However, the process involved with buying, selling, and transfer of property can be complicated. Both private individuals and businesses must go through a complex process to manage real property. To make sure you’re considering all the details of your transaction, consult a real estate lawyer at Western Legal Barristers & Solicitors.
Western Legal Barristers & Solicitors works with both residential and commercial properties in Alberta and beyond. We can help you with an array of real estate needs. Whether you are acquiring new property, selling what you currently own, or negotiating new financing, we can provide you with effective legal advice to guide you through the real estate process.
Whether you are purchasing your first house or investing in additional real estate, you likely have many questions about the real estate sales and purchase process.
Although there are residential real estate laws that address buying and selling houses and residential property, much of the industry functions according to local practice. When you are facing a residential real estate deal, you should work with a skilled real estate lawyer who can review necessary legal documents and make sure your interests are effectively represented.
Addressing Deficiencies, Repairs, Holdbacks, and More
Your REPC may require certain repairs to the property prior to purchase, or a home inspection may show deficiencies. Your home inspection report may show that the home is not up to building codes. There are many situations in which a buyer or seller will point out deficiencies, need for repairs, or request a holdback or change in the purchase price. At this point, you will want to engage in negotiation with the other party to find a resolution that is mutually acceptable for everyone. An experienced real estate lawyer can help you.
Disclosures by the Seller
Prior to buying your residential property, the seller will likely be required to provide disclosures. However, the seller’s obligation is limited. If you are a buyer, you will want to make sure that the seller is complying with all requirements. As a seller, you may want to adhere to the contract, but also protect yourself. By working with a skilled real estate lawyer, we can guide you through the disclosure process.
Working with a Real Estate Purchase Contract
There are many things to consider before you purchase or sell residential property. You must obtain a Real Estate Purchase Contract (REPC) that will contain established instructions and timelines. Your REPC may include conditions such as a house inspection or mortgage approval. These conditions must be met before you can move forward with your contract.
Obtaining financing for a property or refinancing real estate that you already own can be complex.
You may be required to reevaluate your property or disclose other assets you own as collateral. It can be difficult to find the right financer who understands your needs and will help you achieve your goals.
Securing Better Mortgage Rates or Terms
One of the primary concerns for buyers is to obtain the best rates and terms possible in a mortgage. Often, after several years, you may be able to refinance or otherwise obtain a mortgage that better suits your needs. A knowledgeable real estate lawyer with Western Legal Barristers & Solicitors can help secure the best possible financing.
Home Renovation Loans and Refinancing
As homes age, they often need work to make them livable and enjoyable for occupants. If you are seeking a home renovation loan or want to reevaluate your existing mortgage, a real estate lawyer can help. It’s best to compare loan options from multiple sources and obtain legal advice about which option is best for you.
If you need help with drafting a commercial or residential lease, Western Legal Barristers & Solicitors can help.
We are familiar with the needs of lessors and tenants, and we can create an agreement that works for both parties.
Can I Use a Lease Template?
Although you may be able to find templates for commercial and residential leases online, they will not address any of the specific needs you’ll have. Your lease should name your property and incorporate providence and local laws as well as customary clauses. A real estate lawyer can review your lease and make sure your interests are protected.
You deserve straightforward answers, personal attention, and the best possible result at a fair price. Western Legal has the knowledge and experience you can rely on for honest advice and real legal solutions when the outcome truly matters.
Lease option agreements are often called “rent to own contracts.”
These transactions give buyers and sellers the ability to protect themselves with a lease while transferring the ownership of a property. This can be beneficial to buyers who don’t have all the capital necessary to purchase a property in one transaction, and to sellers who wish to retain ownership until the purchase is complete.
Why Do I Need a Lease Option Lawyer?
While lease options offer important incentives to both buyers and sellers, it’s important to protect your assets and your rights throughout the process. A lease option lawyer can review your contract and make sure you have addressed all legal issues in the agreement. If there are concerns, your lawyer can advise you about resolution while maintaining your property.
When purchasing or altering your property, you must ensure municipal compliance and obtain necessary permits.
You may also have to obtain variances for certain codes that impact your property. Western Legal Barristers & Solicitors has extensive experience working with local codes throughout Yellowhead County, including towns like Edson, Hinton, Evansburg, Whitecourt, and Mayerthorpe. We will work with local authorities and ensure your property complies with all standards.
When moving from one province to another, you need a real estate lawyer who is familiar with the laws in different regions.
Relocation signings can be complex when the buyer and seller are in different areas. When moving from one province to another a relocation lawyer at Western Legal Barristers & Solicitors can help you navigate the legal issues that arise.
Which Geographic Areas Can Western Legal Help Me With?
Western Legal Barristers & Solicitors is located in Yellowhead County in Alberta. However, we can help with relocation throughout Canada. If you are moving into Alberta or out of the province, we can assist with real estate agency needs as well as other legal issues.
If you want to purchase or sell property outside of Alberta, Western Legal Barristers & Solicitors can help with agency signing services.
Our dedicated real estate staff can provide notary services as well. Contact our established real estate lawyer today for more information about how we can help with out of town transactions.
How Do Real Estate Transactions Differ from Town to Town?
Although Canadian real estate laws are similar among the various towns in Alberta, local practices may differ. Western Legal Barristers & Solicitors is familiar with local real estate agencies and other lawyers who handle properties locally. We can assist you in corresponding with these organizations and negotiating transactions that benefit your best interests.
Western Legal Barristers & Solicitors is conveniently located in the heart of Yellowhead County. However, we can help you with real estate transactions throughout Alberta. We are familiar with commercial and residential real estate in Edson, Hinton, Whitecourt, Evansburg, Mayerthorpe, or any other location where you need a real estate lawyer.
Although real estate law is similar in various locations, it’s important to work with a lawyer who is familiar with the geographic area in which you’re buying or selling. Property taxes, mineral rights, and other issues may be important in your area. Western Legal Barristers & Solicitors is familiar with the unique needs of people throughout Yellowhead County and Alberta. We can help you conduct a real estate transaction that keeps your needs in mind while protecting your future.