Frequently Asked Questions

What is the typical process for buying a home in Canada?

The home buying process in Canada involves several key steps: getting pre-approved for a mortgage, finding a real estate agent, searching for properties, making an offer, completing a home inspection, finalizing financing, and closing the deal. The entire process usually takes between 4-8 weeks from offer to closing, depending on various factors.

What legal documents are required for a real estate transaction?

Essential documents include the Agreement of Purchase and Sale, title documents, property survey, mortgage documents, and closing documents. You'll also need government-issued ID, proof of funds, and potentially additional paperwork depending on your specific situation. Our legal team ensures all documents are properly prepared and reviewed.

What costs should I expect beyond the purchase price?

Additional costs typically include land transfer taxes (varies by province), legal fees (1-2% of purchase price), home inspection fees ($400-$800), property insurance, moving costs, and potential maintenance expenses. First-time buyers may qualify for rebates on some of these costs.

How does the mortgage approval process work?

Mortgage approval involves submitting financial documents (income verification, credit history, debt information), property details, and down payment verification. Lenders assess your debt-to-income ratio and credit score. Pre-approval typically lasts 90-120 days and gives you a price range to shop within.

What are the advantages of using a real estate lawyer?

A real estate lawyer protects your interests by reviewing contracts, conducting title searches, ensuring proper transfer of ownership, handling funds, and registering the transaction with the appropriate land registry office. They also identify potential legal issues that might not be apparent to buyers.

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