Real Estate

Real Estate Purchases
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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

  • Advise on and order title insurance

  • Determine if any encumbrances/defects on title

  • Advise whether encumbrances/defects are coved by title insurance

  • Advise on applicability of Tarion

  • Off-title search re tax certificate

  • Off-title search re utilities status and arrears

  • Prepare purchaser closing documents and arrange for signature

  • Review seller closing documents and arrange for signature

  • Handle closing funds

  • Delivery of keys

  • Register new owners on title pursuant to Document Registration Agreement (document registration)

  • Provide final reporting letter to purchaser

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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)

  • Review and advise on any related documents (financial statements, insurance confirmation, budget, declaration, standard unit description – note: review of condo by-laws not included)

  • Review and advise on any Section 98 agreements

  • Review and advise on any corporation borrowing by-law registered on title

  • Review and advise on condo plans (confirm boundaries & ownership)

  • Order updated Status Certificate  as appropriate (subject to title insurer grace period)

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Where your transaction includes a mortgage, the following additional steps will be undertaken:

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  • Advise on mortgage funding requirements

  • Coordinate with lender to add mortgage proceeds to closing funds

  • Register mortgage on title pursuant to lender instructions

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Real Estate Sale
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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

  • Receipt, review, and advise on any requisition (due diligence) requests from purchaser

  • Prepare statement of adjustments for closing

  • Prepare seller closing documents and arrange for signature

  • Review purchaser closing documents and arrange for signature

  • Receipt and release of closing funds and any applicable holdbacks

  • Release commission funds to real estate agents where applicable

  • Perform registration work pursuant to Document Registration Agreement (document registration)

  • Perform applicable undertakings to discharge existing mortgages from title

  • Provide final reporting letter to seller

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