The Seller’s Lawyer
Referral of the “Deal”
How does it arrive?
• When the Seller decides which Lawyer to use
to complete their transaction, Vision Network
Real Estate Ltd. will fax a copy of the
Agreement of Purchase and Sale to the Lawyer’s
office.
First Contact with the Client
Who calls who?
• Lawyer’s office will contact the Seller to
explain the procedure that will follow. At this
time they will be asked for additional
information i.e. who the lender is that holds
their mortgage, is there a survey, how property
taxes paid, etc.
Meetings
• Unless there are unusual circumstances, the
lawyer will contact the Seller to make an
appointment within a few days before closing to
sign the appropriate documents.
Instructions
• It is the responsibility of the Seller to
terminate services provided to them by third
parties such as utility companies, lawn
maintenance, alarm services, etc. The lawyer
cannot do this for the client because of privacy
issues.
Activities and Timelines
What does the lawyer spend their time doing?
• Once the waivers for the conditions
included in the offer are signed the Lawyer
begins collecting the necessary documents
including a payout statement from any mortgage
or charge registered against the property title.
Fees and Disbursements
FOR A “TYPICAL” SINGLE FAMILY HOME OR
CONDOMINIUM SALE
• Fee for the Lawyer’s Time
• Disbursements – searches
The final cost depends upon what is
registered against the title and issues that may
be discovered as a result of the information
collected by the lawyer or raised by the buyer’s
lawyer.
When does the client come back into the
picture?
• Sign all documentation a few days before
the closing.
Closing Day
• The Lawyer will contact the Seller when the
sale is complete. |
