David Setton : Answers In Real Estate

What to Expect from a Lawyer or Notary

Home buyers and sellers will need to hire a notary or lawyer to help with the closing of the property transaction. Most people do not realize that the legal representation for the respective parties actually negotiates issues that have financial bearing on each party. The following is a list of services a client can expect to receive from a notary or lawyer:

A. Review the contract of purchase and sale;

B. Search title and discuss charges to remain on title and to be discharged;

C. Obtain and review municipal tax information specific to the property;

D. Prepare or obtain transfer and mortgage documents as well as supporting documents required by the registry or others;

E. Attend to or arrange for execution of transfer and mortgage documents;

F. Negotiate appropriate closing undertakings with solicitor/notary for Seller;

G. Receive and account for trust funds;

H. Provide your Lender with its requested security documents;

I. Attend to registration of relevant documents at the Land Title Office;

J. Confirm residency status of the Seller pursuant to the Income Tax Acts;

K. Disburse trust funds;

L. Provide you with the final report and the State of Title Certificate