Purchasing a home is one of the biggest investments that you will make. To make sure that your rights and interests are protected from the outset, contact your lawyer as early as possible in the process. Ideally your lawyer should review your Agreement of Purchase and Sale, which is a binding contract, prior to signing. This will help to ensure that all necessary provisions are included, and that issues do not arise later due to items which were overlooked or incorrect in the Agreement. Your lawyer can also help you to get an understanding of all of the costs included in buying a home. Please download our “Purchase Checklist” and/or our “Sale Checklist” and bring the completed form with you should you choose us to help with your real estate needs.

Provide your lawyer with a copy of your Purchase and Sale agreement if they do not have this already, as well as your mortgage information. Your real estate lawyer will conduct a title search, ensuring that there are no outstanding liens on the property, and will arrange for title insurance. Approximately one week prior to closing, we will meet with you; at this time we will need two pieces of photo identification, proof of property insurance, and the address to be registered on the deed. We will inform you of the total funds required to close the deal, including land transfer tax and any adjustments. On the day of closing all parties will sign the Agreement of Purchase and Sale and ownership will transfer to you. Our “Real Estate Closing Checklist” includes additional useful information for planning your purchase or sale.

As a general rule, no. There are certain limited defined circumstances where this is permitted.

Private real estate transactions can involve significant risk if not structured so as to protect your interests. It is recommended that you seek legal advice to protect your rights in this type of transaction. We are seeing more and more private deals and can provide valuable advice on your purchase or sale.

“Title” is a legal term meaning you have ownership of a property. When the owner signs the deed, or transfer document, over to you, title is obtained. Title insurance offers protection on your investment in case of a problem with title. Title insurance protects against the most frequently occurring losses related to the purchase of a home by transferring the related risk from the home owner to the title company. Title insurance protects the property owner from losses related to title or ownership of the property, such as: • Unknown title defects which can prevent you from having clear ownership (for example another person having an ownership in the property which does may not appear on the registered title); • Existing liens against the property as a result of unpaid utilities, property taxes, mortgages, or condo charges; • Title fraud (the use of forged documents to transfer title of your home to an individual or entity without your knowledge); • Encroachment or setback issues which must be remedied; • Any other title-related issues which can affect your ability to sell, mortgage, or lease your property. You are not required to have title insurance in Ontario. Your lawyer, title insurance company, or insurance agent can help you to decide whether title insurance would be advisable.