Eshel Law Firm can assist you in the legal processes surrounding the purchase or sale of a property. We are dedicated to helping you close your real estate deal in a professional manner. You can rest assured that your deal will be efficiently looked after. Since real estate deals involve many complex documents it is of the utmost importance that these matters are handled correctly.
At Eshel Law Firm we know the legal processes regarding real estate can be complicated and we are able to assist you in understanding the process. In order to ensure your real estate purchase or sale is handled efficiently contact our office.
If you are Buyer or Seller our company will protect your interests as followed:
If you are a Seller, we can:
- Allow our office to review the agreement for Purchase and Sale to make sure that the terms of the agreements will reflect what was verbally agreed upon between you and buyer as long as the terms are legally binding.
- Ensure that your Purchase and Sale agreement terms properly protect your interests.
- Ensure that the buyer provides all the documents and guarantees which are required in order to proceed with the transaction.
- In case of Vendor Take Back-VTB- when the Seller of a property provides you with some or all the mortgage financing for purchasing his/her property- we will make sure the buyer provides all necessary evidence to pay the mortgage.
- Explain the process and to do all the necessary steps to ensure the buyer is capable of paying the mortgage back to Vendor.
- Review the documents that are related to your title insurance, mortgage, and taxes.
If you are a Buyer, we can:
- Go over the conditions of the agreement for Purchase and Sale prior to you signing.
- In the case of a new home, we will make sure that you will not be exposed to liabilities that you have not been aware of prior to signing an agreement.
- Review documents that relate to your title insurance, mortgage, and taxes.
- Register your Title in Registry System or Titles Search System for any legal documents that are required to be registered as part of your real estate transaction.
- On Closing day go over all matters of your real estate deal in order to finalize and make sure all the final steps of the transaction took place in accordance with the agreement.
- Advise you of the advantages and disadvantages of title insurance for your purchase transaction.
In any Real Estate deal you are required to pay Land Transfer Tax Rates as follows:
If you are a first-time homebuyer, you may be eligible for a refund of all or part of the land transfer tax.
Eshel Law Firm will provide you a FREE consultation regarding all expects of Real Estate residential transactions including explanation what taxes you are required to pay or not.
Land transfer tax rates:
The tax rates calculated on the value of the consideration are:
- 0.5% up to and including $55,000
- 1% above $55,000 up to and including $250,000
- 1.5% above $250,000
- 2% above $400,000 where the land contains one or two single family residences.
The land transfer tax rate is the same for residents and non-residents of Canada.