At Marwah Law, we advise on all aspects of real estate transactions, including commercial and residential developments, buying and selling real estate, and refinancing. Marwah Law have the capacity to take on any level of transaction in a fast-changing, growingly complex field.
Residential Real Estate
Marwah Law handles the purchase and sale from start to end to ensure that title is properly transferred. We also draft mortgage documentation for use in purchases of property and re-financing of existing mortgages. Some areas handled during property transactions:
Fire insurance confirmation.
Payout statements of mortgages on title.
Preparing and executing all relevant documentation.
We are honoured to be sought after by clients who appreciate Marwah Law’s unique blend of in-depth business and investment advice provided in the real estate context. Our commercial real estate services specifically include advising on matters related to the acquisition and disposition of commercial property; leasing and development projects; and acting on behalf of landlords and tenants in commercial leasing matters involving industrial, retail and office spaces. We also represent buyers and sellers of commercial and residential real estate, and we advise clients on the financial components of real estate transactions, and draft/negotiate leases and provide legal guidance during all stages of development projects. Clients trust Marwah Law to assist with every real estate matter, including:
We keep our pricing simple, find the service that best suits your needs.
All prices are subject to applicable taxes and disbursements.
FREQUENTLY ASKED QUESTIONS
Whether you’re buying, selling or refinancing your home, one of the most important people you’ll work with is your real estate lawyer. No matter which process you’re going through, your lawyer’s overall responsibility is to make sure your paperwork is filed, your rights are protected and your transaction goes through. Here’s a breakdown our duties, and answers to some of the most frequently asked questions about working with real estate lawyers.
When you decide to sell your home, we will do a title search on your home to make sure there are no defects. We will also draft the deed of the home for the buyer, calculate any closing costs you have to pay and draft a Statement of Adjustments for you. On closing day, we’ll facilitate the financial transaction and wire you the funds for what’s leftover, after paying off anything you owed on your mortgage, your real estate agent’s fees, legal fees, etc.
If you’re buying a home, you’ll want to start working with a real estate lawyer as soon as you sign the agreement of purchase and sale. From thereafter, our job is to: conduct a title search, get title insurance in place, register the home in your name, draw up a Statement of Adjustments, and facilitate the financial transactions on closing day. Oh, and then we’ll give you the lockbox code to get your keys your new home!
If you’re refinancing, our job is to conduct a title search, to ensure it’s clear of defects; this protects both you and your lender. After that, we will register the new mortgage amount and facilitate the rest of the financial transaction. When you refinance, we draft up a Trust Ledger Statement instead of a Statement of Adjustments; it’s essentially the same financial document, but your transaction is only with the bank – not another buyer or seller.
What is the difference between title registration and title insurance?
Title registration is simply the process of changing the title of the home from the seller’s name to yours. Title insurance, on the other hand, is intended to protect you from liability should an undetected title defect be found. For instance, if there is a violation of the municipal zoning bylaws, an existing work order, property taxes in arrears or encroachments on adjoining property, this could affect your title. Both title insurance fees and registration fees are paid for on closing day.
What is the difference between legal fees and disbursements?
Disbursements are essentially the expenses incurred by us working with you, and anything we have to pay ahead of time on your behalf; this can include couriers, banking fees, transaction levies, government filings, and any searches we have to complete that come with a cost attached. Legal fees are what you pay us. Disbursements are usually identical throughout law firms across Ontario as lawyers are prohibited to profit from them.
What are “closing costs,” and how much money should I set aside for them?
Closing costs are those additional expenses that come due when you complete the purchase of your home. They typically include:
- Lawyer’s fees. When you buy a home, you need to hire a lawyer to complete a title search (to make sure there are no outstanding liens against the property and that the vendor actually owns the property), ensure all the documentation has been accurately completed, register your mortgage and register you as the new owner of the property.
- Land transfer tax. Most provinces (and some municipalities) charge a fee for documenting a change in ownership of real estate.
- Disbursements. These are costs that the seller has paid in advance, such as property taxes and utilities. You reimburse the seller for any prepayments that come into effect after you take possession of the home. The amount of these costs will vary, depending on where you live and what kind of home you’re buying. As a guideline, you can estimate that closing costs will be about 2.5% of the purchase price of your home, though this may vary greatly, especially if HST applies to your purchase.
At what point in the process do I contact a real estate lawyer?
For buyers and sellers, you’ll want to call contact us as soon as you have a signed agreement of purchase and sale. We will explain all the legalese in plain terms. You’ll need to talk to us again on closing day, to finish the transaction.
If you’re refinancing, as soon as you get a new mortgage commitment signed with your new lender.