Buying or selling real estate is an exciting process. For most people, it is the biggest purchase they will make in their lifetime. You want to make sure the process runs smoothly. As you will soon see, there is a wealth of information on the Galbraith Law website that will answer most, if not all, your questions and concerns.
Start by looking at our page on Fees and Billing to see how our all-inclusive flat fee billing system can provide you with certainty and peace of mind, at least when it comes to the question of legal fees.
The important section on Cashbacks and Holdbacks provides guidance on what to do when there are unresolved issues that will not be solved by the completion day. This area can be tricky so please read this section very carefully.
Development permits, building permits and inadequate real property reports are likely the biggest source of delay and frustration when it comes to a clean closing. If you are selling, read this section as preventive medicine to avoid problems before they arise. As a buyer, familiarity with these issues will lead to a smoother closing.
Our section on Property Taxes digs deep into the complex calculations we do on a routine basis to make sure both the seller and the purchaser pay their fair share of property taxes and no more.
Look at Purchase – Preliminary Matters for helpful information about items that are typically included in the real estate purchase contract and hot topics such as deficiencies, repairs, holdbacks and all that stuff. Make sure you read the section about changing the purchase price to avoid complications later on in the process.
In the Purchase – Mortgage Financing and Insurance section we provide information to help smooth the entire mortgage funding process. Find out about your money and when it has to be ready. This section also contains valuable information on what must be in your insurance policy.
The Purchase – The Closing sections answers the most common questions that can interfere with a smooth closing. There are special sections for both condominium purchases and house purchases. We also tell you exactly what is required from you to ensure a smooth closing.
Purchase – New Housing looks at the special issues when you are buying a brand new home from a developer or builder.
In the Purchase – Miscellaneous section you will find information about the valuable role realtors play, the workflow and issues that arise when the seller is a nonresident taxpayer.
Sale – Timing and Release of Money looks at the question uppermost in the minds of every seller: how long does it take to do the deal and when do I get my money?
If you are selling a condominium then make sure you read Sale - Condominiums for a review of the special issues that apply to you. If you have any concern that you may be living in a bare land condo we look at this issue as well.
Sale Payouts let you know about the timing of payouts such as mortgages or other financial encumbrances registered against the title. There is also information about homeowner associations and the payment of their fees. Finally we look at the important issue of making sure the realtor is paid their commission.
The Dower Act, bridge financing or interim financing, the important role of realtors, special considerations when the seller is a nonresident of Canada for income tax purposes and dealing with an estate sale are all addressed in this section titled Sale – Miscellaneous.