Here is a list of things that should be included in your contract of services to be performed by your lawyer when you make condominium or freehold home purchases:
- Review executed agreement of purchase and sale. Drawing or negotiating agreements or other negotiating will involve an additional fee,
- Investigate title, make requisitions on title and or other matters recited in the agreement,
- Search for arrears of realty and all other taxes and rates constituting statutory liens,
- Advise on the applicability of HST legislation
- Search for executions (judgements against the seller or the buyer)
- Review the transfer (deed) and prepare the charge (mortgage), either a vendor take-back mortgage or a mortgage when a lender provides the funding,
- Review statement of adjustments and arranging title insurance if applicable,
- Subject to the use of title insurance make such examinations of survey (if available) or zoning, building bylaws, and work orders as is necessary and reasonable,
- Answer any questions of purchaser relating to title, zoning and statement of adjustments while attending to execution of documents;
- Arrange for closing, giving opinion on title of the property and provide title policy, reports and all other related services.
Add the following for a condominium purchase:
- Advise client on how to review condominium documents;
- Check the description; verify there’s a a place to park, if applicable,
- Obtain and review status certificate from condominium corporation,
- Examine condominium unit plan, if available.