Buying or selling a home can be an exciting as well as a stressful experience. If you’re doing it for the first time, you might not always be aware of the numerous factors to be taken into consideration while making the decision. We understand that for most of you, the sale or purchase of a home is one of the most significant financial transactions you will undertake. A knowledgeable Lawyer can help you complete the process smoothly. Consult with the real estate Lawyers from Medicine Hat’s Rath Law Office for successful transactions.
Our real estate Lawyers will work closely with your real estate agent and mortgage broker to ensure that all documents are legal. We’ll help you protect your investment by keeping you updated with the latest developments in property laws.
Our knowledgeable Lawyers can offer assistance for the following:
Home purchases and sales
Mortgage financing and details
Residential real estate disputes
Whether you’re buying or selling, it is crucial to remain in control of the process. Our checklists below can help you make a successful transaction:
Make sure that the offer of purchase and sale has information about which chattels are included and excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.). Include serial numbers, if possible.
Positive selling features such as recent significant improvements to the house (e.g. replaced furnace, installed new roof, etc.) should be brought to the purchaser’s attention. Also make sure of the original or other plans and specifications available as well.
Be sure of the amount of commission payable to the real estate agent, who is responsible for it and when it is payable.
Find out if reasonable time limits have been placed on any matters which have to be completed or complied with before closing.
Order a Real Property Report and compliance certificate for the buyer if your offer to purchase requires it. Ordering these ahead is important to ensure that there is sufficient time before closing to obtain any additional permits which may be required by the local municipality.
Making your offer subject to conditions can protect you. These could be:
Subject to financing.
Subject to building inspection.
Ensuring a recent Real Property Report with Compliance Certificate is provided for in your contract.
Subject to Lawyer’s approval.
Always include a time limit for acceptance by the seller.
Ensure that the offer to purchase and sale specifically refers to which chattels are included or excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.). If possible, include serial numbers.
Ensure that the existing mortgage is assumable. Contact the mortgage company much before the sale to determine what information they require from you. Make sure that the terms and conditions of your mortgage are clear to you.
Ensure that your offer contains conditions stating that the building and improvements on the property comply with City and Municipal Land Use Bylaws, Zoning Regulations, and Planning Department Requirements.
Get estimates from the realtor, the mortgage lender and your Lawyer, of the additional costs you will have to pay excluding the purchase price.
Whether you are buying, selling, or engaged in a commercial real estate transaction, we can help. Contact us today to schedule a consultation with our real estate Lawyers in Medicine Hat.
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