The lawyers at Fox Law assist their clients in the buying and selling of residential and commercial properties, mortgage refinancing, as well as with land use planning applications.
Fox Law has assisted clients with buying and selling their first home, condominiums, rental and income properties, commercial properties, farm properties, vacation properties and cottages, apartment buildings, mixed use properties and on both new construction and resale properties.
The lawyers at Fox Law are responsible for protecting your interests in your real estate transaction. When purchasing a property, some of the tasks the lawyers at Fox Law may undertake on your behalf include:
- Reviewing an executed Agreement of Purchase and Sale;
- Investigating and searching title to the property;
- Confirming that property taxes have been paid and are up to date;
- Registering the deed in your name;
- Arranging for title insurance;
- Reviewing any mortgage terms with you and ensuring the documentation is signed;
- Handling the transfer of funds;
- Arranging for the exchange of pertinent documents with the party on the other side of the transaction; and
- Arranging for the exchange of keys on closing.
The lawyers at Fox Law will:
- Keep you informed throughout the process – they will communicate with you, the seller’s lawyer and the bank in preparation for closing;
- Conduct the searches required to ensure you receive good title to the property you are buying;
- Arrange for title insurance to protect your investment;
- Review the fees and adjustments with you, to ensure you are paying the correct amount;
- Meet with you to review, explain and sign all required documents;
- Close the purchase, register you as the owner of the property and provide you with the keys to your home; and
- Provide you with a written report of your purchase following closing.
Residential & Commercial Real Property Purchases – Purchasers of real property in Ontario are required to pay Land Transfer Tax to the Province of Ontario on closing, pursuant to the Land Transfer Tax Act (as of December 13, 2007). Pursuant to the Land Transfer Tax Act (as of December 13, 2007). First time homebuyers may be eligible for a full or partial refund.
Commercial Real Property Purchases – In addition to Land Transfer Tax, HST is generally chargeable on a commercial real estate transaction. The vendor must collect and remit the HST payable on the sale of a commercial property.