Edmonton Alberta Real Estate Lawyers
With a proven track record, MD Law Group ensures highly effective legal solutions to our local and country-wide clients! With this said, above all else, our number one priority as real estate legal professionals are ensuring your deal, whether it involves buying, selling, or refinancing, goes smoothly and efficiently.
Why You Need a Real Estate Lawyer
Dealing with real estate can be tricky, but it doesn’t have to be! Let us relieve you of all the pressures of home purchasing, selling, and refinancing semantics by putting your trust in our Alberta MD Real Estate lawyers. Our team has dealt with a vast range of clients with various real estate needs. Whether it’s your first time with a real estate lawyer or just another visit, our real estate law firm stands by our priority to ensure you understand every step of the process.
With this said, please don’t leave it to the last minute to get in touch with us; even if you’re unsure of your next steps regarding purchasing or selling a home, please reach out.
Why you should choose MD Real Estate for All of Your Real Estate Needs
At MD Real Estate, we stand by three key ingredients to ensuring your real estate deal goes off without a hitch – being personal, proactive, and productive. These three defining traits of our firm combine to ensure that you benefit from sensible, honest legal advice when purchasing or selling your home.
Real estate semantics can be highly confusing, but at MD Real Estate, we will keep you calm to help you assess all your decisions with clarity. Rest easy knowing that our advice is backed by the experience of dealing with a host of real estate situations from previous clients. As legal professionals, you can trust our knowledge as we help guide you through the process as there aren’t many real estate problems we haven’t overseen before.
Ultimately, our commitment comes down to defending your legal rights and ensuring that you’re treated fairly throughout the entirety of the real estate process. When you need us most, we’ll be there to offer sound, sensible legal advice, and sure guidance.
How To Select Alberta Real Estate Lawyers
There are a few key factors that can help you predict a less stressful experience when hiring an Alberta real estate lawyer. First, make sure to check their qualifications and experience. Second, ask for referrals from friends or family who have used their services in the past. Finally, meet with them in person to get a feel for their professionalism and expertise. By following these simple tips, you can be sure to find the right lawyer for your needs.
Real Estate Focused Lawyers
If you're looking for a real estate lawyer in Alberta, it's important to find one who specializes in this area of law. An experienced real estate lawyer will know how to handle a variety of situations and will be able to provide you with the best possible legal advice. Not all lawyers are created equal, so it's important to choose one who has the experience and vast expertise that you need.
Trust And Fit
Not all personalities work together well. As a firm, we remain focused on taking our work seriously. We do not take ourselves seriously. All our lawyers love what they do and enjoy the practice of law. Most of our clients appreciate this approach. We value this fit. Trust is also a very key aspect. From an Alberta Law Society perspective, we cannot act for a client who we think does not trust in our ability. We take that much further in that we see trust as a main draw to using our firm.
Legal Fees for Real Estate Transactions
Most people prefer to know what any good or service costs before committing. Our belief consistently includes a focus on transparency and certainty.
We further believe that all Alberta real estate lawyers should be knowledgeable enough to give you a clearly understood fixed rate. That their understanding of the law is such that they know the costs associated with completing their transactions
We have a team of real estate lawyers in Alberta who are passionate about providing excellent service and achieving great results for our clients. Contact us today to find out how we can help you with your real estate transaction.
Who Our Alberta Real Estate Lawyers Represent
When it comes to real estate, our law firm has a wealth of experience representing a wide range of clients. We have represented lenders, borrowers, condominium owners, land developers, condo corporations, builders (large and small), and condominium developers. Our experience allows us to provide our clients with the best possible legal advice and representation. If you are involved in any aspect of the real estate industry, we can help you. Contact us today to learn more.
Lenders
An Alberta real estate lawyer could assist lenders in several ways. First, they could help to ensure that the loan agreement is properly drafted and that all the necessary clauses are included. This will protect the lender's interests if the borrower defaults on the loan.
Second, they could review the title to the property to be sure that it is free and clear of any liens or encumbrances. This would again protect the lender's interest if the borrower was to default on the loan.
Finally, an Alberta real estate lawyer could provide general legal advice and assistance to the lender throughout the process of lending money to a borrower for the purchase of the real estate. This would include advising on any potential risks involved in the loan and helping to negotiate any necessary terms and conditions.
