When purchasing a home in Ontario, the real estate legal fees can range; however, there are a few key indicators you should always look out for when choosing representation.
We understand–you’re already making one of the largest purchases of your life, do you really now need to fork out additional funds for a real estate lawyer?
Do you need a real estate lawyer in Ontario?
Yes, the Ontario title system requires that a lawyer register any transfers of title in Ontario. reason (and many others that we will cover in this article), you will require a lawyer to complete the transaction.
Remember, the short-term cost of using a quality real estate lawyer can, in the long run, help you avoid large, unnecessary expenses, along with potential legal trouble. Whether you are buying, selling, or sometimes refinancing, you’ll need a real estate lawyer in Ontario.
What other closing costs might I encounter when purchasing a home in the GTA?
Along with real estate lawyer fees, you can expect closing costs such as: Land Transfer Tax, Title Insurance, closing adjustments, utility setup, home inspection, property survey/appraisal and renovation fees. If you are in the City of Toronto—including North York, Etobicoke and Scarborough—there is a provincial and municipal land transfer tax, so expect to budget a little more. If you are a first-time home buyer in Ontario, you may be eligible for a land transfer tax refund equal to the full value of the land transfer tax up to a maximum of $4,000. For everything you need to know about closing costs in Ontario, click here.
How much are real estate legal fees in the GTA?
At Titlers Professional Corporation, we pride ourselves on transparency and providing our clients all the tools they need to make informed decisions. Our complimentary Real Estate Legal Fee Calculator is readily available to help provide a more accurate estimate of your real estate legal fees in the GTA.
Why do some real estate lawyers/transactions cost more than others?
When it comes to real estate law, every firm is different. Depending on the experience of the legal professionals and the type of service you receive as a client, the range of your real estate legal fees may increase or decrease.
When choosing a real estate lawyer in Ontario ask the following:
- Are they experienced in real estate law?
- Are they familiar with the geographical area?
- Do they have experience with similar properties?
- What are their costs?
- How is communication to the client set up at their firm?
At Titlers Professional Corporation in Port Perry, ON, we are dedicated to providing a personalized experience to our clients across Ontario, whether it be in person or through our seamless Contactless Closing experience.
A large part of the unique, personalized experience all clients receive at Titlers is due to our Client Service Representatives. Our Client Service Representatives are there every step of the way to ensure the legal process is easy and worry-free. In addition to being available to address your questions and concerns, your Client Rep will be keeping you informed throughout your transaction to ensure it is as smooth as possible. For more information about our unique process, click here.
When choosing a real estate lawyer in the GTA, be sure to ask if their fee quote is all-in or hourly fees plus disbursements.
Two common terms you’ll often hear are fees and disbursements. Fees refer to what lawyers charge for their time, expertise and services. Disbursements are out-of-pocket expenses paid to third parties on the client’s behalf (postage, printing, software fees, registration fees, service of documents, etc.).
Why Choose Titlers Professional Corporation?
At Titlers, we take the mystery out of your real estate legal fees. We offer affordable, all-in pricing with no hidden fees. Included in your experience with us is: reviewing purchase of sale, title searching, title insurance, usual disbursements, attaining your instructions, creating the documents, etc. Our Real Estate Legal Fee Calculator allows clients to get a detailed breakdown of how much their real estate legal fees will be prior to committing to the service.It should be noted that most lawyers do work at an hourly rate when you go outside the initial all-in retainer due to complexities, you’ll want to be mindful of your budget.
When you are making one of the largest purchases of your life, the last thing you should be worrying about is deciphering legal jargon to make the right decision. The right real estate lawyer can, not only take care of the necessities, but can ease your mind through an exciting, yet stressful, process. To learn more about real estate legal fees at Titlers Professional Corporation, contact our team today