Real Estate Lawyers
Real Estate Lawyers
Your property purchase or sale is one of the biggest financial transactions of your life. That’s why you need a law firm that will ensure this crucial transaction is processed and filed accurately and efficiently.
Our Abbotsford or Surrey real estate lawyers are ready to help. At DNC Integra Lawyers, we have accumulated 25 years of knowledge and experience in the industry, so we can help you move through this process quickly, efficiently and seamlessly. We take the time to answer your questions, return calls promptly and ensure you understand the meaning of the documents you sign. Our law firm is approved by all major banks and credit unions for mortgage work and we are a preferred provider referred by many local realtors.
Our staff will provide you with friendly and knowledgeable service and our lawyers will ensure you understand what documents you are signing. We believe it is important to return your calls promptly and we take the time to answer all your questions. Many realtors have us on their recommended list for lawyers and we are approved by all the major Banks and Credit Unions for their mortgage work.
You want qualified people handling one of the most important financial transactions of your life. Our Staff has over 25 years of experience in successfully completing home purchases and sales.
To contact us right away, fill out the below form. For more information on buying, selling, and refinancing see below.
I have sent multiple complicated real estate matters to Amrik for legal advice over the last several years. Amrik’s knowledge of contract law combined with his experience as a real estate investor has allowed him to provide cost efficient and practical advice to my clients.
Parv Harry, Realtor, Remax Little Oak
Buying a Home
Before arriving for your appointment at our office, please ensure you bring the following:
- your realtor’s contact information
- the strata contact, insurer and lender/mortgage broker’s contact details
- two pieces of identification, including one government photo ID (a bank card or MSP card generally works as a second piece of ID) as well as your Social Insurance Number, which is required by the provincial government
Mortgages
If you need a mortgage, we will need your home insurer’s contact information and in some cases your employer’s information. Our conveyancers will let you know when the mortgage instructions come in.
Taxes and Adjustments
If you are a first time home buyer or purchasing a new home, you may be eligible for a property transfer tax (PTT) exemption if you fall under a certain threshold which we explain at our meeting with you. In the event you do not qualify for an exemption, budget for a 1% tax on the first $200,000 and 2% tax on the remainder. Foreign buyers may be subject to a 15% levy. New homes may be eligible for a partial GST rebate if the purchase price is under $450,000. If not, GST applies.
Municipal property taxes are due the first business day in July. The tax year is from January to December, so if you buy in or after July and the seller prepaid his/her taxes, you will be required to credit the seller for your portion of the tax year.
Strata
If the property is a strata you may have to pay strata fees for the next month and/or move-in fees from a strata at the time of purchase. Because we have to order strata forms, we need at least a week’s notice to prevent surcharges for rush fees.
Selling a Property
Before arriving for your appointment at our office, please ensure you bring your address and realtor’s information.
Mortgages
If there is a mortgage or line of credit secured against your property we will need to order a payout statement from the bank.
Taxes and adjustments
While the sale of your home is generally tax free, you should know about the following taxes and additional fees:
- GST is charged only if there is a developer, commercial property, or farmer.
- For non-resident owners, lawyers are required to hold 25% of the sale proceeds until the seller obtains clearance from Canada Revenue.
- Acreage, recreational and investment properties may be subject to capital gains taxes, due along with taxes. You may want to speak to an accountant for further clarification.
- Property taxes are prorated and split between the buyer and seller. Any overdue property taxes will need to be paid.
- Some strata managers charge a move-out fee . Any overdue strata fees will need to be settled.
- Any overdue taxes or utility bills need to be paid on closing. Where water is billed by usage, we will often hold back money until we confirm the final utility bill.
Buying and Selling
Whether you are buying or selling a home we are able to navigate through the legal processes so that you are protected and all necessary registrations take place in a timely fashion.
Refinancing
Our team of lawyers appreciate the complexity of bank financing rules and we have represented numerous clients who are refinancing their homes or commercial properties.
