There are lots of professionals involved in a real estate transaction, from the Realtor, to the mortgage broker, to the home inspector, and of course… a lawyer or notary public.
I was recently in a conversation with Jamie Nay of Becker & Company Lawyers about the role of the Real Estate Lawyer and he was inspired to write the below:
“Your realtor and your mortgage broker carry your home purchase (or sale) the first 200 yards. Your lawyer brings it home for the last 20 yards.”
That’s paraphrasing a friend of mine, realtor David Smith, describing the role of a real estate (or “conveyancing”) lawyer. And, you know what? It’s true. By the time the file gets to us, your lawyer, most of the journey is complete. Contracts have been signed, funding has been secured, subjects have been removed. You’re just about there – mere days away from either getting the keys to your new home, or taking your cheque to the bank.
So why do you need to hire a lawyer?…