1. What's the use of a lawyer?
1. Review procurement documents
Lawyers need to ensure that the wording of all documents is reasonable and legal in the process of buying and selling clients.
2. Investigate whether the house is legal.
Lawyers can check whether the seller's identity is legal and who is the legal owner of the house through relevant departments. If the house is purchased by the seller's loan, the lawyer can also inquire about the seller's loan financial institution to find out whether there is any outstanding loan and the amount owed.
3. Complete the cost delivery
There are many expenses involved in the transaction, including water, electricity, heating, TV and telephone, snow removal and other miscellaneous expenses, as well as service contracts signed by both parties with municipal service companies. Usually, these problems will continue to exist after delivery. The lawyer can do a good job of handover for the client before the transaction, calculate the expenses to be paid for the seller and deduct them from the house payment.
4. Complete real estate delivery
If the buyer finds any problems in the house inspection, he can inform the lawyer, and the lawyer will negotiate with the seller for maintenance to ensure that all the equipment can be used normally before handing over the house; If the seller has no time to repair, the lawyers of both parties can reach an agreement on the maintenance cost of a certain place, and finally deduct it from the house payment payable.
Before the delivery date, the lawyer will inform the buyer of all the expenses that need to be paid, including house payment, transfer fees, miscellaneous fees, attorney fees, etc. According to the lawyer's calculation, the buyer will write a check to the seller's lawyer, and then the lawyers of both parties will distribute it. These fees will be distributed to the seller, financial institutions, the government and lawyers of both parties.
The picture shows the process of buying a house in Canada, and all lawyers in Jiaxing can participate.
2. When can I hire a lawyer?
In Canada, at least before signing a contract, you can ask a lawyer to review the contract. In particular, the new house contract may require additional expenses, such as management and maintenance costs, road construction costs, planting trees and grass, etc. , sometimes reaching 1 10,000 yuan to 20,000 yuan. Many property buyers don't understand the situation, only to find that it is too late when they hand over the house. Therefore, before signing the contract, please ask a lawyer to review the contract, at least you can know fairly well.
Before buying and selling a house, all documents should be submitted to the lawyer about one month in advance. Because the Canadian house sales contract will stipulate the time limit for property right investigation, so that lawyers can complete the property right investigation before the specified time. If there is any problem, you can cancel the house purchase contract and return the deposit, and the buyer will not bear any responsibility; If the problem is found within the time limit, the buyer can't interrupt the transaction and can only perform the contract. During the property right investigation, many links are out of the lawyer's control, such as the government's reply to tax documents, such as the bank's approval of loans, so lawyers should be given sufficient preparation time.
The picture shows the process of buying a house with a loan in Canada, which shows the importance of lawyers.
3. Can a lawyer sign a contract as a client?
Due to visa restrictions, some overseas buyers have to leave the country before they can deliver the house, which involves the issue of power of attorney. In Canada, the buyer's agent and lawyer are not allowed to be the buyer's principal, so the buyer can find someone other than them to exercise the right to sign the contract. When signing a house purchase contract in Canada, you need to use the prescribed unified form, which can be downloaded from the Internet or you can hire a lawyer, who will notarize it when the customer signs it. If you need to pay attention to the loan to buy a house, considering that more than 90% of mortgage fraud cases are related to the power of attorney, many banks in Canada do not recognize the entrustment, so once you have to leave the country, you must consult the loan bank whether to accept the entrustment.
Under normal circumstances, buyers and sellers will not hire the same lawyer. After all, the lawyer's responsibility is to protect the rights and interests of the parties, and there are conflicts of interest between buyers and sellers. In Canada, lawyer's fees include fees charged on behalf of the government, property rights investigation fees and other miscellaneous fees, as well as lawyer's fees, with different charging standards.
Liu Zhen, an overseas agent of Chain Home, also contributed to this article.
This content only applies to Beijing.