REAL ESTATE Buyer Lawyer
Are you seeking trusted legal advice for buying real estate in Alberta? Your search is over. Alberta Law Office can assist with any legal guidance you need for your next home or business purchase. Whether you are a Canadian citizen buying your first home, an experienced home owner ready to make your next purchase, or a business owner looking to maximize your real estate investment, Alberta Law Office can help. Our real estate buyer lawyers are specialized in both residential and commercial properties. No matter what your unique situation is, Alberta Law Office buyer lawyers can help you navigate the real estate purchase process easily and effectively.
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What Should I Consider When Buying a Residential Property?
If you’re planning on purchasing residential property, consulting with a buyer lawyer can save you from expensive errors, costly delays and unnecessary frustration. Even experienced home owners understand no two homes or their legal documents are the same, even if the properties are similar or in the same area.
Savvy home buyers who work closely with an experienced real estate attorney can rest easy before making a significant home purchase. Buyer lawyers can quickly flag concerns in purchase documents and explain confusing legal jargon so there are no surprises when you are ready to sign. A real estate buyer lawyer knows their way around contracts and purchase agreements. They can help you negotiate better prices, avoid last-minute snags, and ensure the buyer gets the most benefit possible from their purchase.
At Alberta Law Office our real estate buyer lawyers offer professional expertise with a full range of real estate legal services for your next residential purchase. If you have found yourself in a stressful home purchase situation, experiencing frustrating delays, or have run into legal obstacles with a seller, we can help. Put our expertise in residential real estate purchasing to work for you and get the results you need.
What Can an Edmonton Buyer Lawyer Do for Me?
An Edmonton buyer lawyer will have a thorough understanding of Alberta real estate law related to buying property in the area. When you buy property in Alberta, it is recommended that both the buyer and the seller are represented by lawyers. The buyer lawyer is responsible for ensuring that all of the terms and conditions of the Agreement of Purchase and all legal documents related to the purchase have been satisfied.
The buyer lawyer has many responsibilities and my include the following:
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Conduct a title search to ensure the seller has the legal right to sell the property
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Verify there are no legal issues with the title or claims listed against the property
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Draw up the mortgage documents for the buyer’s mortgage lender
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Review essential closing documents that may be applicable such as:
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Land transfers
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Tenancies at will (if the buyer will obtain possession prior to the full payment to the property owner)
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Real property report
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GST rebate forms for new housing
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Estoppel and insurance certificates for certain condominium properties
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Arrange for home and title insurance as necessary
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Schedule a signing appointment to review and sign all seller’s and lender’s paperwork
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Ensure the mortgage and title are registered in the buyer’s name
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Inform you of property tax closing costs and payment options
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Manage financial transfers to hold funds in trust from the lender and authorize payments on closing day
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Request the seller’s lawyer to authorize the release of keys for the buyer.
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Send all final legal and signed documents after closing are in your possession.
At Alberta Law Office we understand that buying property can be one of the biggest and most important purchases of a lifetime. We are ready to assist with the legal guidance you need. If you are ready to have a Purchase Contact reviewed, have concerns about a property, or simply want to ensure a smooth transition, our real estate attorneys can walk you through all matters related to buying real estate. Contact us today for your free consultation with one of our dedicated and experienced buyer lawyers.
Which Types of Purchase Contracts are Covered by Edmonton Real Estate Buyer Lawyers?
In addition to purchase agreements for residential real estate, there are a number of different purchase contracts that are typically covered by our Edmonton buyer lawyers. These can include contracts for purchasing a business, land, products or services and company shares.
The buyer’s attorney is most often responsible for preparing legal documents for the seller’s attorney to review before a sale can be completed. When a client is seeking to purchase a business, assets or shares, these processes can become very complex and experience legal guidance is essential for a successful outcome. The process may also involve additional protections for all parties outlined in non-disclosure agreements, letters of intent and non-competition agreements.
Buyer lawyers ensure that all of the terms in the contract are complied with so both the seller and buyer can move forward with confidence. They can also provide advice on how to resolve any disputes or negotiate terms that may arise between the parties.
If you are considering purchasing a business or land in Edmonton, it is important to speak to a buyer's lawyer to ensure that your transaction goes smoothly.
Can I Draw Up an Alberta Real Estate Purchase Agreement Myself?
There are many available templated purchase agreements available on the internet but deciding if this option is right for you may depend on answering several questions:
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How experienced and confident with these types of contracts are you?
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Will the contract meet not only your needs as a buyer but the needs of the seller?
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How complex is the transaction? Are there outstanding debts, potential legal issues or detailed terms to negotiate with either you or the seller?
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Is the value of the property or business so high that the risk of a legal error would be extremely costly?
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Even if you do feel confident in your agreement, it is prudent to have a buyer lawyer have a final review of your purchase contract before sending it to the seller’s lawyer.
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What Fees Can I Expect When Hiring a Buyer Lawyer?
Fees associated with hiring a buyer attorney will vary depending on the particulars of each real estate purchase. Fees will be dependent on the quantity and complexity of the legal documents required for the transaction to be completed. Buyer lawyer fees may also include travel expenses, court costs and investigator fees. However, the risk to your time and money when you do not have a legal expert guide your real estate purchase in Alberta can be more costly than anticipated in the long run.
We understand that buyers who are purchasing real estate and entering into contracts want to make informed choices about all their options. If you are interested in getting a quote for one of our expert Alberta Law Office buyer lawyers, please contact us for a free consultation and general fee information.
