What can a Lawyer or notary do for you?
Buying a home is probably the biggest investment you’ll ever make. Why not protect it by seeking professional advice when finalizing your real estate transaction. It will be money well spent.
A lawyer or notary will guide and help you through all the details of your transaction and provide understanding to your decision. As your advisor, he or she will review and explain the Agreement of Purchase and Sale, the Property Condition Disclosure Statement, the survey certificate and any inspection reports or warranties.
Although your Realtor would have already conducted a title search and reviewed any changes, a lawyer or notary will search the title to ensure that the property is free of any problems such as liens, and that the seller has a clear title to sell the property. The advisor will also explain encumbrances such as rights of way or easements.
Your notary or lawyer will evaluate the transaction from a business perspective. He or she will scrutinize documents for any errors or omissions and will ensure compliance of all provisions in the contract.
Your lawyer or notary can help you with you real estate transaction, and some ways:
· Calculate exemptions, rebates and prorates, and prepare statements of adjustment;
· He or she will register final documents such as the transfer of title
· Helps explain taxes the Property Transfer Tax, municipal property tax and the HST;
· Arrange for payment of funds and removal of subjects;
· Confirm the possession date and time, as to which chattels and fixtures will remain in the house;
· Will finalize mortgage documents.