When purchasing or selling a home, hundreds of thousands of dollars are at stake. Only a competent, experienced real estate lawyer can give you reassurance that your deal will close on time or without complications.
When looking for a real estate lawyer, it’s important to make sure he or she has the background to competently close your deal and help protect your investment. That means the lawyer should have a good amount of experience in real estate law and be in good standing with the Law Society of Upper Canada. The lawyer likely won’t be the lowest priced one, but will offer a fair price for the work done.
When you search for a real estate lawyer based on how low his or her rates are instead of experience and reliability, you can end up losing money.
Purchasers and sellers may not understand why some lawyers offer such low rates. Usually, only services needed to close the deal are included in lawyer’s fees. For a purchase transaction, necessary services are searching the title, registering the mortgage, transferring title, and ensuring funds are transferred to the seller.
Where there is a low fee agreement, there is usually no review of the Agreement of Purchase And Sale and no legal advice. If complications arise that the lawyer is forced to handle, you will be billed extra for those, unless they are covered in the retainer agreement.
At Filice Law we offer our clients a pricing structure that is fair and adds value to your transaction. That means when you come to our office, we will review your agreement and provide you with legal information and advice. We will regularly update you about the progress of your transaction. We will also work hard to help you avoid the pitfalls that home buyers and sellers can fall into when they don’t have proper legal representation for their real estate transaction.