Many home buyers and home sellers in Toronto rely on their real estate agents to draft, negotiate and ultimately review their Agreements of Purchase and Sale. While it may be convenient and less expensive to have a real estate agent handle these tasks, it also poses several risks including the risk of being sued by the other party in the purchase or sale. It is always recommended to get your real estate lawyer involved in your purchase or sale as early as possible. Having the assistance of qualified professionals throughout the entire transaction will ultimately save you time and money and protect you from pitfalls that you may not even know exist.
Experienced and qualified real estate lawyers can benefit you in several ways. Before or even during a real estate transaction, your real estate lawyer is able to provide you with the best idea of what to expect next and will help you to plan ahead accordingly. Before beginning a purchase or sale transaction, professional real estate lawyers often provide their clients with a brief plan in order to avoid surprises and ensure that the transaction ultimately proceeds smoothly. If your real estate lawyer does not provide you with a plan and summary of what to expect at the outset of your purchase or sale, it is recommended that you request that they do so. The experience of a qualified lawyer is essential to closing your real estate transaction smoothly and successfully. Consulting a lawyer with several years of experience handling various types of real estate transactions is a good way to ensure that you are represented in the best possible way.
Although, some home buyers and home sellers in Toronto do not retain a real estate lawyer until later in the process, and instead rely on their real estate agents to do many of the tasks that lawyers are trained to do, this is not advisable. Keep in mind that real estate agents are not licensed to practice law, which means that there is a very real risk that any advice given by real estate agents, which is legal in nature, could be misleading or altogether bad advice. Real estate agents do not possess the legal qualifications , experience and knowledge that real estate lawyers do. Ultimately, real estate lawyers can save you thousands of dollars by helping you to avoid pitfalls, encouraging you to include necessary clauses and helping you to navigate through laws with which non-lawyers are not always familiar. With a bit of time and effort, you should be able to find a law firm in Toronto which has qualified and experienced real estate lawyers and who are able to assist you with your purchase or sale at an affordable price.