I bought a house recentely. Before buying the house my real estate agent promised me that he would pay lawyers' fees as incentive. Lawyers charged me CAD 925.55 .
Now my agent says that lawyer's fees is only CAD 350.00 ., rest is other expenses by lawyer, which he would not pay.
I just want to know the fact about lawyer's fee andI have good mind to put the agent's name and name of the Comapny in the Charcha.
Location: British Columbia
Posted on: 10-01-06 19:39:57
Quote:
Orginally posted by SOLARIS
I bought a house recentely. Before buying the house my real estate agent promised me that he would pay lawyers' fees as incentive. Lawyers charged me CAD 925.55 .
Now my agent says that lawyer's fees is only CAD 350.00 ., rest is other expenses by lawyer, which he would not pay.
I just want to know the fact about lawyer's fee andI have good mind to put the agent's name and name of the Comapny in the Charcha.
Get an itemized list of the expenses from your Lawyer
They have to give you a breakdown ...
go over it and have them explain each cost to you.
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~ Morning rain
Hello Solaris,
While it is sad that this happened to you, it should nevertheless serve as an eye opener to others who are looking to hire a Real Estate Salesperson just because they offer "incentives". Who hasn't heard fo the term in North America that "There are no free lunches". You probably financed your own incentive!
An honest Real Estate Salesperson will work hard for you and save you much more on the deal itself than the "incentive" being offered.
Sadly, such agents bring the whole profession to disrepute.
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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK
Quote:
Orginally posted by SOLARIS
I bought a house recentely. Before buying the house my real estate agent promised me that he would pay lawyers' fees as incentive. Lawyers charged me CAD 925.55 .
Now my agent says that lawyer's fees is only CAD 350.00 ., rest is other expenses by lawyer, which he would not pay.
I just want to know the fact about lawyer's fee andI have good mind to put the agent's name and name of the Comapny in the Charcha.
It is true that most of the money charged by the lawyer goes towards transfer fees to be paid to the various utility companies. Lawyers fees are generally in the range of $350.
As morning_rain has suggested, get an itemized list and you'll find out.
According to you - Your real estate agent said he'll pay the lawyers fees, did he say he'll cover the transfer fees too
I'm not trying to defent the agent, but it's probably a misunderstanding. You assumed he'll pay everything that the lawyer charges, whereas the agent meant he'll pay only the lawyers fees of that 'everything' the lawyer charges.
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SS
Reiki Grand Master
Location: British Columbia
Posted on: 12-01-06 12:39:15
Quote:
Orginally posted by sudesingh
Quote:
Orginally posted by SOLARIS
I bought a house recentely. Before buying the house my real estate agent promised me that he would pay lawyers' fees as incentive. Lawyers charged me CAD 925.55 .
Now my agent says that lawyer's fees is only CAD 350.00 ., rest is other expenses by lawyer, which he would not pay.
I just want to know the fact about lawyer's fee andI have good mind to put the agent's name and name of the Comapny in the Charcha.
It is true that most of the money charged by the lawyer goes towards transfer fees to be paid to the various utility companies. Lawyers fees are generally in the range of $350.
As morning_rain has suggested, get an itemized list and you'll find out.
According to you - Your real estate agent said he'll pay the lawyers fees, did he say he'll cover the transfer fees too
I'm not trying to defent the agent, but it's probably a misunderstanding. You assumed he'll pay everything that the lawyer charges, whereas the agent meant he'll pay only the lawyers fees of that 'everything' the lawyer charges.
I dont know. If one is a first time home buyer in Canada you dont have to pay the property transfer tax. Also, transfer fees if any (to move to a new home) for utilities the owner generally does have to pay. I dont think the lawyers office would collect these fees.
I may be mistaken .. because we used a Notary Public. They didnt charge as much as the lawyer (just a bit less). You do have to pay for things like photocopying of documents (thats like $35 or something) so these small things add up.
get a list ..
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~ Morning rain
Thanks for the reply. My agent promised me that my lawyer would not chrge anything at all. But when I got a call from lawyers office for submitting the Demand Draft for clsosing including the fees, I asked for clarification from my agent , he said that I have to pay the amount to lawyer and he would reimburse it to me.
In fact before finalising the deal I asked advise from one of my friend who has brought the house recentely. he said that all the lawyer's expenses paid by his agent. So I got my friend and my agent togather and after getting it confirmed from my friend my agent promised me to pay all lawyers' expenses.
Can I inform about this to his office or his superiors?
Because this is all comfirmed verbally and based on trust, There is no written commitment.
When buying a house the Realtors are always asking us to sign and initial each page. the reason is so that we are certain of what we are getting for our money. This is also a proper thing to do. It is not that the realtor does not trust the clients. Does the client have any recourse with claims made by the realtors. Read on.....
Some realtors make claims as we are looking at homes. I had a client who took out each listing and when a realtor made a comment she wrote this at the back of the listing and at the end of the tour asked the realtor to autograph the list. In your case it seems the realtor offered to pay the lawyers own (labour) fees.
She sometimes threatened to move to another agent if he/she refused to back up the claims in writing. It happened that the realtor claimed that the furnace was 3yrs old. After closing the realtor was surprised to receive a letter of claim with the proof that the furnace was over 10yrs old. The realtor coughed up the money!
In 2004 FSCO (Min. of Finance) has over 70,000 complaints filed with them regarding all brokers.
As a mortgage broker with HLC (Div of CIBC) I suggest you or other readers call me to find out what questions to ask before placing your trust in any salesman in Ontario. (416 444 1470)
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S. kanji
I may not agree with your opinions, but I will fight to death for you be able to air your views.
