Purchase or sale of your residential property is a life changing event that warrants adequate protection through every step of the transaction.

Most cases involving the sale and purchase of residential property involve the buyer and seller completing some form of agreement prior to consulting their respective lawyers. 

The residential purchase contract most commonly used is a printed standard form document prepared by the Alberta Real Estate Association [“AREA”].

PROTECTING WHAT MATTERS MOST. LEGAL PROBLEM? BETTER CALL STEVE.
 

We will perform all the due diligence required and are able to draft or review the necessary paperwork to complete the transaction.

Some of the considerations that we assist with when purchasing a property for the buyer include:

  • Review all registered interests and encumbrances registered on the Certificate of Title and confirming responsibility for discharge, if any 
  • Conditions related to the holding of the purchase deposit and the responsibility for/when holding
  • Reviewing financing conditions in the contract and requirements from the lenders in order to meet those financing conditions, with any specific deadlines 
  • Review and drafting of the purchase contract or the agreement for sale 
  • Time and manner of payment on the balance of the purchase price and dealing with the Land Titles Office
  • Review of who bears the risk until closing and any insurance that may be required

Some of the considerations that we assist with when selling a property for the seller include:

  • Reviewing the Certificate of Title for the property and confirming if consented spousal release as per the Dower Act is required
  • Review the Real Property Report or assist the seller on obtaining an updated copy 
  • Review all registered interests and encumbrances registered on the Certificate of Title and confirming responsibility for discharge, if any 
  • Drafting and sending all the required Transfer documents to the buyer and the buyer’s lawyer 
  • Paying out the seller’s mortgage upon receipt of cash to close and providing discharge through the Land Titles Office
  • Providing a free and clear Certificate of Title to the buyer.

If you are interested in purchasing or selling a property, please contact one of our Real Estate  lawyers today.

DIMIC LAW is here to PROTECT WHAT MATTERS MOST.
Legal Problem? Better Call Steve