Real estate lawyers specialise in real estate transactions, property claims and land disputes. They assist real estate and property sellers and buyers by guiding them through the purchase or sale process and facilitate the transactions on their behalf. They also provide answers to any question their client has concerning the legal aspects of their transactions. Real Estate lawyers offer a wide range of real estate legal services including organising counselling sections for their clients, finalizing documents and paperwork, discussing and finalizing the terms and conditions of the transactions. If you plan on buying a home or engaging in real estate transactions, then you need the help of an experienced real estate lawyer to assist you through the process. Real estate lawyer Scarborough have adequate experience in residential and commercial real estate transactions. Matters related to real estate, sale of properties, property investments, construction contracts and financing and development requires expertise. Generally, skilled real estate lawyers know the business concerns and objectives of their clients and are prepared to work to achieve these objectives.

Real estate lawyers provide their services to individuals, companies and organisations. Any company that wishes to hire a real estate lawyer must carefully ensure the lawyer is a thorough professional and is faithful to the objectives of the business. The lawyer should also be able to represent the company legally and in a respectful way. Companies and organisations should also ensure that their choice of real estate lawyer has gained much experience and the best training in handling the company’s transactions.  Experienced real estate lawyers prepare contracts to favour their clients. They also conduct title searches to ensure there are no claims against the real estate their clients want to buy. This is usually done to ensure the transaction is completed in a hassle-free and secure manner.

Real estate lawyers practice in accordance with the real estate law of the city or province the property is located in. They also handle the sale and purchase of residential and commercial real estate, condominium apartments, leases and assignments of sub-leases, co-operative homes and apartments, and many more. Real estate lawyers also handle litigation involving real estate with insurance companies, building contractors, banks, landlord-tenant litigation and architects. These lawyers also handle works to settle disputes concerning materials, budget, craftsmanship and other issues of concern. In addition to this, these lawyers can handle building and remodelling agreements.

Categories of Real Estate Lawyers

Real estate lawyers can be divided into two categories. They are:

1. Transactional lawyers. These types of lawyers mainly deal with contracts and agreements involving real estate.
2. Litigation lawyers – litigation lawyers principally work on lawsuits involving real estates.

In  Ontario, before hiring the services of a real estate lawyer Markham, you should be sure of the exact type of lawyer you need. Real estate lawyers assist their clients in drawing up lease agreements based on the real estate law when leasing the property, and representing them if any form of dispute between landlords and tenants arise. You are required to sign up a Promissory Note when purchasing a real estate property so it is important to make sure your real estate lawyer is present.
Role of a Real Estate lawyer

Important roles of a real estate lawyer include:

1. Carrying out a search of execution to ensure that no executions have been made against the owners of the property that might possibly affect the affect the title.
2. Preparing and delivering a letter to the seller’s lawyer to request that any matter revealed in the original searches will be dealt with on or before closing.
3. Reviewing the contents of the Mortgage Commitment letter the bank prepares when the financing is arranged and discussing the results of signing it with you.
4. Advising you on any cost related to the refinancing of the Mortgage prior to the closing day and the costs when your bank or financial institution gives you the final Mortgage Commitment Letter.

Most often than not, real estate lawyers act on behalf of the financial institution by preparing and submitting the necessary paperwork and documents for the mortgage to the financial institution for approval. Prior to the closing day, your real estate lawyer will:

1. Certify the property title to the financial institution
2. Advice you concerning any government program designed to help home buyers that will apply to your case. This includes Tax Rebate programs, land transfer tax, RRSP plans and home ownership savings plans
3. Inform your insurance broker on the name, phone number, address, fax number of the final institution, providing you and your real estate lawyer with the mortgage.
4. Need a letter that confirms the insurance coverage is in place, and is effective on closing. This is a very important point since the bank will not pay a dollar in advance to close the purchase transaction until they are sure that the property insurance is in your possession.

There are so many ways you can enjoy the services of a real estate lawyer. Also remember to have your lawyer review the purchase agreement before signing the document. Real estate lawyers also check other documents that can possibly affect the title and complete a title search on the property if you are purchasing it to ensure that the property you are purchasing has a clean title.  The financial institution will also work together with your lawyer to coordinate the funding if you are financing the purchase and will register the mortgage on title. Real estate lawyers also communicate directly with the real estate agents involved to ensure conditions such as home inspection and financing are met by the said dates. Other fees including Land Transfer taxes and property taxes will also be addressed. You can avoid any mistake that can easily be overlooked with the help of a real estate lawyer. Little mistakes can negatively affect the success of a transaction and attract extra cost and waste of time. Incorrect legal descriptions, incorrect numbers and misspelled names are some of the few examples of mistakes that can be made on a transaction. Your Real estate lawyer will ensure your transaction is in accordance with the laws and regulations.

Real estate lawyers Newmarket will also ensure that you are protected from any commercial or legal issue. They will assist you in handling investment opportunities, mortgages, property leasing, issues on land use, local government laws and codes, and other matters regarding real estate laws and transactions.