1. Do I need a lawyer when I sell my home?
The answer to this question is ‘Yes’ and there are several reasons for this.
- The inexperienced and unsuspecting seller may be walking into a trap which may end up costing you more money in the long run and sometimes a lot more money. Most sellers do not know the legal issues that may arise from a real estate transaction. An experienced lawyer will properly deal with these issues on your behalf to ensure that the purchase of your new home is stress-free and free of any further legal issues down the road.
- Hiring an experienced lawyer will also ensure that your new home will be available to you on time and that contracts have been reviewed and explained to you prior to signing.
- He will also ensure that you receive the full amount of money you expected from the selling process and that your legal rights and financial interests are protected.
2. When should I get a lawyer involved?
- The best time to get a lawyer involved is as soon as possible. A lawyer can start working to protect your interests the minute you hire him. You should hire an experienced lawyer before you sign an agreement with a real estate agent to list your home or “Listing Agreement”
- It is especially important to consult a lawyer in situations where an offer to purchase your home contains any kind of unusual conditions or stipulations which by their nature or wording is not considered to be standard. In cases of non-standard financing and inspections clauses included for the benefit of the buyer, lawyers can protect you from legal problems that may arise. In the event that your sale transaction does not proceed as you originally intended, an experienced lawyer can ensure that the sale contract includes the necessary legal language to protect you.
- Details are very important in a real estate transaction. An item incorrectly set out or overlooked in the original sale agreement can develop into a legal issue or dispute between the buyer and seller down the road. The only way to ensure that this does not happen to you is to involve an experienced real estate lawyer early in the process of selling your home.
3. How do I choose a lawyer to represent me for the sale of my home?
The easy answer here is to choose a Real Estate lawyer that has a track record and background in the Real Estate Law. Typically, you should choose someone that does a lot of Real Estate work and has had many years of experience protecting the rights of his clients. The best lawyer to protect your interests in the home selling process is the one who has dedicated a large portion of his practice to Real Estate.
Paul Settimi has been practising law for over 25 years now and has opened his own General Practice here in the heart of the city where he has 2 full time Law Clerks and a full time Conveyancer. Due to high demand he has also opened a second office in Grimsby in order to be accessible to all of his Niagara based clients, as he has lived in Grimsby for the past 23 years.
Paul has a general practice that focuses primarily on Real Estate law, dealing with Residential, Commercial and Mortgage Transactions. Over the years he has closed over 7000 Purchase, Sale and Mortgage transactions.
4. What do I do when I have the opportunity of selling my home “privately”?
Sometimes properties are bought and sold without the involvement of real estate agents. If this is the case, either the sellers’ or buyers’ lawyer would have to prepare a purchase/sale contract. You would need to provide the information to your lawyer who will ensure that the contract contains the necessary safeguards to protect you.