REAL ESTATE

Congratulations on your real estate transaction! If you are buying or selling a house or commercial property, chances are you are embarking on a new chapter of your life. This can be an exciting time, but also a busy and stressful one. It is important to choose a Real Estate Lawyer that will help you manage the stressful parts so that you can get back to the more important things. 

Smolensky Law offers professional and efficient legal representation for your sale, purchase, commercial transaction, or mortgage refinancing. Whether you are the type of person who would like to be kept updated at every step, or the type of person who just wants to know when it is done, Stephanie Smolensky is here to help you through the process.  

 

WHAT DOES A REAL ESTATE LAWYER DO? 
A Real Estate Lawyer's job is to make sure that your interests are protected, and to facilitate the sale or purchase of a property. Amongst other things, Real Estate Lawyers create your mortgage, prepare property transfer documents, deal with any encumbrances on title, and make sure the money goes to the appropriate people. 

 

Your Lawyer for the transaction is not only your advocate, but your translator. Do not hesitate to ask for clarification on what a clause or term may mean in your purchase/sales contract, or at any time during the process. Words that are commonly used in a real estate are not part of our everyday vernacular and it is normal to be unsure of their definition. 

A commercial Real Estate Lawyer will be able to complete your property purchase along with a broader scope of services. They will review and negotiate contracts before signing, assist with leases and tenancy issues, advise on matters related to property development, and liaise with corporate lenders. 

Both commercial and residential transactions can have hiccups, such is the way of things. A good Real Estate Lawyer will make you aware of these problems as soon as they arise and work hard to rectify them. 

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WHAT ARE DISBURSEMENTS? 

When shopping for a legal real estate quote you will often hear the word "disbursements". These are expenses paid to a third party on your behalf. Disbursements depend very heavily on what kind of property you have, who your bank is, and the terms of your real estate contract.

 

Disbursements usually include courier fees, search fees (tax, title, and personal), conveyancing software fees, mortgage software fees, insurance fees, and so on. 

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For a purchase your biggest disbursement is usually the transfer of land and mortgage registration fees. Alberta Land Titles charges a tariff when you buy a house, and that tariff is $50, plus an additional $2 for every $5000 of property value. They also charge for mortgages to be registered, and that is $50 plus an additional $1.50 for every $5000 of your mortgage being registered. So for example, if you purchase a $450,000 property with a $400,000 mortgage on it, this would cost you a total of $400 in registration fees.

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Some law firms have set Disbursement costs, such as a flat $60.00 for couriers, etc. Other firms charge based on exactly your individual costs. In the latter instance your lawyer cannot always predict what kind of disbursements you will have to pay, but they can usually give you an estimate. 

FEES

Residential Fees:

$950.00 per Purchase + GST + Disbursements

$300.00 per Transfer of Land + GST + Disbursements

$650.00 per Refinance ONLY + GST + Disbursements

$1250.00 per Sale (GST and Disbursements Included)

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Prices are subject to additional fees depending on the complexity of the matter. Please contact Smolensky Law for a more accurate quote or for transactions not listed here. 

Commercial Real Estate Fees:

Contact Smolensky Law for a quote on your Commercial Real Estate Transaction. 
 

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