What Residential Real Estate Law Firms Do In Alberta
A residential real estate law firm in Calgary, Alberta helps people with their homes. Most of our clients are people like you. As a residential real estate law firm, our job is to best represent you. We will explain each part of your transaction. we want to make sure that you understand as much as you want to. You are always free to ask questions. While there are many terms and acronyms used in residential real estate, we always keep in mind that while we deal with real estate everyday, for most of our clients, this is something special that does not happen all the time.
Here is how the residential real estate law firm of Kahane Law Office in Calgary can help. The underlined terms below will take you to dedicated pages that explain in further detail those specific parts of what a residential real estate law firm does. Please note that residential real estate also includes mobile / manufactured homes.
Residential Real Estate Contracts
As a residential real estate law firm we are able to draft contracts for buying or selling homes. We have a whole web page dedicated to buying and selling residential real estate. We can review, negotiate, draft and explain all the parts of a contract. In addition, we help with contracts for residential home purchase options, rent to own agreements and agreement for sales. This is an important first step in buying and selling a residential property. It is always easier to fix a draft of a contract to make it better for you than to try to fix a situation after a contract has been agreed on.
Acting For Residential Real Estate Buyers
When acting for a residential real estate buyer, we are focused on getting funds to the other lawyer and making sure there are no nasty debts on title. As a residential real estate law firm we will draft all documents for both the mortgage and purchasing the home. As part of this process we will request funds from the mortgage company also. Residential real estate law firms do not coordinate the keys with the buyers. Real estate agents normally handle this step of the process. In addition, the real estate agent joins you on your walk through on your possession date.
Please note that there are special terms that can protect buyers. If there is any situation that you are concerned about, talk to you residential real estate law firm before you sign a contract. we work with your real estate agent to protect you. Our last step is to make sure the title transfer occurs so that title shows your name as owner.
Acting For Residential Real Estate Sellers
When we act for someone who is selling their home, the most important factors are to get things ready for the sale on time and ensuring that our client gets paid. A residential real estate law firm acting for a seller will have to prepare the transfer of land, order an estoppel certificate (if it is a condo), collect the Real Property Report (RPR) from the client, and prepare all the other related paperwork. If relevant, we will also work through any dower right issues that may come up. We then send the documents to the lawyer for the buyer. These documents are sent on trust conditions to make sure that they are not used in a way that would hurt the seller. Once we receive funds, we will payout the real estate commissions, any debts on title and send the remaining net funds to the seller.
Residential Real Estate Law Firm Includes Mortgage Refinance Lawyers
When a residential real estate law firm acts for someone refinancing their home, we draft the required lender paperwork, register the mortgage at land titles and fund the mortgage. As part of the residential real estate law firm will have to pay out your existing mortgage. This also includes any line of credit on title. This means that the line of credit will no longer be available. If this is a problem for you, make sure you mention it to your real estate lawyer. They may not be able to change that requirement but they can go over your options. Sometimes your new mortgage company will require the residential real estate law firm to pay down or pay out other debts. These can include credit card and car loan debts.
Some clients need to transfer ownership of property, add a name to a property or remove a name from their property. If you needs to transfer title to your existing property, we can help. The title transfer team at our residential real estate law firm can usually help you quickly. This is a low cost option for transferring between family members, adding spouses, or getting a mortgage co-signer off title. When acting for a transfer of land, we simply change the names on title. We do not deal with funds or adjustments for taxes, condo fees, etc.
Title insurance protects against unknown title defects as well as fraud. Most title insurance companies will not sell a title insurance policy to a homeowner. You will be required to purchase it through a law firm. At Kahane Law we do not mark up the cost of these policies when you are buying a home. Learn more about title insurance to decide if this is an insurance product that you would like to protect the ownership of your home.
Real Estate Law Firm With Flat Rate Fees: Peace Of Mind And Value!
Our firm started out as a firm specializing in land related law. While growing to include many other areas of law, our team of lawyers includes several with detailed experience regarding land, real property and real estate. Kahane Law Office in Calgary Alberta is a residential real estate law firm with flat rate fees. Our flat rate fees gives you peace of mind. In this way you know what your total financial cost is for a standard transaction before you hire our firm. Please see our flat rate fees for details. Call 403-225-8810 or email today to contact us.