Real Estate Sellers
Often, home buyers must sell their current residence to purchase a new one. Sellers, like buyers, have distinct responsibilities in a real estate transaction. At McMurter & Associates, we advise and represent sellers as part of our real estate practice. If you are purchasing a new home and selling your existing residence, we can advise you in both transactions.
We are located in Whitby, Ontario, and provide services in Oshawa and the Durham Region. Our lawyers help real estate sellers understand and give effect to the agreement they have reached to transfer ownership of their property.
Services To Sellers
Once you have agreed to sell your home, your real estate agent will prepare a binding contract between you and the buyer. As your law team, we review this agreement and:
- Perform a search of the property.
- Request a discharge statement for each mortgage or lien on the title.
- Prepare a transfer and review affidavits provided by the buyer’s lawyer.
- Meet with you before the closing to obtain a key to the residence.
- Pay the real estate commission, mortgages, legal fees and proceeds of the sale to you after the closing, usually the same day.
Even if you are an experienced seller, you may have questions about your real estate deal and the purchase of a new home. We welcome your inquiries at all stages of the process. For us, real estate transactions are something we do every day and have done countless times over our 30 years in practice. Homeowners, however, will have notably less experience with this process and should rely on their lawyers for advice and guidance. This is what we are here to provide.
Our charge for closing a home sale is $999.00 + HST. This includes all fees and disbursements and, if necessary, discharging one mortgage and two debts.
✱ On homes priced up to $500,000.00.
Legal fees will vary depending on the complexity and price of your real estate transaction. In addition to legal fees, there are other costs associated with a home purchase. The following prices are valid throughout Durham Region and the GTA.
Legal Fees for Selling a Home (includes discharging one mortgage):
- $999.00 (+HST for houses priced up to $500,000.00)
- $1,149.00 (+HST for houses priced $500,000.00 to $750,000.00)
- $1,299.00 (+HST for houses priced $750,000.00 to $1,000,000.00)
We also have special rates for first-time buyers.
What’s Not Included:
Purchasers are also responsible for HST and the following permitted disbursements: land transfer tax, government document registration fees, fees charged by government, Teranet fees, the cost of a condominium status certificate, payment for letters from creditors’ lawyers regarding similar name executions and any title insurance premium.
First time buyers may be entitled to a reduction in Land Transfer Tax up to $4,000.00. Please see our website for more information.