Residential Purchase

What we can offer you

The Agreement of Purchase and Sale is the key to the completion of the sale. Therefore, whenever possible, I would like the opportunity to review your Agreement of Purchase and Sale before you sign it or at least before you have waived all of the conditions. However, the reality is that most Agreements of Purchase and Sale are finalized before they reach the lawyer. I must then work within the rules and terms contained in the Agreement of Purchase and Sale you have signed. The Agreement of Purchase and Sale is a binding contract between you and the vendor. Each of you is required to honour and abide by its terms and conditions.

Purchasers relied on the lawyers’ Letters of Opinion since the early 19th Century to guarantee their title to the property they purchased. Modern conveyancing and The Law Society of Upper Canada, have now recognized the value and benefit of title insurance in one form or another. Title insurance is now used in all of our real estate purchase and mortgage transactions. It satisfies all of the requirements of the mortgage lenders. Title insurance is an insurance policy you buy to protect your investment in your property in the event of a title problem. For example, you may discover after you have bought your home that someone else has a legitimate claim to part or all of the property which must be satisfied or removed, or you may discover that the building is not properly located on the lot. Most commonly now, you may become the victim of identity fraud where someone steals your title to your home. The title insurance policy protects you against the financial loss you may suffer because of the title or fraud problem. Most title insurance policies also cover your legal costs if your title is challenged. If a claim arises, you notify the insurer who will assess your loss and either compensate you financially or bear the costs of rectifying the problem. I can assist you by arranging a title insurance policy with any number of insurance carriers. The costs of the title insurance will be determined by the Insurer and will be disclosed to you before you commit to the purchase of the policy. The use of title insurance will substantially reduce your disbursement costs.

Please Note: This information is not intended to contain advice specific to your situation. There are no cookie cutter solutions. After all, you are reading this information on the internet. Your situation is special and unique and you must be guided by specific individual advice from your Lawyer, Certified Financial Planner or Accountant.