Why Use a Real Estate Lawyer for My House Purchase or Sale?
Here’s the scenario. When we get a new Alberta real estate transaction sent to us here at RMLO Law LLP in Edmonton, I take a look at what lawyer/law firm is representing the other party. Normally it’s a law firm that does a lot of real estate. Great, that means that we will be working with somebody who understands how real estate works with respect to timing, documentation, and nuances of this legal specialty. What I hate to see is if the law firm is better known for their expertise in other legal specialties, such as divorce law or litigation.
Yes, we are all lawyers but it’s an age of specialization. Continue reading
Can We Both Use the Same Lawyer in a Real Estate Transaction?
This question comes up all the time in my Alberta real estate legal practice. I’ll get a call from a buyer or seller, we discuss the details of their purchase or sale and then the question comes up: “This is a simple deal and we want to save some money on legal fees. Can we both use you as our lawyer to close this deal?”
The short answer is maybe, but practically speaking, no. Continue reading
“Caveat Emptor: Buyer Beware.”
What can you do if you discover major problems with a property after buying real estate in Alberta? There are a number of legal and practical issues. First let me tell you about a situation that a client brought to me, and then I’ll explain what I advised. Continue reading
Want Cheap Lawyer’s Fees?
Stop reading if you don’t like saving money! This blog post is aimed at helping you tame your legal bills in general, and with real estate transactions in particular. Continue reading
I’ve got a purchase contract for buying a house.
Congratulations, you’ve done it! It’s been a long journey. You thought about it and talked about it and finally decided, “it’s time to buy our new home!”
“How much are legal fees to buy and sell a house in Alberta?” This is the number one search, the question everyone wants answered. So, here are some answers based on my law firm (RMLO Law LLP), and some comments about how much it costs for real estate lawyer’s fees in Edmonton.
First of all, there are no, “standard” legal fees. Continue reading
Focus on Real Estate: Quick Tips.
In this video, Barry explains what a lawyer does for you when you buy or sell real estate. Below are two of the highlights. If you need an Edmonton real estate lawyer, get in touch with Barry at RMLO Law LLP.
- A buyer’s attorney prepares the mortgage documents that lenders won’t let borrowers prepare themselves.
- A seller’s lawyer manages the money in a transaction to make sure that all outstanding debts or taxes are paid, which mean the seller receives their cash with no strings attached.
This is the next instalment of Focus on Real Estate with Barry C. McGuire, a series of videos that provides bite-sized pieces of real estate knowledge.
If you’re buying or selling real estate in Alberta, contact Barry now!
Videos co-produced by the Real Estate Investment Network (REIN) as a Google Partner.
Podcast Episode 69:
“Lawyer? I Don’t Need No Stinking Lawyer!”
Experienced investors sometimes do real estate deals without the help of a lawyer. But even knowledgeable people can miss things that a professional wouldn’t! In this Tale, we have a seasoned investor who acted for himself when he bought a property, but got help from me when he was selling. I found a couple of things registered on the title that he wasn’t aware of. Lucky for him, it was quick and easy to have these removed, but it could have been much worse. If you are going to be your own lawyer, make sure to be even more diligent because you’ll be dealing without backup…
Download the audio file HERE and the text/handout HERE.
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The Edmonton Journal‘s Scott Bollinger has written a helpful series of articles called Real Estate Matters. In this edition, he breaks down what a real estate lawyer does, and why you need one when buying or selling properties. Link to the article: HERE.
The whole thing is worth a read, but two quotes stood out. The first is applicable in general: Continue reading