Common Questions

Do I need a real estate lawyer as well?

If you're looking to buy a house or condo in Ontario, you'll need the assistance of a real estate lawyer. Overall, a lawyer's goal is to safeguard your interests by ensuring that all of the provisions of your purchase and sale agreement are followed and that you receive a clear title to the property. When it comes to the details, your lawyer may assist you with a variety of aspects of purchasing and selling real estate, including transaction assistance, closing processes, and even dealing with title insurance. Before you meet with a real estate agent or broker for the first time, it's crucial to understand your rights when it comes to purchasing a home.

How will you find potential buyers/renters for my property?

In a highly competitive market like Toronto or North York, using a real estate agent might give a tenant a significant edge. There are considerably more entries than can be found by simple Internet searches. The multiple listing service (MLS) database gives rental agents access to listings. They're also aware of unlisted units that are going to hit the market.

How Does a Real Estate Deposit Work in Toronto?

After a successful Purchase and Sale Agreement for a home or condominium, the Buyer pays a real estate deposit. The deposit is used to assure the Seller that the Buyer has a financial stake in the transaction. The deposit is a requirement of the contract and will be applied to the Buyer's down payment at closing. Without a deposit check, a transaction is not firm and binding, therefore this is an important component of the negotiation process.