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Streamed live on Apr 30, 2014
Need a Real Estate Lawyer in Mississauga? Call us today at (289) 724-1590.
Any agreement to purchase or offer land must be in writing if it is to be implemented, so having a reliable real estate lawyer is necessary. A verbal contract, when it comes to realty agreements, is not enforceable by law. Many people end up being annoyed and miserable due to the fact that they thought they had "an agreement" with someone else to buy or sell property, only to find that it was not legally binding. "Verbal Agreements" are not enforceable, so you need to ensure that intentions written on a legally enforceable agreement.
For many people, this is the greatest and most investment or purchase they will ever make. The first time we go through the experience, we should always make sure we have reliable people to see us through the process, so that we don't experience sleepless nights. A recommended realty representative and a realty lawyer and very important when it comes to peace of mind.
If you decide that you require the assistance of a realty representative, it will be required to enter into a contract where you, the vendor of the property, accept to provide the real estate agent a percentage (between 3-8%) of the invest in price if they assist with home purchase/sale. The amount is determined by two factors. Is the of property is listed on MLS (Multiple Listing Service), or is the property a unique listing with only your realty agent?
Your realty agent will help find your home for your, or help to sell your home. Your real estate lawyer will assist you with all the legal documentations to ensure that everything is included in the contract and all conditions are met. The Contract of Purchase and Sale. is generally in a standard kind suggested by the regional real estate board. This contrat may go through numerous stages with offers and counter-offers being exchanged in between the supplier and the purchaser. Each modification is initialed by the parties to acknowledge exactly how the contract has been chanced and what is has been agreed to between the two parties. Once you reached the point where both parties have agreed to the terms, it is helpful insist that a fresh version of the contract be typed up, to ensure that you are both on the same page and nothing was missed. This will ensure that confusion and problems at a later date are incurred and your closing date be delayed. Your realty attorney is always available to help with any questions you may have.
For a Real Estate Lawyer in Mississauga call (289) 724-1590.