While you don’t need to choose a real estate lawyer before you make an offer it is good to have a real estate lawyer chosen as soon as possible. One of the many advantages of going through a trusted Saskatoon real estate agent to represent you in the largest purchase of your life is that our team of professionals takes care of all of your documents and sends all instructions to the lawyers to make the transaction go smooth. The lawyer in the transaction is an absolute necessity as they register your mortgage at Land Titles (there is a non-negotiable fee dependant on the purchase price of your home). They search the title to ensure there are no encumbrances or caveats and to ensure the seller is the legal owner. They prepare all of the documents and communicate with your bank to move get the money moved to the seller’s lawyer and bank. It is extremely important to have a Saskatoon real estate lawyer acting on your behalf as if you ask a lawyer who doesn’t have the experience in real estate you may end up with a lot of issues so remember, you get what you pay for and make sure your lawyer knows what they are doing as there are a lot of things to know.
Please note, due to land title transfer fees it is more expensive to buy a home than to sell so be prepared to have approximately 2% of the purchase price of the home saved up for “Closing Costs”. When calling for quotes from real estate lawyers they will be able to give you a fairly accurate estimate of what you will need to pay. The largest variable is if the seller has pre-paid the taxes for the year as you will need to pay them back as of the day of possession. If they have not paid the taxes it is up to them to pay them up until the day of possession.
You also need to deal with a real estate lawyer in Saskatchewan so if you are from out of province and already have a lawyer in your province, unless they are licensed as well in Saskatchewan, you will have to get another lawyer here. I can recommend a few real estate lawyers in Saskatoon as well as in other cities if you aren’t living in Saskatoon.