LNZ Legal Firm LLP — Lawyer-Paralegal Law Firm

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Purchasing or Selling your Home

Real Estate Closings in Windsor, Ontario

No hidden fees. We explain all documents and invoices to you. Your file will always be reviewed by a lawyer, not just by a law clerk. 

Buying or selling a home is one of the biggest decisions you will make in your life. We guide you through the closing process. 

While most law firms use law clerks to do the majority or all of the work on these files, a lawyer will always review your file or do it personally. 

We never charge you hidden fees for “other” expense in your Account. We are known for being conscientious, honest, and dedicated to our clients.

Real Estate Closings in Windsor, Ontario

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Purchasing a home...

The first step you will take in a real estate transaction, when purchasing a home, typically involves making an offer to purchase, which is usually made through a document called the Agreement of Purchase and Sale, outlining the terms and conditions of the offer including the purchase price, deposit amount, closing date, and any other relevant conditions such as financing or home inspection contingencies. Once the offer is accepted by the seller, it becomes a legally binding contract and the process moves forward with inspections, financing arrangements, and ultimately, the closing of the sale

Procedure in closing a Purchase

  • Review the Agreement of Purchase and Sale for key dates and clauses;
  • Discuss the advantages of obtaining title insurance, order title insurance;
  • Search title to the property;
  • Conduct off-title searches, if necessary;
  • Prepare the requisition letter and send to seller’s lawyer;
  • Arrange to have the client set up new utility accounts;
  • Advise the client on options of how to take title to the property, e.g. Joint Tenants or Tenants-in-Common;
  • Calculate the closing costs, including Land Transfer Tax;
  • Prepare Account, trust statement, and package of documents for clients to review/sign;
  • Meet clients in person or by video to explain and sign documents;
  • Receive down payment, and mortgage funds (if applicable), into trust account, then transfer balance to seller on closing date;
  • Register the Transfer and Charge (if applicable);
  • Notify the property tax department of the change in ownership; and
  • Provide the client with a reporting letter, registered documents, opinion as to title or title insurance.

What your lawyer does for you when you purchase a home...

  • Reviewing the Agreement of Purchase and Sale: review the terms and conditions outlined in the Agreement of Purchase and Sale for key dates and conditions, such as requisition date, a home inspection or financing approval. Usually, your real estate agent will draft and advise you on this document. 

  • Conducting Title Search and Due Diligence: conduct a thorough title search on the property to ensure there are no liens, easements, or other encumbrances that could affect your ownership rights, although easements are common and often necessary. They may also review zoning bylaws, property taxes, and other relevant documents, depending on the situation.

  • Facilitating the Closing Process:  work with the seller’s lawyer, your mortgage lender, and other parties involved in the transaction to ensure that all necessary documents are prepared and signed. Funds need to be transferred prior to closing date.

  • Registering the Transfer/Charge: register the transfer of ownership through the appropriate Land Registry Office, as well as Charge (if applicable).

  • Addressing Issues: If any issues arise during the transaction, such as disputes with the seller or issues with the title, your lawyer will provide legal advice about your rights, how the initial agreement should be interpreted, and work with other parties to address the issues. The closing process is not formal litigation where one seeks to enforce their rights through the court system, but does not preclude litigation following closing. 

Selling your home

Your real estate agent will first assist you in this process. Once you've received an offer that you find acceptable, you'll formally accept it; the offer becomes a legally binding contract known as the Agreement of Purchase and Sale. Then, you will find a lawyer to assist you in the closing process. 

Procedure in closing a Sale

  • Review the client’s property tax bill, mortgage statement, possibly utilities, and rented asset contracts
  • Prepare Statement of Adjustments
  • Order mortgage statement for discharge purposes, if applicable
  • Respond to Purchaser’s lawyer’s requisition letter
  • Prepare/review Transfer, Acknowledgment & Direction, Direction re Funds, Vendor’s Closing Certificate, etc. 
  • Meet with client to sign & review closing documents
  • Receive balance into trust account on closing day
  • Work with buyer’s lawyer to register Transfer 
  • Arrange to disburse funds to mortgage company, realtor and client
  • Report and summarize the transaction to client

What your lawyer does for you when you sell a property...

  • Reviewing and Drafting Documents:  review the Agreement of Purchase and Sale once the agreement is executed by both parties, noting key dates and conditions. If you do not have a realtor, we may need to draft this agreement and the subsequent documents for you (at an additional cost). 
  • Prepare Statement of Adjustments: detail any payments that need to be made by either party to account for expenses such as property taxes, utilities, and other property-related costs. For example, if the seller has prepaid property taxes for the entire year but the closing date is before the end of the tax period, the buyer may need to reimburse the seller.
  • Preparing Closing Documents: Your lawyer will prepare the necessary legal documents for the closing of the sale, including the transfer, declarations, certificates, etc.. They will ensure that everything is properly completed and signed according to Ontario statutes
  • Facilitating the Closing Process: On the closing date, work with the buyer’s lawyer, the real estate agents, and any other relevant parties to ensure that all necessary documents are signed; funds are transferred appropriately to the trust account; and the title of the property is transferred to the Purchaser.
  • Disbursing Funds:  manage the disbursement of funds, including paying off any outstanding mortgages or liens on the property, paying the realtor, deducting legal fees and any other closing costs, and providing you with the net proceeds from the sale.

Fees

Our charges are always transparent. We will show you an account before closing so you can see all fees and disbursements for which you are being billed. 

Purchase Fees

  • Fee for acting on closing: $900 + HST 
  • Fee for mortgage:
    • $100 + HST for large banks
    • $200 + HST for B-tier lenders

Disbursements

Disbursements will almost always vary, but in the majority of closings, these are the typical disbursements: 

  • Registration of Transfer: $83.11
  • Registration of Charge (if applicable): $83.11
  • Software: $42 + HST
  • Title and Writ Searches: $150 to $400 on average
  • Title Insurance: $250 to $700 on average
  • Banking fees: $10 – $30
  • Land Transfer Tax: depends on price of property and whether someone is a first-time home buyer. The tax can be calculated yourself online
  • Occasional charges:
    • Additional software: $69 + HST
    • Property Tax Certificate: $85 + HST
    • Municipal Land Transfer Tax: depends on price of property
    • Condominium Status Certificate: $100 + HST
    • Remote signing ID verification: $5 * number of buyers and possibly spouses
    • NOSI discharge: $220  
    • Off-title searches: varies
    • Outgoing wire fee: $45 

The above charges are only the most typical, and your closing may be different or there may be unforeseen charges not listed above. 

Sale Fees

  • Fee for acting on closing: $750 + HST 

Disbursements

Disbursements will almost always vary, but in the vast majority of cases, these are the typical disbursements: 

  • Software: $42 + HST
  • Banking fees: $20 – $60
  • LSO Fee: $65
  • Occasional charges:
    • Property Tax Certificate: $85 + HST
    • Remote signing ID verification: $5 * number of sellers and possibly spouses
    • Outgoing wire fee: $45
    • Drafting agreements and amendments: varies

The above charges are only the most typical, and your closing may be different or there may be unforeseen charges not listed above.