De Krupe Law

Lawyer for Home Purchase

Speak to the Lawyer for Home Purchase Today

Ensure a smooth and successful property purchase with De Krupe Law, an expert real estate lawyer in Toronto, Vaughan and other locations. Our legal services will guide you through the complex process of buying real estate, from contract review to a successful closing. Contact us today for a free consultation and experience the peace of mind that comes with having a dedicated legal team by your side.

Secure Your Transaction with Our Lawyer for a Home Purchase Services

Buying a property is a significant investment, and it’s essential to have expert legal guidance throughout the process. With proper legal representation, buyers can avoid costly risks, including title issues, liens, and disputes. Our team of real estate lawyers is here to guide you through the entire process of purchasing property and ensure a successful outcome.

To secure your property purchase, you should:

Send us your Agreement of Purchase and Sale, as well as other documents that you have already collected. They can also be submitted by your real estate agent;
Contact your lender or mortgage broker. It is crucial to let them know that we will be representing you;
Ask your mortgage broker or lender to forward mortgage instructions to our office;
Stay in touch with our team in case additional documentation is required, and enjoy a successful and cost-effective closing.

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Documents You Need to Buy a House

If you’re planning to purchase a house in Ontario, it’s important to know the list of documents that are needed to complete the transaction. We have an extensive blog post describing how to make an offer on a home in Toronto. Meanwhile, Here are the essential documents that you’ll need:

Agreement of Purchase and Sale

The Agreement of Purchase and Sale is a legal document that outlines the terms and conditions of the transaction between the buyer and seller. It includes details such as the purchase price, closing date, and any conditions or contingencies that must be met before the sale can be completed.

Mortgage Documents

If you’re obtaining a mortgage to finance your home purchase, you’ll need to provide the lender with various documents, including a mortgage application with or without written pre-approval, income verification, and credit history. You’ll also need to sign a mortgage agreement, which outlines the terms and conditions of the loan.

Home Inspection Report

A home inspection report is a document that outlines the condition of the property and any defects or issues that need to be addressed. It’s important to have a home inspection conducted before finalizing the sale to ensure that there are no hidden problems that could affect the value or safety of the property.

Title Search

A title search is a crucial step in the home-buying and ownership transfer process that ensures that the seller has legal ownership of the property and that there are no liens or encumbrances on the title. The title search will also reveal any easements, rights-of-way, or other restrictions that may affect the property.

Survey or Certificate of Location

A survey or certificate of location is a document, often with a plan or map, that shows the property’s boundaries, including the location of buildings, fences, and other structures.

Insurance Documents

You’ll need to obtain homeowners’ insurance to protect your investment in the property. Your lender may also require that you obtain mortgage insurance to protect their interest in the property.

Taxes and Legal Fees You Need to Pay to Buy a House

Buying a house comes not only with a closing cost you have agreed on with the seller but also with various taxes and fees, like a home inspection fee, that you’ll need to pay as a buyer. To budget appropriately and avoid any unexpected expenses during the buying process, we recommend contacting our professional lawyer for a home purchase. Here are the obligatory fees that you’ll see in the documents:

Our Flat Rate Legal Fees

This is the cost that you pay for our lawyer for home purchase services. It includes a lawyer’s insurance coverage for transactions, the cost of conducting a title search, preparing legal documents, and registering the property with the land registry office, as well as full legal assistance needed up to the successful closing of a deal. If you want to learn more, read our blog, where we tell you all about real estate lawyer’s fees.

Land Transfer Tax

The amount of LTT that you’ll need to pay depends on the purchase price of the property. In Ontario, the LTT is calculated using a tiered system, with different tax rates applied to different portions of the purchase price. Use our Ontario Land Transfer Tax calculator and Toronto land transfer tax calculator to get a general idea of your future tax amount.

Municipal Land Transfer Tax

In addition to the provincial LTT, some municipalities in Ontario also impose their own municipal land transfer tax (MLTT). The MLTT is payable by the buyer and is calculated using a similar tiered system as the provincial LTT. Not all municipalities in Ontario impose the MLTT, so it’s important to check with your real estate agent or lawyer to determine if it applies to your property.

HST

If you’re purchasing a newly built home, you may need to pay Harmonized Sales Tax (HST) on the purchase price. The HST combines the federal Goods and Services Tax (GST) and the provincial sales tax. The amount of HST that you’ll need to pay depends on the purchase price of the property.

Why Do You Need a Lawyer for a Home Purchase

Buying a house is a significant investment, and it’s important to ensure that the transaction is completed legally and efficiently. One of the key professionals that can help you achieve this is a real estate lawyer. We recommend you hire a De Krupe Law lawyer for home purchase when buying a house since we:

Provide legal expertise and valuable advice on issues such as zoning, taxes, and property rights, which can help you make informed decisions about your purchase;
Review contracts and draft legal documents related to the property transaction to ensure that the agreement is legally binding, your interests are protected, and there will be no potential issues or disputes in the future;
Conduct a title search to protect you from the hidden issues or surprises that could affect the value or legality of the property;
Control the closing process while ensuring that all legal requirements are met, including paying taxes and fees. We also make sure we correctly register the property with the land registry office.

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How We Can Help

Our lawyer for home purchase provides comprehensive legal support for property buyers in-person, online and at your place to ensure a smooth and successful property purchase. We offer:

Contract review;
Due diligence;
Title searches;
Other essential legal services.

The De Krupe Law team of experienced real estate lawyers has extensive knowledge and expertise in all aspects of real estate law, providing our clients with the confidence and peace of mind they need to make informed decisions.