Lawyers and real estate go hand in hand – our friends at TSD law were nice enough to answer some questions for us for our clients to get to know them and the process a little better!  

 

How long have you been doing real estate law for? 

My firm has been practicing Real Estate law since 2014

 

 

What is your favourite part of being in and out of real estate transactions every day? 

My favourite part is helping first time home buyers, it’s an amazing feeling being a part of something so monumental for my clients!

 

 

What is your role in a real estate transaction? 

My role in a Real Estate transaction is to ensure that all terms and conditions of the agreement of purchase and sale are fulfilled as agreed too and to advise our clients and provide guidance throughout the transaction.

 

 

What is a status certificate and why is it important? 

The Status Certificate is vital when buying a condo, it provides the “behind the scenes information” we need to determine if there are any outstanding issues with the condominium corporation, such as  special assessments which may change the amount of condo fees a buyer may have to pay, it lets us know if there are any potential law suits, and if the Condominium Corporation is properly funded, these are just a few items there are quite a few more.

 

 

How much do you charge for closing a deal? What does that include? 

I know it’s a typical lawyer response, but it depends! A straight forward Purchase transaction with 1 mortgage we charge $1249 + disbursements and HST. This includes the review of the Status certificate, Parcel Searches, Registrations and placing of the mortgage, closing of the transaction and the intangibles of the service we provide.

For a Sale transaction we charge $999.99 + Disbursements and HST. This includes : Discharge of Mortgage, Closing of the Transaction and Direction of Sale proceeds.

At TSD LAW we recognize that legal fees are similar across the board however it is our service that sets us apart. We know for many clients this may be their first Real Estate Transaction and as a result it can be daunting, it’s for this reason we make ourselves available to answer every question our clients have no matter how simple or complex, we want our clients to be comfortable throughout the process. My staff and I endeavor to respond to our clients within 24 hrs if not sooner.

 

 

Will you read a status certificate for me more than once? 

Once again it depends LOL! If there are points of concern then yes, if a Status Certificate meets our standards, we will provide an opinion reflecting that position.

 

 

What is your advice for buyers and sellers in the market? 

The best advice I can give is get a great agent *Cough Cough Condo Nerds!,  get a great Real Estate lawyer *Cough Cough TSD Law! And use them, I mean ask the questions that you need to ask to be comfortable and let your professional team do the heavy lifting, after all you are paying for a service and that service should be the best! 

 

Follow us at @tsdlawyers on IG

www.tsdlaw.ca

 

*answer 

Because they clothes it 🤣