Today….a guest post from our favourite real estate lawyer, David Feld of Feld Kalia. If you’re buying or selling a home, you’ll need a good lawyer – click here to review the role of your real estate lawyer and read on to learn how to pick a good one….
When looking for a real estate lawyer in Toronto for the most important asset you will ever purchase, you want a team that thinks of YOU first. You want a lawyer who is pro-active and gives you timely updates on your file. You need someone who knows the real estate game and focuses their practice mostly on real estate. (90% is a good number). This is the kind of lawyer that will know how to protect your best interests. In the real estate game, a lawyer is the quarterback of the whole transaction. As such, your lawyer should have a keen sense and ability to read all the players involved and spot/eliminate any potential problems before they blow up. Some of the players in the game are your realtor, lending institution(s), the selling party’s lawyer and various other parties that need to be involved and engaged in the transaction for it to go smoothly. Real estate is also fast and furious. Is your lawyer “electronically” equipped to handle the speed required in closing a transaction.? If not, you may not get your keys on time and delays cost you time and money.
What about fees? Does the lawyer quote an all-inclusive price or are there hidden fees? You want to KNOW what you are going to pay BEFORE you retain a lawyer. Are the lawyer’s fees easy to understand? Do the fees include title insurance? You will want to get title insurance with your purchase 100% of the time. If a lawyer tells you otherwise, run fast!
By the way, you will also want a lawyer who is not disbarred – lol. You can check if the lawyer is in good standing by visiting the Law of Society of Upper Canada Website and typing in their name. This website is up to date so you can rely on the information provided.
A good way to determine if the lawyer you are using is any good is to check them out online… go to their Twitter feed, LinkedIn profile, Facebook and check out what other people are saying. Try to contact the lawyer or their team, do they respond in a timely manner? Do they have a team? Do they explain things in an easy to understand fashion?