Buying and Selling Property

Whether it is your first home or an investment property, purchasing a home is always exiting. Our law office will explain the purchasing costs up front and help you understanding the process even before you begin the purchase. We are always available to answer your questions and concerns throughout the purchasing and closing process.

We typically receive questions about: (i) The legal fees and closing costs involved in the purchase process; (ii) What is involved in the purchasing or selling process; (iii) When is it appropriate to hire a lawyer to assist with the process and what can the client expect from the lawyer.

Legal Costs

The legal costs involved in the purchase of a home with a mortgage usually range from $550 – $750 plus taxes and Closing Costs (as above). Please see our page on Legal Costs to see a break down of the typical fees involved in the purchase of a house with a mortgage.
The legal fees involved in the process are usually only a smaller part of the closing cost fees which typically include:

• Legal Fees;
• Land Title Office Registration Fees;
• Property Transfer Tax, GST & PST (when applicable);

The Purchase Process

The purchase process involves usually between four to five steps, depending on the property, financing and other issues that are present:

1.0 The Buyer enters into an Agreement for Purchase and Sale of a home located in the Lower Mainland. The Buyer should have pre-approval from a Bank who will fund the purchase through the registration of a mortgage.

2.0 The Buyer will retain the services of a Lawyer to assist with the Property purchase (usually three to four weeks prior to the Completion date of the purchase). The Lawyer will have a brief meeting with Buyer to explain the purchase process and required documents (usually done one to two weeks in advance of the Completion date).

3.0 The Lawyer finalizes the required documents and meets with the Buyer for document signing and to receive required deposits (if applicable). This is usually done a few days in advance of the Completion Date.

4.0 The Lawyer will complete the Title transfer and Mortgage registration on Completion date and notify the Buyer of the registration dates.

5.0 The Buyer will receive the house keys from the real-estate agent and move into the new home on the Possession date.