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When to call a Lawyer and what you need to knowOur real estate law group is headed by Jason Botelho. If you are considering selling or purchasing real estate, it is advisable to consult a lawyer prior to signing the Agreement of Purchase and Sale or, in the alternative, inserting a clause in this agreement to give you an opportunity to review this agreement with a lawyer prior to becoming final and binding. In many cases a standard form of Agreement of Purchase and Sale is used. The Purchaser or Vendor, as the case may be, must ensure that all significant terms, representations and warranties are included in the Agreement of Purchase and Sale. The Vendor and Purchaser will necessarily have different concerns which must be addressed in order to complete the transaction. Acting for purchasers of propertyAt Costa Law Firm, our lawyers will give you the advice you require particular to your individual circumstances. When acting for a purchaser of real property, you may consult Costa Law Firm regarding the following: enclosing a conditional right of the purchaser to inspect the property prior to closing the deal; this includes the provision requiring the production of a property's up-to-date survey or, in the alternative, an existing survey of the property; making the agreement conditional upon the purchaser arranging financing, or in the alternative the sale of an existing property and the insertion of such clauses relating to the present or future use of the property, as may be necessary. Acting for vendors (sellers) of propertyWhen acting for the Vendor, the lawyers at Costa Law Firm can give advice regarding the following: the particulars of any mortgages to be assumed; a vendor take back mortgage to be provided on closing; implications relating to Goods and Services Tax (GST); Land Transfer Tax (Provincial and Municipal); the impact of any representations relating to tenancies and the implications of any representations regarding the specified use of the property. Title searching, Reviewing Surveys, Zoning and other requirementsPurchasers now have the option of obtaining title insurance, usually as an alternative to the costs of a new survey of the property. The lawyers of Costa Law Firm will advise you if your particular transaction may benefit from title insurance, which often eliminates the need of obtaining municipal tax, building and zoning certificates. Title Insurance and can protect against many claims arising from title defects and risks. Title Insurance may also be required by mortgage lenders to cover their interests in the land.Once an Agreement of Purchase and Sale is accepted, the lawyers at Costa Law Firm will work diligently to complete the transaction and, in general, will carry out the following: (i) a search of title will be conducted, examining the chain of title and checking the ownership of adjoining lands, (ii) reviewing the survey provided, and advising on the necessity of an up-to-date survey; (iii) checking for property insurance; (iv)reviewing the relevant sections of the Municipal Zoning By-laws to ensure that the property and its use complies with local requirements; (v) conducting a corporate search to confirm that a vendor corporation is a valid and subsisting corporation during the time in which it held title to the property; (vi)determining if a purchaser is buying a condominium unit, ordering an estoppel certificate with the purchaser; (vii) reviewing executions against parties; (viii) addressing any environmental concerns [in particular] relating to commercial and industrial properties; (ix) ordering a tax certificate; (x) checking outstanding utility accounts; (xi) conducting an inquiry as to the compliance with registered and unregistered restrictions; (xii) if the purchaser is a new home buyer, requesting an (xiii) occupancy permit, and obtaining evidence of HUDAC enrollment and warranty; (xiv) if the purchaser is acquiring rental property, we shall conduct an examination of the validity of rents and the compliance with the appropriate legislation; and (xv) maintain open communication with the client to address any and all other issues which may arise. Consulting with Costa Law Firm's Real Estate Lawyer can save you money, time, energy, and litigation laterWhether you are intending to deal with a residential condominium, a new home purchase, commercial, industrial, rental or cottage property, Costa Law Firm will provide the guidance and assistance you require to complete your transaction and protect your interests. By consulting our office at an early stage in your transaction, you may obtain the advice which could avoid unwanted litigation when either party is unable or unwilling to complete the transaction. Please complete our confidential information section by clicking on the Contact Us link
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