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Old 2009-03-31, 12:18 PM
Doogals Doogals is offline
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Default New Home Purchase - Lawyer’s Duties?

Could anyone explain what the duties should be for our lawyer during the purchase of a new home? I’d just like to make sure that nothing gets missed.

Thanks for any input.
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Old 2009-04-01, 09:20 PM
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Style Style is offline
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Depends on the lawyer! I had mine for a few transactions over the years and i find him great and reliable. A Typical lawyer will act on your behalf to transfer all the money, deal with the Land transfer tax,Search and execute certificates,register the deed and mortgage,check for liens etc on the property. But the most important thing that most lawyers should give you is a survey for the property and title insurance for the property!

A lawyer involved in the buying of a new home is more expensive then in the selling portion. The reason is there are many more duties he performs. remember you get what you pay for most times and in this business its no different! If a lawyer is dirt cheap there is a reason why they are! Just a thought!
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Old 2009-04-13, 02:41 PM
EBLAIR EBLAIR is offline
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Default Lawyer tasks

Hi there, here is a breakdown of what the Lawyer's tasks are:
1. they will order a title search. This title search ensures that the seller is really the seller and proper owner of that property.
2. they will search for any outstanding legal claims or liens against the property you are buying.
3. they will ensure that there are no property taxes outstanding against the property.
4. they will handle the ownership transfer, from the seller to the buyer (in direction communication with the lawyer representing the seller) and ensure that the mortgage is properly registered to the new owner, with the Registrar's Office (note that this is usually done electronically now, by the lawyer).
5. they will verify all mortgage documents received from your lender and will ensure you as the borrower can fulfill all terms and conditions as stated in that mortgage agreement (for example, the lender may have asked that certain credit card debts be paid off in full, prior to closing, and there are many other examples of special mortgage lender conditions).
6. they will make sure that the proper funds are in place to close your mortgage.
7. they will make arrangements with you, typically a few days before closing date to sign all the legal documents with you and they will also explain everything about the transaction and note that you only get your key on closing day.
8. they will let you know how much remaining funds (that are not being provided by the mortgage lender) that you need to bring into their office to make up the down payment in a certified cheque or money order.
9. you and all other applicants will be required to present Identification to confirm who you are.
10. the lawyer will also look at your fire insurance documents to ensure you have proper insurance coverage, as requested by the mortgage lender, and will contact that insurance company to ensure that the lender's interests are properly documented in that policy.
11. the lawyer is fully responsible for disbursement of funds, therefore, all monies regarding the transaction(s) must be documented in a proper reconciliation statement for the client(s) and the lawyer moves funds as necessary.

This post was written by Elizabeth Blair, a Licensed Mortgage Agent with Mortgage Edge in Richmond Hill, Ontario. Elizabeth services mortgage clients in Mississauga and all over the Greater Toronto area.

You can contact Elizabeth directly by phone at (905) 510-5785
by email at eblair@mortgageedge.ca
or you visit her website at: www.missmortgage.ca
Elizabeth is licensed with the Financial Services Commission of Ontario and is also a Member of IMBA (the Independent Mortgage Brokers Association of Ontario) www.imba.ca
Lic # M08005880
Brokerage Lic # 10680
Head office is located at: 15 Wertheim Court, Suite 210, Richmond Hill, Ontario, Canada.
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