Real Estate Law: Purchase

Purchasing a home can be an exciting time in an individual’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.

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.



A mortgage refers to the loan by which a bank or a creditor provides. You can use a mortgage calculator to determine your limit for a home purchase. There are a variety of mortgages and lines of credits and it is highly recommended that you shop around at different financial institutions.

Other Expenses and 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 at 905-815-6555 today!

The Process of Buying a Home

The process of buying a home 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.

The following is a simplistic step-by-step guide that is typical of the home buying process.

a. 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.

b. 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.

c. 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.

d. 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.

e. 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.


If you are buying a house in the GTA and the surrounding region, call Brace Law at 905-815-6555 where you can speak directly to our real estate lawyers for more information and to help you navigate the purchasing process of your new home.