Our Real Estate Law Services in Ottawa
Buying or selling a home will likely be the most expensive transaction you deal with in life. Having a trusted law firm on your side will help make the process easier and less stressful. At Dabros Law, our team aims to break down the intimidating barriers that exist surrounding real estate transactions by keeping our clients informed and educated throughout the entire process.
Closing a real estate transaction without the help of a lawyer leaves you at risk of missing important legal details involved in buying, selling or refinancing. If you’re looking for a real estate lawyer in Ottawa, trust our team at Dabros Law to be thorough and detail-oriented. Learn more about our real estate law process below.
Residential Real Estate: Purchase
Buying a house is exciting! Whether you’re a First Time Home Buyer, purchasing an investment property, or maybe finally buying your dream home, all buyers have one thing in common: they want to ensure they get proper ownership of their new property. This is what Dabros Law Professional Corporation does for you!
Our job is to ensure that you receive proper title (ownership) of your new home. We take the worry out of purchasing a new home and make sure that your financial investment is not placed in jeopardy and you receive exactly what you agreed to. Planning on buying a home in the Ottawa area? Work with our trusted real estate lawyers at Dabros Law.
Residential Real Estate: Sale
Selling a property is just as exciting as buying. This is where you get to cash in all the equity you have gained over the years of owning your property. The renovations and countless upgrades that you have done throughout your ownership will help to increase the value of your home and in turn increase the proceeds you will receive when you sell.
We know what you care about most: ensuring that you receive the proceeds of the sale of your property accurately and in a timely fashion. We make sure that the transaction is done properly and that it closes based on the conditions of your sale. If you’re planning on selling a home in the Ottawa area, work with our experienced and dedicated team at Dabros Law.
Residential Real Estate: Refinance
A mortgage is a big responsibility and a lot of folks decide to get a mortgage to finance their purchase of property. Often after the first term of the mortgage, people think about refinancing as new priorities or challenges arise in their life. Of course, you may always refinance your mortgage prior to the end of the first term of the mortgage but this will be accompanied by fees from the Lender.
Lenders in the City of Ottawa will also want to make sure that the mortgage and property have been properly vetted and cleared by an Ottawa Real Estate lawyer to ensure that no encumbrances or other legal obstacles exist. Work with our team at Dabros Law if you’re planning on refinancing.
Preparing to Close the Deal
What YOU need to do:
• Provide us with a copy of the Agreement of Purchase and Sale;
• Arrange mortgage financing and have the lender send us instructions;
• Contact your insurance broker for your home insurance at least two (2) weeks before the scheduled closing date;
• Contact your Telephone and/or Cable company for setup/cancellation;
• Contact utility companies to make changes to your account information. We will notify your municipal taxes and water of the ownership change, however, you may need to provide other information to them. Here is a list of common utility companies and their phone numbers:
City of Ottawa – Water & Tax – 613.580.2444
Hydro One – 1.888.664.9376
Hydro Ottawa – 613.738.6400
Enbridge Gas – 1.877.362.7434 **N.B.
Title Insurance does not cover any outstanding final utility bills that the vendor does not pay. Title insurance covers arrears up to the final billing only. Should you receive an unpaid bill reflecting the final meter reading, this is beyond our initial mandate concerning the completion of your transaction.
• Contact water heater company for setup/cancellation
• Well and/or septic – We will require a water potability certificate and/or septic certificate for your lender unless otherwise agreed upon.
What WE do:
• Review the Agreement of Purchase and Sale;
• Perform a Title Search;
• Arrange for Title Insurance;
• Prepare the closing documents including mortgage documents; notifying municipality, hydro & gas companies of change of ownership;
• Meet with you to sign documents required for closing (both virtually or in person);
• Send you a reporting letter closing your file.
On Closing:
We will meet with you a few days prior to closing to have all of the documents signed. We will ask you to bring two pieces of identification, at least one photo ID (like a Passport, Permanent residence Card, Drivers License etc.) and the second piece of ID can be a credit card, birth certificate etc.
We will also require a certified cheque or bank draft payable to “Dabros Law in Trust” in the amount that we advise to you of prior to closing. This amount covers the costs associated with your transaction including: Land Transfer Tax, registrations of Transfer and mortgage, legal fees and disbursements, wire fees etc. Thereafter, once the deal has closed we will send you a reporting letter advising you of the close of your deal and provide you with your requisite documents.
Frequently Asked Questions
How do I get the process started?
All you need to do is send us your Agreement of Purchase and Sale (APS). You can send this to us by email at: info@dabroslaw.com or send it by fax: 613-714-9101. We will then send you a letter with a questionnaire asking for information and details about your real estate transaction.
You can always call us at 613-714-9100 with any questions you have or to schedule an appointment.
I signed an agreement with a mortgage lender, how do I get their instructions to you?
Typically, the lender will send the instructions directly to us. In any case, provide your mortgage lender with our contact details including our email, fax and phone number. All of this information can be found on our Contact Us page.
If you have any more questions regarding our real estate law services in Ottawa, please don’t contact us today.
Do I need home insurance?
Yes! If you are relying on a mortgage to purchase your property you will be required to obtain insurance prior to the closing of the transaction. The Lender will not provide funds for closing if you do not obtain this before closing. Your insurance broker will provide an insurance “Booklet” or “Binder”. Instructions will be provided as to what information will be required.
If you have any more questions regarding our real estate law services in Ottawa, contact us today.
What are disbursements and what should I expect to pay in legal fees?
We offer flat rate legal fees that apply to a typical residential single-family dwelling on city services, being vacant on closing with one first mortgage and no other encumbrances or liens on title. We will advise you if your transaction will require additional work and any associated fees with this work.
“Disbursements” are out-of-pocket expenses paid by your lawyer on your behalf to facilitate the real estate transaction. The Law Society of Ontario outlines Rules which lawyers must comply with regarding disbursements. Typical disbursements in a Real Estate transaction include Land Transfer Tax, HST, off-title searches, title insurance, land title registration fees, fees charged by various Municipal, Provincial or Federal Governments, status certificates, etc.
If you’re looking for a real estate lawyer in Ottawa to work with, contact our team to get started.
What is the First time Home buyer tax credit?
The First-Time Home Buyer’s Tax Credit is a $5,000 non-refundable tax credit. The general rule to qualify for the First-time home buyer tax rebate is that the property you are purchasing is the first property that you own. This is inclusive of owning property not only in Ontario, or other parts of Canada but anywhere in the world.
If you’re interested in learning more about the First time homebuyer tax credit or have questions about our real estate law services in Ottawa, contact us today!
When do I receive the Deed to my new home?
We will register you as the new owner and close the transaction on your behalf. You will receive a reporting letter from us outlining that the transaction has closed and enclose your mortgage documents and your official Deed (also known as a “Transfer”).
Planning on purchasing a home in the Ottawa area? Work with Dabros Law for all your real estate law needs. Contact us today to learn more about how we can help you.
What is the role of a real estate lawyer?
A real estate lawyer helps to ensure the ownership of the property you’re buying or selling is transferred properly. They are also there to protect your legal rights during the transaction. Other aspects of our role include:
– Reviewing the APS
– Performing a Title Search
– Arranging for Title Insurance
– Preparing the Closing Documents
And more! Our team at Dabros Law has years of experience working with many homeowners in Ottawa to close their real estate transactions. Contact us today.