Why You Need a Real Estate Law Firm for Residential Sales and Purchases
A skilled lawyer can reduce time and stress during your residential sale or purchase. We can evaluate your contracts and real estate documents, as well as help you negotiate favorable terms. Although you do not have to use a lawyer when handling residential sales, you can eliminate the stress associated with negotiations by seeking knowledgeable legal advice.
When a lawyer reviews your sale agreement, they can ensure the conditions, terms, timeline, representations, and warranties are in legal compliance and in your favor. Many purchase agreements include standard terms or templated conditions. These should be reviewed by a lawyer to make sure they apply to your specific situation.
Our staff can develop a legal plan that meets your specific needs. Whether you need a simple contract review or someone to walk you through the real estate purchase process, Western Legal can help. We focus on efficient legal advice that addresses your concerns. We will make sure your real estate purchase agreement and other documents work for you.
Real Estate Title Search
One of the first steps involved in buying and selling a residential property is conducting title search. This involves looking through government documents to ensure there are no challenges to the ownership or title of the land. It’s also important to make note of any mortgages or other debts registered to the property.
A real estate law firm can conduct this search for you. At Western Legal Barristers & Solicitors, we are familiar with Alberta databases that will provide all the necessary information for a title search. We will provide you with a payout statement for each debt associated with the residential property and an exact amount owed.
Drafting a Real Estate Purchase Agreement and Other Documents
When buying or selling a residential property, you will need a multitude of documents, including a purchase agreement. Although many people use templates from the internet, those documents will not address every situation you will encounter. You should have a real estate purchase agreement lawyer review your contract and other documents or draft them for you.
We can also send the documents to the other parties involved in your transaction. When buying and selling, you must meet many deadlines to ensure your purchase is completed in a timely manner. We can make sure your documents are accurately drafted and transferred to the other parties appropriately.
Western Legal Barristers & Solicitors can help you save money on real estate commission fees. While other agents may charge a percentage of your costs, we can provide you with purchase agreements and other documents for a much lower cost.
Receiving Funds to Pay for Real Estate
When dealing with a real estate transaction, you will likely be sending or receiving a large amount of funds. You may be transferring money from a bank to another party or receiving funds from a buyer or financing company. Western Legal Barristers & Solicitors can handle those funds for you. We will make sure any property taxes, liens, and mortgages are properly paid and all parties receive an accurate amount for the real estate transfer.
Real estate funds are often taxed or must be deposited into special accounts. Western Legal can serve as an intermediate party that records the proper amount of funds for each party and pays the government its fair share. If your funds are being transferred into or out of Alberta, we can assist with out of area bank transfers as well.
Recreational Acreage Real Estate Purchase Contracts
Parcels of land that are larger or not located within a city or municipality are often referred to as recreational acreage real estate. These parcels have unique characteristics that must be addressed, including sewer systems and water potability. When drafting purchase contracts for recreational acreage, you must consider these issues to make sure your interests are protected. A recreational acreage real estate lawyer can review your documents or draft them to incorporate all the necessary concerns.