De Krupe Law
Call a Lawyer for a Real Estate Closing Today
De Krupe Law provides comprehensive legal services to help you navigate the complex regulations and laws governing real estate transactions in Ontario. Contact us today for a free consultation.
Lawyer for Real Estate Closing: Trusted Legal Advice for Your Property Transactions
At De Krupe Law, our team of experienced real estate lawyers in Toronto, Vaughan and other locations is dedicated to providing top-quality legal services to clients selling all across Ontario. Whether you’re selling or buying a property or refinancing a mortgage, our experts are here to guide you through every step of the process. With more than two decades of experience in real estate law, we know how to help you achieve your goals.
Here is a comprehensive guide of what you can expect when you hire us and what you need to avoid costly risks while selling a property:
- Please send us your Agreement of Purchase and Sale, as well as all waivers and fulfillments. Your real estate agent can also submit them;
- Let necessary parties know that we will be representing you;
- Stay in touch with our team in case issues arise;
- When you choose the time of signing your closing documents and once we receive all payouts and discharge statements, we will be able to finalize your final figures prior to the closing of your transaction;
- When closing documentation is signed, you will give a direction to our firm as to how you want to receive funds so you can choose the most convenient option for you;
- Once your transaction is closed, you will receive an email or a phone call confirming it. This also includes your closing report and final figures.
Taxes and Legal Fees You Need to Pay to Sell a House
Selling a house can be a costly process, and it’s important to understand the taxes and legal fees that are associated with the transaction. There are several expenses that you will need to pay when selling your property.
Legal Fees
We charge a fee for our services, which includes preparing and reviewing legal documents, providing legal advice, and representing you in negotiations and disputes. Legal fees can vary depending on the complexity of the transaction so that we will provide a fixed fee upfront.
Real Estate Commission
If you use a real estate agent to sell your property, you will need to pay a commission fee. The commission is typically a percentage of the sale price and can range from 1% to 6%. It is usually split between the seller’s agent and the buyer’s agent. Make sure you are aware of the actual commission amount.
Capital Gains Tax
Capital gains tax is a tax on the profit you make from selling your property. However, if the property is your primary residence, you may be eligible for an exemption that allows you to avoid paying the tax. As always, it’s a good idea to ask your lawyer for real estate closing for any tax-related advice.
Mortgage Discharge Fees
If you have a mortgage on your property, you will need to pay a mortgage discharge fee when you sell your house. This fee covers the cost of removing the mortgage from the property title.
Selling a house can be a complex and expensive process, but with the help of an experienced lawyer for real estate closing, you can be sure to avoid any risks as well as save money and time on properly submitted documents.
Why Do You Need a Real Estate Lawyer to Sell a House
It is always essential to have an experienced real estate lawyer on your side. Here are some reasons why you may need a lawyer for real estate closing:
Legal Expertise
Real estate lawyers have extensive knowledge of Ontario’s real estate laws and regulations. They can help you navigate the legal complexities of selling a house and ensure that all the necessary documents are properly prepared and filed. They can also provide legal advice and guidance throughout the process, ensuring that your interests are protected and that the transaction is completed successfully.
Document Preparation
Selling a house involves a lot of paperwork, including the Agreement of Purchase and Sale, disclosure statements, and other legal documents. A well-equipped lawyer for real estate closing helps you prepare these documents and ensures that they are accurate and complete. This can help you avoid costly mistakes and legal disputes down the line.
Negotiations
Negotiations between the buyer and seller are inevitable. A real estate lawyer can represent you in them, ensuring that your interests are protected and that the terms of the sale are fair and reasonable.
Dispute Resolution
If a dispute arises during the sale process, a lawyer for real estate closing helps you resolve it. They can represent you in negotiations, mediation, or court proceedings, ensuring that your rights are protected and that the dispute is resolved as quickly and efficiently as possible.
Cost Savings
While hiring a real estate lawyer may seem like an additional expense, it can actually save you money in the long run. A lawyer can help you avoid costly mistakes and legal disputes, which can save you thousands of dollars in legal fees and other expenses.
By hiring an experienced lawyer for real estate closing at De Krupe Law, you can ensure that your interests are protected and that the transaction is completed successfully.
How We Can Help
Our experienced lawyer for real estate closing helps you navigate the legal complexities of real estate transactions, providing expert guidance and advice every step of the way. We perform online meetings and in-person consultations in any of our conveniently located offices and provide legal support over the phone or at your place to ensure a successful outcome;
We can also:
- Help you resolve any disputes that may arise;
- Prepare the paperwork;
- Negotiate the terms of the sale;
- Protect your interests;
- Other essential legal services to give you a smooth and successful property selling experience.
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.