Buying a home for the first time is full of excitement, with many decisions to be made. Choosing the right neighbourhood, finding a home that fits your growing family, or getting the beautiful kitchen you’ve always dreaming of
Once you’ve choosen your dream property and negotiated the deal, all sorts of fees start to pop-up. Home inspections, fees to transfer utilities services, moving expenses… Those extra costs add up quickly, and you may find yourself looking for ways to cut back on expenses. One area first time home buyers are tempted to cut costs on is hiring a real estate lawyer to handle the transaction.
Hiring the right lawyer early in the home-buying process can actually save you time, risk, and money. Getting your documents to your Real Estate Lawyer early enables them to carefully examine all aspects of your potential agreement to ensure the deals is sound, fair and not misleading in any way. During the closing of your purchase, your Lawyer will ensure that all paperwork is in order, that all final details are dealt with, and that closing documentation is properly executed and finalized. Your new home purchase is one of the biggest financial investment you will ever make, ensure it’s done right!
How to choose a Real-Estate Lawyer?
Ideally you should start your search for a real estate lawyer at the same time you search for your new home. Your Real Estate agent may suggest lawyers they are confident working with, or you can ask for recommendations from family and friends. You can also go online and look for a lawyer based on independent review sites such as ThreeBestRated, FACEBOOK, Yelp and Google. To ensure you are getting the best advice, choose a lawyer who’s area of practice is focused mainly on residential real estate law, not someone who might only hand a handful of transactions a year.
Getting the best rates from your Real Estate Lawyer.
After you have identified 2 or 3 lawyers you might like to work with, contact their office for a phone consultation. Find out if their fee includes meeting with a lawyer to review and sign your documents, conflict resolution should you encounter any unforeseen problems related to your purchase and disbursements such as registration charges, tax and title searches, software fees, courier charges, etc. Don’t be afraid to ask questions to ensure you fully understand what services you are paying for. Following your conversation be sure to request a written quote.
Choosing what appears to be the cheapest initial price may cost you more in the long run!
What if your real estate deal falls through?
Your Real Estate Lawyer will continue to represent you and your interests. They may even be able to suggest a solution that could save the deal while still looking out for your best interests. Remember, your lawyer is the most unbiased advisor involved in the purchase of your home.
To speak with a real estate lawyer at SUMMIT LEGAL GROUP or request a copy of our Real Estate Conveyancing Guide, Phone: 587-356-0356 or Email: firstname.lastname@example.org.