

LexTransact
Law
Real Estate
Real Estate Purchases
Here at LexTransact Law, we undertake the following steps to help complete your real estate purchase:
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Review and advise on Agreement of Purchase and Sale
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Advise on and order title insurance
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Determine if any encumbrances/defects on title
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Advise whether encumbrances/defects are coved by title insurance
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Advise on applicability of Tarion
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Off-title search re tax certificate
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Off-title search re utilities status and arrears
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Prepare purchaser closing documents and arrange for signature
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Review seller closing documents and arrange for signature
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Handle closing funds
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Delivery of keys
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Register new owners on title pursuant to Document Registration Agreement (document registration)
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Provide final reporting letter to purchaser
In addition to the above, the following additional steps will be undertaken where the property being purchased is a condominium:
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Review and advise on Status Certificate as appropriate (where condominum being purchased)
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Review and advise on any related documents (financial statements, insurance confirmation, budget, declaration, standard unit description – note: review of condo by-laws not included)
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Review and advise on any Section 98 agreements
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Review and advise on any corporation borrowing by-law registered on title
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Review and advise on condo plans (confirm boundaries & ownership)
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Order updated Status Certificate as appropriate (subject to title insurer grace period)
Where your transaction includes a mortgage, the following additional steps will be undertaken:
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Advise on mortgage funding requirements
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Coordinate with lender to add mortgage proceeds to closing funds
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Register mortgage on title pursuant to lender instructions
Real Estate Sale
Here at LexTransact Law, we undertake the following steps to help complete your real estate sale:
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Review and advise on Agreement of Purchase and Sale
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Receipt, review, and advise on any requisition (due diligence) requests from purchaser
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Prepare statement of adjustments for closing
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Prepare seller closing documents and arrange for signature
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Review purchaser closing documents and arrange for signature
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Receipt and release of closing funds and any applicable holdbacks
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Release commission funds to real estate agents where applicable
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Perform registration work pursuant to Document Registration Agreement (document registration)
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Perform applicable undertakings to discharge existing mortgages from title
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Provide final reporting letter to seller