Posted on: 23-08-08 09:36:34
I have bought a house can anyone suggest a good lawyer to close the deal and typically what are the closing cost of an old freehold townhome for first time buyer.
Would appreciate if other members can share their experiences.
Txs
Keep 5-6% of the cost towards closing. Based on when the property tax is due and if the previous owner has paid it or not, there could be upto 2-3K difference.
Sorry no ref for good lawyers. My experience and my known friend's are all bad with different lawyers.
If there are problems they are all bad that is why they are real estate closing lawyers otherwsie they can do something more challenging and better.
Do no tlsiten to your real estate agent about how best his lawyer is and the other darn good things of paying more and get a better lawyer. They all suck in the end. Just hope your deal closes smoothly and that is all.
The real fee component of a lawer could be between 400 to 800 dollars. Rest they are collecting as expenses, fees, insurances etc. But the typical cost is 5 to 7 percent.
Now actually one should not have issues dealing with any lawyer for house closing as the process is quite simple. However when you have issues like the seller have created some issues (like not leaving behing curtains, house not maintained etc), that time you will find it hard to deal with lawyers. Please note that once the closing is done and you need to get something done by the seller it would be very hard for both the buyers lawyer and sellers lawyer to help you. They will keep writing to each other and nothing will happen.
Typically you will need to know following from the seller - so ask your lawyer / agent to get those details before the closing.
1) How various systems work in the house
2) Property tax - how much is paid (Lawyer will do this anyway but better to clarify)
3) Passwords for all automatic systems
4) Location of mailbox and mailbox number (If applicable)
5) Security System
6) Garbage Pickup timings
7) Ask lawyer to make sure the house is clean before closing
8) Have your visit to house couple of days before the closing
If you found issues with the house like things not done as per purchase agreement (like you mentioned that the seller must cleaned windows professionally from inside and outside and they have not done it), you can delay the closing untill they have done it and they are suppose to bear all the expenses you have to incure just because of it. (As I understand the process, I am not a law expert). However this is not practical as you might already have made plans for move, given notice to existing house / apartment, ready for move, so you will not prefer to do so. Alternatively you can negociate for the things not done.
Also get references from friends for the lawyer you choose.
My thouths - better to clarify everything from the lawer/agent..
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A Proud Indian Canadian
1) How various systems work in the house
Do an inspection
2) Property tax - how much is paid (Lawyer will do this anyway but better to clarify)
This is normal procedure every lawyer should do it including utilities.
3) Passwords for all automatic systems--good one, also need to find outhow to change the passwords after closing.
6) Garbage Pickup timings
Find this out form the news paper or the city website. Neighbors will also tell you or you can see the neighbors garbage lined up. so no worries-not a big thing
8) Have your visit to house couple of days before the closing
Walk through as close to the closing time as possible, normally it is the night before closing.
All the best
Quote:
Originally posted by meerut
I have bought a house can anyone suggest a good lawyer to close the deal and typically what are the closing cost of an old freehold townhome for first time buyer.
Would appreciate if other members can share their experiences.
Txs
I use a lawyer in Scarborough.. Pretty good to deal with..I do all my closings thru him.. Charges work out to approx 1500 for closing when you buy a house.
Pls PM me if you need his number.
Good Luck
Mine worked out close to 1000 as Lawyer's fees. And my lawer did a fantastic job. Kept me well informed and did the closing right before time with no hassles.
PM me if you need that reference. Though, it was over a year ago, but I know, she still exists 
- Hem
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Like you - a Canadian .. but still DESI
