Affinity Law PC offers a wide range of legal services involved with real estate. Buying and selling residential and commercial properties, condominiums, refinancing and second mortgages are all services that our real estate department is well versed in. When you hire Affinity Law, one of the top real estate law firms in Toronto, you will receive the benefit of experienced and dedicated Toronto real estate lawyers working to achieve your goals and to ensure that all the terms and provisions of your transaction are in accordance with your intentions.
You can also be assured that our attorneys will meet personally with you to review the transaction, get an understanding of how you intend to use the property, and that you are purchasing exactly what you expected. We also promise to keep the lines of communication open and will return all phone calls the same day. Call anytime for a free consultation with a Toronto real estate lawyer from Affinity Law.
Commercial Real Estate Services
Affinity lawyers are highly experienced commercial real estate lawyers in Toronto and will advise and handle all legal aspects concerning the purchase, sale or leasing of commercial properties. These transactions involve zoning, title searches, and environmental issues that our knowledgeable lawyers will manage on your behalf. Some of the other commercial real estate services that we handle are:
- Joint ventures
- Condominium development/sales
- Hotels and hospitality
- Cost-sharing transactions
- Purchase and sale
- Residential and industrial development
- Shopping and retail center development
- Title repair
- Parking issues
- Design control agreements
- Density rights transfers
- Renewable energy projects
- Joint use and public/private initiatives
Purchasing or selling property at a reasonable price and with terms satisfactory to you requires skilled and seasoned legal representatives who have a firm grasp and knowledge of the local market and all applicable regulations. Our attorneys are veteran negotiators and strategists and have successfully addressed nearly any dispute and issue that commonly arise in commercial transactions. We are also considerate of our clients’ time and resources and will seek mediation or other alternative dispute resolution measures before pursuing litigation as a last resort if there are disagreements.
Residential Real Estate Services
Proper management of your real estate transaction is essential to avoid unexpected complications that can arise because certain issues were overlooked or misunderstood. Many of these unforeseen issues can be averted if there is effective communication with the various parties in a residential real estate deal. Our Toronto real estate lawyers have wide experience with the parties to a transaction, including:
- Buyer or seller
- Attorneys for the parties
- Real estate brokers
- Mortgage brokers
- Condominium management association
The review and drafting of closing and all other necessary documents should only be done by highly experienced legal professionals. You can expect one of our Toronto real estate lawyers to review and draft these and any other essential documents:
Agreement of Purchase and Sale
This is the legal agreement that sets out the material terms of the transaction, such as sales price, deposit, preconditions, and special arrangements or warranties.
We will ensure that these documents are properly and accurately drafted and completed including the title search and title insurance.
Recording Documents with the Local Government and Collecting Fees
This includes the Land Transfer Tax and Government Registration Fees
Final Statement of Adjustment
Certain expenses associated with home ownership such as realty taxes and condo fees must be reconciled between seller and buyer and are prorated based on the time of year when ownership is transferred. If it is a new home, there will adjustments for hookups such as water, gas and hydrometer. There are likely other expenses that were previously agreed upon.
Mortgage registration is accomplished by the buyer’s attorney. A Letter of Instruction is sent by the lender regarding the closing and what is to be included in the attorney’s Report on Title.
Report on Title
This document contains the results of the title search that should reveal whether any liens, taxes or other restrictions exist that could constitute a cloud on the title, as well as easements on the property, the property insurance, and the applicable title insurance.
Condominium Sales Agreement
There are different documents for condominium sales such as a Status Certificate for the unit you are purchasing, financial statements, recent reserve fund study, budget for the year, and the by-laws, rules, regulations, and other provisions pertaining to the condominium complex.
Closing Documents and Sale
Before the closing date, the purchaser or seller needs to sign all relevant documents at the attorney’s office. These include among others:
- Deed and sale documents
- Payment of taxes and utilities up to the day of closing
- Affidavit confirming that the buyer is not a non-resident of Canada
- Statement that the sale is exempt from GST as sale of a used residence
- Declaration of possession
At the closing, all documents are reviewed and payment of the sales price is made. The deed is released to the buyer for registration. The purchaser’s attorney notifies the city of the change in ownership
Sharia Compliant Financing and Mortgage
Call us today for a free consultation at (905) 738-2463
Affinity Law PC understands the needs of this niche market for our clientele engaging in financial transactions while observing sharia guidelines. Sharia compliant financing is a unique method of financing a home or commercial property. Sharia law forbids charging interest on a loan so a trust can be created that is funded by investors that buys the property outright. The trust rents the home to tenants who are in a rent-to-own situation with their monthly payments going towards gradually purchasing the property with each passing year.
As a pioneer in this field of finance, our legal team is able to understand firsthand the needs of this fast growing community. Speak with a member of our team from Affinity Law today to learn more about our products developed and approved by an independent Shariah Advisory Board.