, using innovative legal solutions to help our clients succeed in reaching their goals.
Our lawyers are experts in real estate law and can find the hidden obstacles many home buyers can face. We'll ensure that buying your new home is as stress-free as possible.
Make sure to contact us today to schedule a free, no-obligation consultation.