Why a seller needs a real estate lawyer
When it comes to complex legal documents, it takes a pro to decode the legalese. And when it comes to real estate transactions, there are plenty of those complex legal documents. You’re going to need a real estate lawyer.
After all, selling a house involves a lot of your money, and it involves numerous people, service providers, multiple levels of government and stacks of paperwork. Mistakes or malfeasance can be costly. Your legal professional will ensure that every part of the process is done according to the law, and that every legal document you sign is prepared with your best interests in mind.
Typical ways a real estate lawyer can help?
- Fielding any of your legal questions
- Reviewing the Agreement of Purchase and Sale
- Calculating the total amount owed to you from the buyer (including tax and utility adjustments)
- Fielding buyer questions regarding the property title
- Ensuring all requirements for closing day are met (money transferred to you from the buyer, and the property title put in their name), and closing the sale with the buyer’s lawyer
- Preparing the reporting letter
How to hire a real estate lawyer
As with any professional service, it pays to shop around. The best place to start is by asking your Royal LePage real estate agent. They’ll have worked with a number of local legal pros in your area, and will be able to provide you with a few names so that you can choose the one that best suits your needs.
Alternatively, ask friends and coworkers, check out online legal referral directories and the Yellow Pages, or call your provincial bar association. Many lawyers have websites with bios and specifics about their designations and areas of specialty. Ask for references if you have any doubts.
Also, be sure to establish fees and disbursements (any costs related to handling your file such as long distance calls and travel) up front.