Purchasing or selling a home is an important transaction for any individual, whether it be a first-time home buyer, an existing homeowner or an investor. It is imperative to have proper legal consultation prior to entering into any kind of real estate transaction and you will require a lawyer to provide legal advice and assistance throughout the process to ensure your are protected and that the transaction will close as per the terms of the agreement between all parties.

At UL Lawyers, we pride on our mission to exceed client expectations and generate outstanding results to meet our clients needs, in fact our team strives to ensure that all parties involved in a transaction, such as your Realtor and Mortgage Broker, appreciate the importance of handling the transaction in proficient and forthright manner. Our team of Real Estate Lawyers covers an extensive range of Real Estate transactions in Residential Purchases, Residential Sales, Private Mortgages, Mortgage Refinance, Discharge of Mortgage and Title Transfers.

PURCHASE

Prior to purchasing a home, it is imperative that a buyer make all necessary arrangements to ensure the real estate transaction goes smoothly in an efficient and expedited manner. In a situation where the buyer requires financing, arranging for a mortgage with a proper institution is necessary. A buyer can seek a mortgage from a banking institution or a private lender and in some cases, a buyer may proceed with even a 2nd mortgage, which is contingent upon various circumstances such as the buyer’s credit rating and down-payment made towards the property.

The lawyers at our firm will ensure the following:

  • Titles Searches are conducted in a timely fashion in accordance with the date specified on the Purchase and Sale Agreement;
  • There are no claims listed against the property;
  • Arrange for Title Insurance;
  • There is valid title upon closing;
  • Property taxes have been paid buy the seller until the day of the closing;
  • All previous Utility Bills owed by the seller have been paid;
  • Calculate the land transfer tax due to the Province of Ontario;
  • Draw up all mortgage documents;
  • Calculate any closing adjustments payable;
  • Ensure the fire insurance policy is effective from the date of the closing and that the policy mentions the lender as the beneficiary;
  • Arrange for the fire insurance policy binder to be sent to the lender;
  • Confirm all legal and financial conditions are met by the buyer;
  • Forward all requisite documents to the lending institution and seller’s lawyer; and
  • Exchange keys with the seller’s lawyer.

At UL Lawyers, we believe in transparency and establishing a relationship of trust at the onset of our representation. In order to avoid any miscommunication, it is our opinion that prospective and existing clients should be advised of what they will be paying for legal services sought. At UL Lawyers, we do not believe in charging hidden fees and believe in being up front and providing complete disclosure.

If you are purchasing a home with a regular lot, our fees start at $699.99 plus HST. Please be advised that this fee does not include:

  • Title Insurance;
  • Land Transfer Tax or Municipal Land Transfer Tax (applicable to City of Toronto only);
  • Government Registration Fees;
  • Last minute /Rush Closing (if file is received within 5 business days);
  • Additional Search Fees for Part Lot neighbouring Land Parcels (not applicable to all transactions);
  • Additional Fees for representing Bank/Lender (not applicable to all transactions)
  • Additional hours spent on the subject matter contingent upon complexity;

In addition, our firm charges disbursements for paper, fax, long distance telephone calls, courier, software registration, travel, bank draft etc. and can range between $150.00 to $350.00.

While most purchase real estate transactions are simple and to the point, there is always a chance of some sort of complexity arising that is out of the control of the buyer and lawyer representing the buyer. For example, there could be a delay in closing the transaction or the seller has not moved out and additional time is spent your matter by a lawyer at our firm, an additional fee will be applicable. This additional fee can be in the range of $50.00 to $300.00 plus HST contingent upon complexity and whether a junior or senior lawyer has worked on your file and the number of additional hours spent on resolving the complexity.

In the event your matter is complex and there is a delay or anticipated delay, our firm will notify you in advance advising of the current situation and as such there will be no surprises at the time, we provide our invoice. If you require our representation for a closing within 5 business days of the date of the closing, an additional flat fee in the amount of $200.00 plus HST is applicable. For each time a closing is delayed, an additional flat fee in the amount of $150.00 plus HST is applicable regardless of which party delayed the closing.

