Hiring a Lawyer

Below is the list of Lawyers that I recommend to my clients. It is always a good idea to hire a lawyer during your real estate transaction. Your lawyer, just like your REALTOR® will work to protect your position and look out for your best interest.

Jeffrey Kahane
Jeffrey KahaneReal Estate Lawyer
(403) 225-8810
info@kahanelaw.com
www.kahanelaw.com

7309 Flint Road SE
Calgary AB T2H 1G3

Ryan MacKay
Ryan MacKayReal Estate Lawyer
(403) 800-8000
info@mackaylaw.ca
www.mackaylaw.ca

106-8060 Silver Springs Blvd NW
Calgary, Alberta T3B 5K1

David Oke
David OkeReal Estate Lawyer
(403) 543-7750
reception@firstwest.com
www.firstwest.com

Suite 100 – 1501 1st Street SW
Calgary, AB T2R 0W1

If not sooner, you will meet with your lawyer once you have a firm offer to purchase. (Firm, meaning that all conditions have been waived) Your lawyer will receive all of the necessary documents they will need to go ahead with their part of the sale from your REALTOR® or their office. Typically your lawyer will want to book an appointment with you for 1-2 weeks before possession day to finalize the legalities of your transaction. They will confirm what to bring with you when you come. (Very likely, that list will include the following items.) Your lawyer will review their role and its entirety when you meet with them.

You will need to find and meet with a real estate lawyer. Your lawyer will go over the legal documents with you, including the RPR and the title. They will also highlight any possible restrictions or caveats registered against the property, discuss closing costs and disbursements, and have you sign the documents to transfer the property’s title to you after your lawyer advances the purchase funds to the seller. You’ll need to bring photo ID to your meeting with your lawyer. Some lawyers require two pieces of identification. Ask your lawyer specifically what forms of ID they accept.

Title Insurance

Your lawyer will also discuss title insurance with you. Title insurance works like a standard insurance policy, and protects against future discoveries about the insured property. It is a form of indemnity insurance for a mortgaged property. As insurance, it covers the loss of an interest in a property due to legal defects.

There are two types of title insurance:

lender’s title insurance policy, which the borrower usually pays for, is for the sole benefit of the mortgage lender. Your lender may require title insurance and you, as the buyer, will have to pay for it. It is for the sole benefit of the lender.

Owner’s title insurance is a separate policy where either the buyer or seller pays the insurance premiums to protect the buyer’s equity in the property. This title insurance may relate to coverage for title and non-title issues. For example, title insurance can cover future title fraud (i.e. if through fraudulent transactions and paperwork, someone loses title to a property they legally own – title insurance can assist in getting title back).

Once you’ve met with your lawyer and signed the documentation, including mortgage documents (if obtaining a mortgage), it’s really just a matter of waiting for the possession date. During the waiting period, you can:

  • arrange for your mail to be forwarded to your new address through Canada Post
  • schedule your utility hook-ups (electricity, gas, cable, etc.)
  • arrange for home insurance to take effect as of possession day or when you move in, whichever is earlier
  • hire a moving company (if using)

Additional Closing Costs

Beyond your lawyer fees and title insurance costs (if any), you may also have to pay other closing costs, including property tax adjustments. Because of the way property taxes work, you may be required to reimburse the seller some of the property taxes they’ve paid to their municipality in the current year. Your lawyer can provide you with more information about these costs. Talk to your real estate professional about your market and what costs you should expect.

What to Bring to Your Signing Appointment:

As a Buyer:

  • Two pieces of ID for every person signing

  • A void cheque for the account that you want your mortgage payments to come out of OR a pre-authorized debit form from your bank.

  • Confirmation of House Insurance

  • The remaining amount of the down payment in the form of a bank draft

As a Seller:

  • Two pieces of ID for every person signing

  • A void cheque for the account into which you want your sale proceeds direct deposited

  • Your RPR (Real Property Report) with Stamp of Compliance.