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When Buying A House, Get A Lawyer Before The Deal Is Done

 

This article looks at why a lawyer is a good idea when buying a house even before the deal is closed.

As the Calgary Herald reports, home sales in the city are finally starting to rebound and after a long slump many people are once again looking to buy a house. While most Canadians understand that a lawyer is a necessity when purchasing a house, most only talk to a real estate lawyer after a purchase agreement has been finalized. A lawyer, however, is somebody who should be brought into the house purchasing process as early as possible. Because of a lawyer’s unique position and expertise, she can offer clients considerable protection and peace of mind when buying a home.

Why A Lawyer Is A Necessity

A lawyer is downright necessary when closing the deal on a property. Homebuyers, after all, will need a lawyer to perform a title search, transfer funds, and register the deed. Without these tasks being completed, the house sale simply cannot go through. However, these are tasks that are typically only completed after a homebuyer has finalized a purchase agreement. What many people don’t know is that a lawyer should be brought in well before the deal is closed.

Why A Lawyer Is A Good Idea

A lawyer’s main job is simple: looking out for her client’s best interests. A real estate agent, on the other hand, may be looking to finalize a deal quickly or looking to close at the price that will lead to the highest commission for him or her. If negotiating a sale with the seller directly then the seller is going to be looking out for his or her interests, not those of the buyer.

That’s why negotiating a purchase agreement with the assistance of a lawyer is so important. The Globe and Mail points out, for example, how an unscrupulous seller may try to trick a first-time homebuyer into paying extra fees on top of the typical closing costs. While a first-time buyer may be unaware of what “normal” closing costs are, a lawyer can ensure that what is being asked for is reasonable or even legal.

Likewise, when considering a home that is for sale a buyer will want to be aware of any possible legal issues with the property, such as an illegal structure or an encroachment onto a neighbour’s property. Those issues may go unnoticed by most buyers, but they could cost them thousands of dollars in the future.

Also, a lawyer can help with getting a favourable deal on financing. For example, many purchase agreements stipulate only that the offer is “conditional on financing.” A lawyer can make an offer conditional on the financing desired by the buyer, so that the buyer isn’t straddled by a mortgage with a higher interest rate than he or she had been planning on.

Real Estate Legal Help

Buying a home is the biggest financial transaction that most Canadians will ever make. That’s why it is so important for homebuyers to talk to a real estate lawyer as soon as possible. From identifying potential problems early on to protecting buyers from unscrupulous sales tactics, a lawyer can help homebuyers ensure their purchase goes smoothly and without any unwanted surprises.

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“We have used the legal services of Ms. Gisele Bruce for almost twenty years for our personal and real estate legal needs. We have found her Law Offices to be very helpful, efficient and competent…”
– George and Mary G.

Testimonial

“We have used the legal services of Ms. Gisele Bruce for almost twenty years for our personal and real estate legal needs. We have found her Law Offices to be very helpful, efficient and competent…”
– George and Mary G.

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“We have used Gisele Bruce over 10 years to complete our many personal real estate transactions as well as our commercial rental contracts…”
– Sara K.

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“ My husband and I have worked with Gisele Bruce several times over the past couple of years as we have sold and purchased homes in the Calgary area. We have found Gisele… ”
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