For further information, please email us at realestate@ullaw.ca or call 905 744 8888 to speak with a Lawyer at our firm.

SALE:

Several complexities may arise at the time of selling a home and therefore legal representation is imperative in a scenario as such. A Real Estate Lawyer at the time of a sale will assist with the following:

  • Review the Agreement of Sale prior to execution;
  • Prepare the deed of the home;
  • Remedy any title issues that may arise;
  • Ensure all legal and financial conditions have been met;
  • Make payouts to the mortgagees on the subject property;
  • In the event the home is a matrimonial home, ensure consent of all required parties;
  • In the event a Power of Attorney is required, ensure it is valid and in accordance with the law;
  • Advise when the Fire Insurance Policy should be canceled, being considerate of whether the property will be vacant for more than 30 days and cover the risk of the property being vacant;
  • Ensure all payments for utilities are made to the date of the closing;
  • Ensure all property taxes have been paid to the date of the closing

At UL Lawyers, we believe in transparency and establishing a relationship of trust at the onset of our representation. In order to avoid any miscommunication, it is our opinion that prospective and existing clients should be advised of what they will be paying for legal services sought. At UL Lawyers, we do not believe in charging hidden fees and believe in being up front and providing complete disclosure.

If you are selling a home, our fees start at $599.99 plus HST. Please be advised that this fee includes:

  • Review of the Agreement
  • Communication with your realtor regarding commission
  • Discharge of one mortgage payout/line of credit
  • 1 in person meeting with your lawyer for signing documents
  • Preparation of all requisite legal documentation for the closing;
  • 24/7 access to your lawyer and clerk via email

In addition, our firm charges disbursements for paper, fax, long distance telephone calls, courier, software registration, travel, bank draft etc. and can range between $150.00 to $250.00.

For every additional payout at the time of discharge, a fee in the amount of $100.00 plus HST is applicable per payout. In the event your matter is complex and there is a delay or anticipated delay, our firm will notify you in advance advising of the current situation and as such there will be no surprises at the time, we provide our invoice. If you require our representation for a closing within 7 business days, of the date of the closing an additional flat fee in the amount of $100.00 plus HST is applicable. For each time a closing is delayed, an additional flat fee in the amount of $125.00 plus HST is applicable regardless of which party delayed the closing.

For further information, please email us at realestate@ullaw.ca or call 905 744 8888 to speak with a Lawyer at our firm.

REFINANCING YOUR HOME:

Refinancing your home in simple words means replacing your existing mortgage with a new mortgage with a different or same lender. There can be many reasons for refinancing your home. For example, the value of your home has gone much higher and you want to pull more cash out of your property and access the funds for investments, perhaps debt consolidation, may be the new lender is offering a better interest rate, or you want to shorten the term of your mortgage or may be convert your adjustable mortgage to a fixed mortgage or vice-versa.

Refinancing your home can be a difficult task, in particular, if the new lender is not an institutional lender. The demands at times are much more, especially if you have a low credit rating or may have declared bankruptcy in the past.

The lawyers at our firm will steer you through the process in detail and advise of the various legal issues that may arise in the near future and accordingly offer legal advice to protect you in the long run.

At UL Lawyers, we believe in transparency and establishing a relationship of trust at the onset of our representation. In order to avoid any miscommunication, it is our opinion that prospective and existing clients should be advised of what they will be paying for legal services sought. At UL Lawyers, we do not believe in charging hidden fees and believe in being up front and providing complete disclosure.

If you are refinancing a home with an institutional lender, our fees start at $699.99 plus HST. Please be advised that this fee includes:

  • Title Search;
  • Communication with your lender regarding the payout;
  • Preparation and registration of new mortgage;
  • Discharge of one mortgage payout/line of credit;
  • 1 in person meeting with your lawyer for signing documents;
  • 24/7 access to your lawyer and clerk via email
  • Title Insurance and Registration fees are not included in this fee

In addition, our firm charges disbursements for paper, fax, long distance telephone calls, courier, software registration, travel, bank draft, bank wiring etc. and can range between $150.00 to $300.00.

