Most people know that when they are buying or selling property in Mississauga, they will need a Mississauga real estate lawyer as part of the process. However, all too often, they don’t think about contacting a lawyer until near the very end of negotiations, simply to handle the paperwork and bureaucracy.
In fact, there is a lot that a real estate law firm can do for you throughout the process. They can save you time, money, or potentially even head off legal issues that might otherwise be on the horizon.
Why You Want a Mississauga Real Estate Law Firm on Your Side
- Reviewing paperwork as it happens, not merely at the end
You don’t want any unexpected surprises when dealing with property sales – but that can easily happen, without an experienced lawyer looking over all the paperwork. Minor mistakes in wording – whether accidental or deliberate – can end up costing you a lot of money! In worst case scenarios, a dispute over contract wording caught too late in the process might even derail a sale.
Having a lawyer throughout the process reduces the chances of this happening.
- Setting financing terms
Another common mistake some buyers can make when they enter into purchasing agreements without legal consultation is finding themselves forced into financing they may not want. If the purchasing agreement merely says the purchase is contingent on finding financing, without any caveats, then the buyer would be compelled to take any financing offer on the table – even one which is not in their interests.
Again, an experienced Mississauga real estate lawyer can make sure you are protected, and that there are “back doors” in the contract that prevents you from being railroaded.
- Condo pre-purchasing
If you are thinking of purchasing a condo, particularly a condo which has yet to be built, you absolutely want a lawyer on your side. In these cases, the builders of the condominium will have plenty of representation – and they’ll be trying to word the contracts to be entirely in their own interests. You could find yourself stuck paying vastly inflated sums for a substandard apartment, or they could sneak in riders that force you to pay for fees and services you weren’t expecting.
A good real estate law firm knows all of these tricks and traps and can help you stay out of them.
- Keeping negotiations on the level
In a broader sense, having a lawyer on your side can simply avoid most of these issues. When the opposite party knows you’re represented, that becomes a strong disincentive to try any trickery in the first place. Having representation on both sides is often the best way to ensure a smooth deal which leaves everybody happy in the end.
When Buying or Selling Property in Mississauga, Call JMK Law Barristers and Solicitors
JMK Law Barristers and Solicitors have a deep understanding of Canadian property law and a focus on maintaining your interests at all times. If you’re looking at a property deal, contact us first for a free consultation.