I’m Buying A House: When Do I Need A Lawyer?
Posted by on May 16, 2019 in Blog, Real Estate Law
In Alberta, government standards require homebuyers and sellers to employ a lawyer to ensure the legal status of the land sale. Selling or buying a home? Contact or visit Heritage Law today! Our tips below will help prepare you for the process of the legal sale or purchase of real estate.
TIP #1:
Your chosen lawyer may or may not specialize in real estate law. While a specialization indicates a high level of experience in or understanding of the field, most lawyers would able to help you fulfill the legal requirements of buying or selling a house. Heritage Law has many professionals on staff with backgrounds and specializations in the legal world connected to real estate.
TIP #2:
Lawyers can access databases quickly and easily. Offices such as Heritage Law retain staff to ensure our home-buying clients have the latest information from Alberta Land Titles, municipal property taxes, and other databases. These searches will reveal serious issues such as liens or defects.
TIP #3:
Employing a lawyer can help limit your liability. Should the worst happen and your home’s real property report is disputed, your real estate lawyer will be held accountable for any costs or penalties associated with the misinformation. An experienced legal professional may also have connections to reputable home inspectors and other useful services.
TIP #4:
Real estate lawyers can actually save you money in the long run. While legal representation must be compensated, you are free to shop around to choose the service that best fits your needs and budget. Also, as stated above, professionals experienced in real estate law can help you avoid unexpected costs down the road.
TIP #5:
A lawyer will make sure the money is handled prudently and securely. On the day that the sale is closed, the representation of the seller will forward the necessary documents to legally transfer the Land Title. In exchange, the buyer’s lawyer will forward the funds and arrange for the keys to be collected. Due to tight deadlines, it is essential you have a responsible lawyer in your corner.
Buying or selling a house? Planning to do it soon? Start here at Heritage Law to ensure you are protected by experienced representation.
Photo by Scott Webb on Unsplash
