REAL ESTATE SALES - FLAT RATE LOW LEGAL FEE - RANBIR THIND & ASSOCIATES - 780.432.7000
Our firm has been dealing with real estate transactions since 2004 and we have efficient staff to deal with real estate transactions be it a sale, purchase or financing of your house or condominium. Whether you are a builder buying or selling a property or an individual(s) buying or selling your house or condo or are refinancing an existing property, our highly experienced team at Ranbir Thind & Associates will make your Real Estate transaction a smooth transaction. Please phone us at 780.432.7000 or contact us online to discuss more about your real estate sale transaction.
1. Please ensure that the Offer of Purchase and Sale specifically refers to which Chattels are included or excluded from the purchase (e.g. appliances, mirrors, drapes, light fixtures, etc.).
2. Is there a home warranty on the house which can be assigned to a Purchaser? Is there any landscaping deposit which is held by the developer/builder and if yes, please ensure that it is mentioned in the Offer that the purchaser will provide the landscaping deposit to seller upon closing in exchange of landscaping deposit of assignment?
3. Are there any significant improvements made to the house recently. Are the original or other plans and specifications available to a Purchaser? These can be positive selling features and should be brought to the Purchaser’s attention.
4. Please always confirm in writing of the amount of commission payable to the real estate agent, who is responsible for it and when it is payable (In most cases, it is the seller who is responsible for both side realtors' fee)
5. Please ensure that reasonable time limits have been placed on any matters which have to be completed or complied with before closing such as providing the Real Property Report with Compliance etc. which shall be ordered as soon as possible to ensure that there is sufficient time before closing to obtain any additional permits which may be required by the local municipality.
Common Steps for Sellers in Real Estate Sale Transactions
STEP 1: If you have a realtor, provide your realtor with the complete contact information of your lawyer so that your realtor’s office forward the conveyancing instructions (contract etc.) to your lawyer but if you do not have realtor, forward a copy of the sale agreement and any amendments etc. to your lawyer plus also provide the buyer's lawyer name.
STEP 2: Your real estate lawyer’s office will contact you and may ask for the following information/documents. Please provide the following information or documents as soon as possible preferably one week to ten days in advance of closing date:
- Your complete contact information so your lawyer knows how to reach you.
- Information regarding your current mortgage/line of credit – Your mortgage account number and the branch where your account is held. This may be required to obtain a payout statement.
- Confirmation of your marital status (single, married, divorced, separated).
- If you are selling a house or bare land condo, an Original or a legible copy of Real Property Report with Compliance (if available).
- If you are selling a condo, your Property Manager’s contact information.
FREQUENTLY ASKED QUESTIONS – REAL ESTATE SALES
What happens after I sign the real estate documents with my lawyer?
- Your lawyer will send the transfer documents to the buyer’s real estate lawyer.
- On the possession date, the buyer’s real estate lawyer will send the cash to close (balance of purchase price) to your lawyer usually around noon.
- Once your lawyer receives the cash to close, the lawyer will authorize release of keys.
- The mortgage or other encumbrance registered on the title to the property, unpaid taxes, condo arrears, real estate commissions and legal fee/disbursements will be paid by your lawyer and the balance will then be paid to you.
When can I cancel my property’s fire insurance?
It is recommended that you do not cancel your property’s fire insurance until you have actually received the sale proceeds.
When do I receive the sale proceeds. Is there of chance of delay in closing?
You will usually receive the net sale proceeds on the afternoon of the possession date or the next working day following possession. There are a number of factors that may prevent the deal from not closing on time such as the buyer’s mortgage lender did not fund the mortgage in time or the seller’s lawyer have not provided the closing documents to buyer’s lawyer in time.
OUR LEGAL FEES:
Please take a moment to review our highly competitive legal fees for services related to real estate transactions, which is one more reason why you should retain a real estate lawyer at Ranbir Thind & Associates.
- House/Condo Sale $500.00
- House/Condo Purchase $500.00
- House/Condo Purchase with Mortgage $600.00
- Mortgage Refinancing $500.00
NO EXTRA/HIDDEN LEGAL FEES FOR QUICK CLOSINGS. FILE OPENING/MAINTENANCE FEE, GST AND DISBURSEMENTS ARE IN ADDITION TO THE ABOVE QUOTED LEGAL FEES. PLEASE CHECK OUR FLAT RATE REAL ESTATE LEGAL FEES PAGE FOR MORE DETAILS OR PHONE US AT 780-432-7000 TO GET A QUOTE.