Legal Real Estate Advice
The buyer won’t close. What are my legal remedies?
What can a seller do? Here’s the short answer: Extend the closing if the seller still wishes the transaction to close Accept the breach, terminate the transaction, keep the deposit without having to account to the buyer and walk away (this is prudent in an escalating market) Accept the breach, hold the deposit in abeyance,…
Death In Real Estate: Do I Need to Probate the Will Before I Sell the House?
As a real estate lawyer, I am often asked if the Will of a deceased client must be probated before his real estate may be dealt with. There are a few issues to consider before the aforementioned question can be answered (and in this blog I will only address situations where the deceased has made…
Land Transfer Tax, Rebates, and Exemptions For First Time Buyers
When it comes to answering these questions and deciphering their answers, consulting a real estate lawyer is often a good first step for potential homeowners. Generally speaking, the Ontario Land Transfer Tax Act and the Municipal Land Transfer Tax Act of Toronto provide that buyers are obligated to pay a land transfer tax upon the purchase…
The Importance of a Home Inspection
You shouldn’t purchase a home without having it inspected by a competent and qualified home inspector. Many people feel that they are qualified to do the home inspection themselves, however this is not the case. If after closing you discover problems with the house and attempt to pursue your seller in court for compensation, the…
Can you Hold Back Funds on Closing When an Appliance is Broken?
The simple answer is: No. As in any contractual situation, the agreement of purchase and sale is the first document that should be reviewed. Unless your agreement of purchase and sale gives you the right to holdback a specified sum of money, other than in certain situations where there is material damage or a material…
“Caveat Emptor” – AKA: Buyer Beware – in Fine Print
What Does “Caveat Emptor” Mean in a Real Estate Agreement? A common question I receive from purchasers is regarding who is responsible for the repair costs if something is not working on the date of closing. For example, an appliance, the heating/air conditioning system, the electrical system, or the roof. Buyers ultimately want to know…
Know who you are dealing with – the perils of dealing with contractors
Before hiring a real estate lawyer or a building contractor, you must satisfy yourself as to his credentials and track record. This is an easy enough task when it comes to hiring a lawyer. One can contact The Law Society or their friends. Since lawyers are regulated, the Law Society has a discipline department which…
What a Real Estate Lawyer should do when their clients start disputing?
As a real estate lawyer, mitigating disputes amongs clients comes with the job. Recently I was confronted with the following situation: I was retained by a parent and his child to purchase a new condominium unit from a builder. The day before the interim occupancy closing the parent and child had a falling out and…
How To Choose A Good Real Estate Lawyer | 5 Simple Tips
Choosing the right residential Real Estate Lawyer can be a challenging process, especially while being involved in other time consuming tasks when buying or selling a home. I’ve created a 5 step checklist to help any consumer on the market make an educated decision in hiring a lawyer for their residential legal needs. 1. Contact…