Real Estate in Timmins
Buying or selling a property is a significant task. It may be one of the most critical decisions made in one's lifetime. Like all important decisions, it should be handled with the utmost caution and preparation. While many property owners or buyers will count on a realtor's services, many more will use the expertise of a real estate attorney to handle these significant financial endeavors.
For many years, Suzanne Desrosiers Professional Corporation has been helping purchasers and sellers of property to navigate their way through complex real estate proceedings. We will keep your unique interests in mind, and ensure you receive the best deal for the property, with no legal or financial consequences.
For more information about the real estate legal services we can provide, please reach our team by phone or email today.
Smooth Real Estate Proceedings with the Help of a Lawyer
Although many buyers and sellers may avoid hiring a real estate lawyer when engaging in real estate activities, there are many benefits to having an attorney by your side.
Real estate transactions are exciting, but they're not as simple as they're cracked up to be. Individuals often find themselves amid difficult financial negotiations and burdened with a lot of confusing paperwork. Some legal requirements and regulations are involved in these proceedings, and having a lawyer on hand can make the process far more straightforward and rewarding.
Our legal team has years of experience dealing with real estate activities. We are very knowledgeable of the local market, and when you hire us, you can rest assured you're in qualified hands.
The Benefits of Hiring a Real Estate Lawyer
There are many benefits to enlisting the assistance of a real estate lawyer. Let's explore just a few:
Although hiring a real estate lawyer may seem like an additional cost, the expertise and guidance provided by the attorney often pay for themselves. Our job is to ensure you make a successful transaction and avoid unnecessary costs and fees.
Less Work for You
There is so much to think about when buying or selling a property. Hiring a lawyer will allow you to take some of the work off your plate. Our attorney will handle the legal terms and complete complex paperwork accurately.
Perhaps the most obvious benefit of hiring a real estate lawyer is reducing risks during the transaction. If a seller does not disclose enough information about their property or home inspection, for example, they could be sued. We will help to ensure that all legal obligations are met, so you avoid costly complications.
Buying and selling property is one of the most significant decisions a person will make and negotiating is a big part of the process. Our lawyers have extensive experience negotiating and can help you get the very best price.
To learn how a real estate lawyer could benefit your unique situation, please get in touch with the experts at Suzanne Desrosiers Professional Corporation today. We look forward to working with you.
Real Estate Timmins, Ontario and area— Real Estate
Real Estate involves either purchasing or selling a residential, commercial, institutional or industrial property. Sometimes, real estate agents are involved and other times the transactions are dealt with by way of a private deal whereby the lawyer for the purchaser must draft the agreement of purchase and sale. I have been practicing for over 33 years, and during all those years I have made it a point to see the client personally as I find it is an important transaction that involves thousands of dollars and there are some financial liabilities due to the mortgage. I find it is important that you have the lawyer explain the transaction to you personally rather than simply delegating the task to a law clerk.
A distinction must be made between a city property and a rural property. For the most part city properties consist of the whole of a lot on a plan of subdivision and don't require an abutting land search. However, on occasion, such a search must be conducted as failure to do so may result in the transaction being null and void. We don't know if such search will be required until we are retained and a search of the property is conducted. For rural properties, 99% of the time an abutting land search is required. The reason we must conduct such search is to ascertain if the vendor of the property retains abutting property and, if so, the vendor must obtain a consent from the Committee of Adjustment, if not, the transaction is null and void.
As for commercial properties, one must make sure that the zoning permits the use of the subject property. Secondly, when you sell or purchase a commercial property, is it important that a provision be made for the HST and that the HST is over and above the purchase price. Failure to ascertain this will result in the vendor believing that he is receiving a certain amount for his property, when in fact 13% of the said amount needs to be remitted to the CRA.
If there is or was a gas station in the area of the subject property at one time, you want to consider getting an environmental assessment done. There are two phases to an environmental assessment. Phase I, is typically a research by someone that specializes in environmental matters who will ascertain the type of soil, and the use to the subject properties over the years. If there were properties in the area that were the cause for an environmental concern, the environmental consultant will recommend that we proceed to a Phase 2 assessment which involves some drilling on the subject property to ascertain if the property has environmental issues that need to be addressed.
Rural properties - residential or commercial
For rural properties, one needs to be mindful about the well and septic system. It is highly recommended that not only that you check that the water is free of e-coli from the Porcupine Health Unit, but that you also test the water for its mineral content which is done through a laboratory in Sudbury. In particular, you want to know if there are any heavy metals in the water. That cannot be ascertained by a simple test through the Porcupine Health Unit. An example of heavy metals is arsenic. I have seen instances where the Porcupine Health Unit determined the water was fit for human consumption because it was free of e-coli, but it had a high concentration of arsenic that required a special filtration system to avoid the negative effect of such metal in the water. Also, if we are dealing with a well you want to verify that the volume of water is enough to serve the needs of your household.
- Furthermore, with rural properties, you need to be mindful of the septic system. If you obtain a septic search or usage permit from the Porcupine Health Unit, it only ascertains that when it was first installed, it met the specifications of the day. What you want to consider if there is a septic system, is that it is fully operational. For you to do so, it is necessary to have the septic tank emptied, and have someone with expertise in this area, inspect the septic system to ascertain that is working properly.
At Suzanne Desrosiers Professional Corporation, we can assist you with your real estate needs. We would be happy to help you in this regard, and if you are presented with an offer, please feel free to contact the office as there is no charge to reviewing an agreement of purchase and sale.
Call for Suzanne Desrosiers, or Katherine at the office of Suzanne Desrosiers Professional Corporation at 705-268-6492 to find out more about how we can assist you.