Purchasing real estate can be an exciting time in a buyer's life. But it can also bring a lot of stress if you don’t know or understand all the requirements. At Brace Law, we can help you navigate the landscape and understand the inner workings of buying a home.
Whether you are a first-time home buyer or looking to relocate, a Brace Law lawyer will help you at every step, from drafting agreements of purchase and sale to preparing your finances.
Contact us at 905-815-6556 or email us at staff@bracelaw.ca
Real Estate Purchase Requirements
Down Payment
A down payment is the amount of money that you put towards your purchase. The amount you have to put down will vary depending on the purchase price of the home. Typically, the average person will spend about 5-20 percent of the purchase price on a down payment. The larger your down payment, the more favourable your mortgage terms will be.
Mortgage Approval
Other Expenses & Preparing Finances
There are numerous expenses that arise when purchasing a home, including default insurance, property taxes and utilities fees. As such, it is important to ensure that your finances are properly prepared and in order before making such a large investment. It is important to start saving money and rid yourself of any debt to ensure the best credit score and mortgage rate.
First Time Home Buyer Incentives
If you are a first-time home buyer, this will be a very exciting time! The Canadian government offers several incentives that we can help you take advantage of. This can include the First-Time Home Buyers’ Tax Credit, Land transfer tax rebate or the GST/HST New Housing Rebate, amongst others.
To take advantage of these incentives and to inquire about the process of buying a home, contact a Brace Law lawyer.
The Process of real estate purchase
The process of buying real estate can appear complex and complicated. Our Real Estate Lawyers can help navigate you through this process. A lawyer can help ensure that all property taxes are up to date, that the title on the land is valid, and ensure there are no claims against the property to ensure there are no surprises for you and your ease of mind.
Step 1: Retainer
When you are hiring a lawyer to handle the closing of your purchase, it is important to understand what services you are being provided. At Brace Law, we provide all of our clients with a Retainer Letter that shows what services we provide to ensure a smooth process.
Step 2: Negotiations
Once you’ve decided on the home you want to purchase and an offer has been made, our lawyers can help negotiate the Agreement of purchase with the seller or their agent.
Step 3: Title Search
To ensure that no surprises arise during the purchase process, our real estate lawyers conduct a title search to ensure that there is a valid title on the property. In addition, a title search will report any issues or potential problems with the property. Afterwards, we will send a Title Requisition letter and prepare all closing documents and send them to the seller’s lawyers.
Step 4: Signing Paperwork
Finally, we schedule a meeting with you where we will go over and sign all of the documents, including the Title Search, financing documentation and closing documents.
Step 5: Closing Date
And that’s it! On closing day when all the documents have been processed by both sides, you officially become a proud new owner! We deliver your proof of ownership, the closing report and any signed documents you may need.
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Client Reviews and Testimonials
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Somayeh Parishani
Behnaz and Lusi, you are amazing. Thank you for helping us to fulfill our dreams and come to Canada. They professionally and patiently listened to us and introduced the best program matching our situation. I strongly recommend Brace law for your immigration journey.
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Paula Greco
Mrs.Assad was so helpful and made me feel at ease when dealing with lawyers. I would highly recommend her
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Redjon Gjuzi
I asked brace law professional corporation to help me and my brother to obtain the work permit and they was very helpful and the team ready to answer to all my questions.