Residential Real Estate Lawyers for Real Estate Purchases in Toronto & the Greater Toronto Area
Each home purchase has different elements or unique characteristics that may affect the steps taken leading up to closing. However, in order to ensure our clients are as prepared as possible, we have set out an overview of what to expect in your real estate purchase. Included below are details about our role in closing the transaction as well as a list of the information we will require to complete the transaction.
At GLG LLP, our real estate lawyers are very hands-on with each file they oversee. Unlike some firms where the details are handled by administrative staff, our lawyers stay involved in each of our real estate files to ensure nothing is left to chance or overlooked. We take pride in the level of service and attention to detail we provide to each client.
What Do the Lawyers at GLG LLP do to Prepare for My Real Estate Closing?
Once you have retained us to represent you in your transaction, our office will begin conducting the necessary searches of title and preparing all of the required paperwork. We will engage your mortgage lender, if applicable, to arrange for the transfer of funds on the closing day to and execute the requisite financial documents on their behalf. You can expect to be in regular contact with our office leading up to the closing date as we gather all of the necessary information and make arrangements for you to sign paperwork.
At GLG LLP, we are able to conduct all client meetings remotely so there is no need to travel into the city to sign documents. We employ user-friendly meeting technology to meet with clients and execute paperwork in advance of the closing.
Information Required from the Purchaser(s) in Advance of the Closing
Soon after you’ve retained us to act on your behalf in your real estate purchase, we will require the following information from you to complete your purchase:
- The full legal name for title of each of the purchasers;
- The Date(s) of Birth of each of the purchasers;
- The spousal status of each of the purchasers;
- Information on which of the purchasers is a Canadian Citizen or Permanent Resident of Canada;
- Confirmation of whether all of the purchasers been physically present in Canada for at least 183 days out of the last 12 months prior to the date of closing;
- Confirmation of whether any of the purchasers is acting as a trustee, nominee or any other similar capacity;
- The address for service of the purchasers;
- Confirmation of whether the property you are purchasing be your personal principal residence;
- Confirmation of whether any of the purchasers first-time homebuyers;
- Confirmation of whether you intend to lease any portion of the property out after the purchase;
- Confirmation as to how the purchasers wish to hold title (as Tenants in Common or Joint Tenants);
- Whether you would like us to complete any off title searches not required by your lender;
- Confirmation of whether you want to have a survey of the property completed by an Ontario Land Surveyor (est. cost is about $1,500-$2,000);
- Confirmation of whether you will be obtaining a mortgage to complete the purchase and the lender information if applicable; and
- A copy of the front and back of each purchaser’s driver’s licence and passport.
Contact GLG LLP for Representation in Your Residential Real Estate Purchase in Toronto, Mississauga, Markham, York, and Etobicoke
Buying a home is a considerable financial commitment and requires several elements to come together with precise timing. The lawyers at GLG LLP are experienced in managing residential transactions throughout the Greater Toronto Area and elsewhere in the province. We will ensure nothing is left to chance leading up to your closing. To discuss your purchase with a member of our team, please contact us online or by phone at 416-272-7557.