For every additional payout at the time of discharge, a fee in the amount of $100.00 plus HST is applicable per payout. In the event your matter is complex and there is a delay or anticipated delay, our firm will notify you in advance advising of the current situation and as such there will be no surprises at the time, we provide our invoice. If you require our representation for a closing within 5 business days, of the date of the closing an additional flat fee in the amount of $150.00 plus HST is applicable. For each time a closing is delayed, an additional flat fee in the amount of $125.00 plus HST is applicable.

For further information, please email us at realestate@ullaw.ca or call 905 744 8888 to speak with a Lawyer at our firm.

PRIVATE MORTGAGES:

Interest rates charged for Private Mortgages are much more compared to mortgages that are loaned by Banks and Institutional Lenders. There are different scenarios in which a private mortgage may be required. For example, not having a long-term credit history, bad credit score, foreign investors, short term property investors, non-residents of Canada, outstanding taxes owed to Revenue Canada, court order for child or spousal support payments etc. There can be a situation where you already have an existing first mortgage and if there is enough equity in your home, you may take out a second mortgage on your property.

The lawyers at our firm will thoroughly review your private mortgage deal whether it is from the prospective of a lender or borrower and we will further determine what the loan to value ratio is and whether there it is a safe or risky deal.

For example, if you are a lender looking to advance a second mortgage to a borrower, there are several factors to take into consideration. What is the current value of the property? Do we require an appraisal? Does the borrower owe any outstanding taxes to Revenue Canada? Are there any outstanding Judgments against this borrower? Any other liens against the property? Is the borrower going through a divorce and will there be a transfer of title? Several factors come into play and it is in a scenario as such that you need a Real Estate Lawyer who will be meticulous and carefully examine the deal and advise whether it is even worth lending to such a borrower.

If you are a borrower, we will examine the private mortgage agreement for you advising you of the term of the mortgage, whether there would be any renewal fees upon the term being renewed, if the principal amount is paid before the expiry of the term what the applicable penalty is, the amount of lender and broker fees owed etc.

The lawyers at our firm will navigate you through the process in detail and advise of the various legal issues that may arise in the near future and accordingly offer legal advice to protect you in the long run.

At UL Lawyers, we believe in transparency and establishing a relationship of trust at the onset of our representation. In order to avoid any miscommunication, it is our opinion that prospective and existing clients should be advised of what they will be paying for legal services sought. At UL Lawyers, we do not believe in charging hidden fees and believe in being up front and providing complete disclosure.

For a private mortgage, acting for the Lender our fees range between $1,400.00 to $2,200.00 plus HST. Several factors are taken into consideration due to the nature of the complexities that may arise in such a transaction.

In addition, our firm charges disbursements for paper, fax, long distance telephone calls, courier, software registration, travel, bank draft, bank wiring etc. and can range between $150.00 to $300.00.

If you require our representation for a closing within 5 business days, of the date of the closing an additional flat fee in the amount of $200.00 plus HST is applicable. For each time a closing is delayed, an additional flat fee in the amount of $150.00 plus HST is applicable.

For further information, please email us at realestate@ullaw.ca or call 905 744 8888 to speak with a Lawyer at our firm.

At UL Lawyers, we believe in transparency and establishing a relationship of trust at the onset of our representation. In order to avoid any miscommunication, it is our opinion that prospective and existing clients should be advised of what they will be paying for legal services sought. At UL Lawyers, we do not believe in charging hidden fees and believe in being up front and providing complete disclosure.

For a private mortgage, acting for the borrower our fees range between $500.00 to $750.00 plus HST.

In addition, our firm charges disbursements for paper, fax, long distance telephone calls, courier, software registration, travel, bank draft, bank wiring etc. and can range between $150.00 to $300.00.

If you require our representation for a closing within 5 business days, of the date of the closing an additional flat fee in the amount of $100.00 plus HST is applicable. For each time a closing is delayed, an additional flat fee in the amount of $125.00 plus HST is applicable.

For further information, please email us at realestate@ullaw.ca or call 905 744 8888 to speak with a Lawyer at our firm.