When someone is buying or selling property in Mississauga, they will almost always bring in a residential real estate attorney at some point in the process. However, this is usually only at the end of negotiations. They bring in a lawyer to review the contracts and handle the paperwork filing.
Unfortunately, this can also lead to a lot of bad outcomes and missed opportunities. There are plenty of times that you would want a Mississauga residential real estate attorney on your side throughout the process – not just at the end. These are just a few of the situations where you want to call in a real estate lawyer early on.
3 Times You Want to Call in A Mississauga Residential Real Estate Attorney
- Your real estate agent lacks legal knowledge
It’s a good idea to dig into your real estate agent’s background and learn how much experience they have with contract law. Some agents, particularly those who have been in business for many years, will have knowledge of real estate contract law comparable to an attorney. However, many – particularly younger real estate agents – will not.
If you have any reason to think your real estate agent doesn’t have sufficient background in contract law to review your contracts as they’re written, you definitely want a lawyer around to provide oversight.
- Whenever purchasing a new home or condo directly from a builder
Purchasing agreements can be relatively simple when you’re buying an existing property. However, if you’re purchasing a property which has yet to be built or finished, the agreement will be complicated. It’s not uncommon for such purchasing agreements to be 40-50 pages, or longer – and every word of it needs to be carefully scrutinized to ensure that your interests are being protected. Most of the time, they even contain a provision requiring the contract to be reviewed by legal representation.
In these situations, there’s no need to wait. If you are relatively sure you’ll be buying a property currently under construction, just go ahead and contact a Mississauga residential real estate attorney so they can be with you throughout the process.
- Whenever purchasing an FSBO
Buying a property which is For Sale by Owner can always be a tricky thing, in part because the owners selling the property rarely have full knowledge of the laws and regulations covering their transaction. It is extremely common for the contracts produced in these situations to be problematic. Often, this is due to an honest error… but if the error will be to your detriment, it must be corrected in any case. For example, if the property is not properly described within the contract to legal specifications, even your ownership could be called into question!
Have legal representation ready to look over the paperwork if you’re thinking about buying from an owner who has chosen to represent themselves.
JMK Law Barristers & Solicitors Is Here to Help You
When you need a Mississauga residential real estate attorney, JMK Law Barristers & Solicitors is here for you. Take advantage of our extensive experience; contact us today!