Real Estate Law: Sale
Thinking of selling your home? Contact Brace Law today to speak to our closing lawyer to avoid surprise transaction fees and ensure a smooth sale.
Selling your home can be exciting, it means new opportunities and a fresh start! Having a real estate lawyer to help guide you through that process can be helpful when navigating the vague and complex property law that is sure to arise. A Brace Law lawyer can answer your questions and assist at any stage in the sale process.
There are many costs associated with selling a property, including insurance and mortgage discharge fees, inspection fees, and legal fees, amongst others. These costs can quickly add up, which is why it is essential to have someone alongside you so that no surprises arise.
In addition, it is essential to have a lawyer to determine potential issues that may arise, including pre-approval to finance a new property, determining the value of the property, to estimate total expenses for sale, and to check to make sure there are no issues with your current mortgage or property title.
The Process of Selling Property
While the process of selling a property will vary depending on the complexity of the property, this is a simple step-by-step guide typical to selling a property.
a. Retainer
When hiring a real estate lawyer to handle the sale of your property, it is essential 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 you want to sell your home, we can help relieve some of your stress by partaking in the negotiation process. Brace Law will ensure that you are given a fair offer and are not undertaking any promises you cannot deliver.
c. Changing your Address
During the sale of your home, it is important to start changing your address to that of your new property. That can include updating utilities, driver’s licenses, and other documents to reflect your new address.
d. Approving your Offer
Once you receive an offer you like, our closing lawyers will formally prepare all required documents for the closing of the sale.
e. Finalizing Documents
When an offer is approved, the buyer’s lawyers must prepare and finalize certain documents before closing the sale. We will schedule an appointment with you where you will provide us with the key to the house, a government-issued ID, and a void cheque if you prefer the money from the sale to be directly deposited.
f. Completing the Transaction
Once you have signed all the necessary documents, our real estate lawyer will finalize the process and ensure that all the required documents, funds, commissions, and taxes are taken care of.
