Remax sarnia realty inc., Brokerage
1319 Exmouth St. Sarnia,
ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market
ryan.gervais@sarnialistings.com

Who’s Afraid of the Big Bad Lawyer?

19
Apr
no Comments In Real Estate Real Estate Law

The legal process of purchasing a home.

In an earlier posting, I explained what a lawyer provides for a real estate client.  In short, a lawyer makes sure that what you are buying is free and clear of any encumbrances.  Many people who come into my office are not concerned about what the lawyer actually accomplishes as they are intimidated by the legal transaction process itself.

 For many real estate clients their first visit to a law office is when they are purchasing their home.  They come in and sit in front of a large desk and have confusing things explained to them by a person in a suit that they have never met before.  This doesn’t seem like a recipe for an enjoyable experience.

Visiting your lawyer should not add stress during this exciting time in your life, it should decrease your stress level.  By the time you get to the lawyer’s office most of your work and decision making regarding the transaction is complete.

For my clients I like to have an initial meeting shortly after I receive the agreement of purchase and sale from the client’s real estate agent.  This initial meeting helps the client to understand the timing of the process and identify issues that have to be resolved by the lawyer before the closing date.

At the initial meeting, the lawyer will get certain information from the client including but not limited to: name, contact information, the mortgage company that will be used, who will provide home owner’s insurance etc.

The client is free to ask questions about any concerns they have which will hopefully help ease their fears about the process.  I provide my clients with an estimate of what their final costs will be for the legal fees and their downpayment so they can have those funds available prior to the closing date.

After the initial interview the lawyer starts completing the necessary searches and preparing the closing documents.  During this time the client can simply plan to move in to their new home.

Shortly before the closing date, the lawyer will set up an appointment with the client to come in to sign all of the closing documents and provide payment representing their legal fees and downpayment.  Prepare to sign your name a lot.  Although we claim to be nearing a paperless world, the closing of a real estate transaction still takes plenty of paper.

The documents you will be signing are not terribly complicated and will be explained to you by your lawyer.  All closing documents will be exchanged with the other vendor’s lawyer and payment will be provided to the vendor for the property.

Finally, once the lawyer for the vendor instructs your lawyer to do so, they will release the keys so that you can take possession of your new property.

It’s a fairly simple process from the client’s perspective and should not be feared.  Your lawyer is working on your behalf to make sure your interest is taken care of.

If you have any questions about this process don’t hesitate to contact me regarding your upcoming real estate transaction.

Ryan Gervais

Ryan Gervais is a full time multi-award winning agent who is here to help you through your real estate journey. Ryan's main passion is to protect his clients greatest investment by making sure you buy a great house for a fair price. Reach out today and see for yourself the difference a great agent can make.

(519) 381-4055
ryan.gervais sarnialistings.com

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