In short, an Alberta real estate lawyer could be an asset to any lender who is considering lending money for the purchase of real estate.
Borrowers
An Alberta real estate lawyer could assist Borrowers by preparing and reviewing the sales contract, ensuring that the Borrower's rights are protected, and acting as a mediator between the Borrower and the Seller if there are any disagreements. The lawyer would also be able to attend the closing of the sale and represent the Borrower's interests.
Land Developers
An Alberta real estate lawyer could assist Land developers in several ways. Lawyers can provide advice on the best way to develop land, how to obtain the necessary permits and approvals, and how to structure transactions to minimize risk. They can also review documents and advise on the potential legal implications of proposed development projects.
In addition, lawyers can represent developers in negotiations with government agencies, landowners, and other interested parties. Finally, lawyers can assist developers in enforcing their rights if problems arise during or after the development process.
MD Law Group real estate lawyers have the experience and expertise to assist developers in all aspects of land development. By working with a lawyer, developers can ensure that their projects proceed smoothly and efficiently and that they can realize the maximum value from their investment.
Builders
An Alberta real estate lawyer could assist Builders with a variety of tasks, including contract drafting and negotiation, title searches, zoning and permit approvals, and construction liens. A lawyer could also help to resolve any disputes that may arise during a project.
Having a real estate lawyer on your team can help to ensure that your building project goes smoothly and according to plan. Your lawyer can assist you with a variety of tasks, from contract drafting and negotiation to title searches, zoning and permit approvals, and construction liens. If a dispute arises during your project, your lawyer will be able to represent you and advocate on your behalf.
If you are planning a building project in Alberta, contact our real estate lawyer today to learn more about how they can help you.
Condominium Developers
An Alberta real estate lawyer could assist Condominium developers in several ways. For instance, a lawyer could help developers draft and review condominium documents such as the declaration, by-laws, and rules and regulations. A lawyer could also advise developers on compliance with the
Alberta Condominium Property Act and other relevant legislation
Additionally, a lawyer could represent developers in negotiations with potential buyers, lenders, and other interested parties. Finally, a lawyer could assist developers with the management of their condominium properties after they are completed.
Overall, an Alberta real estate lawyer could provide a great deal of assistance to condominium developers. By helping to draft and review documents, advising on compliance matters, representing developers in negotiations, and assisting with property management, a lawyer could help make the process of developing a condominium much smoother and less stressful.
Alberta Sellers’ Guide
It’s important to be specific about which Chattels are included or excluded in the Offer of Purchase and Sale. For example, if you're selling a home, you'll want to specify whether appliances, mirrors, drapes, light fixtures, etc., come with the property. When possible, include serial numbers for any item that is included in the Offer of Purchase and Sale. This helps to ensure that everyone understands exactly what items are being transferred as part of the sale.
Additionally, having a clear record of which chattels are included in the offer can help protect both parties from disputes down the line. It’s essential to make sure that all negotiations regarding chattels are clearly outlined in writing and signed by both parties. This ensures that everyone is on the same page and can help to eliminate confusion or potential disputes in the future.
In addition to these details, Purchasers may also be interested in learning whether there is a warranty on the house that can be assigned. If so, this would provide an extra layer of security and assurance for the Purchaser that any repairs or issues will be taken care of during their ownership.
The Seller should also provide information regarding any significant improvements to the house that have been made recently – such as replacing the furnace, installing a new roof, etc. – as this may impact the sale price and/or the level of interest from potential buyers. Purchasers may also want access to original or other plans/specifications which they could use to modify or renovate the home if desired; providing potential benefit for both parties involved in the transaction.
When selling a property, understanding the commission payable to the real estate agent is essential. The commission is typically a percentage of the sale price and is agreed upon before listing a property. The amount can differ based on local market conditions, the type of property being sold, and the services provided by the agent.
The seller is generally responsible for paying the commission; however, this should be discussed with your real estate agent as they may have different payment arrangements in place. Understanding when payment needs to be made is also important — most agents will require payment before settlement or within 30 days of settlement.
Knowing how much commission you’re likely to pay and when it needs to be paid will give you peace of mind throughout your sales process. Make sure to discuss these terms with your real estate agent, so you are both on the same page.
Time limits are especially important for matters that must be completed or complied with before closing. Having reasonable time limits in place can help make sure the closing process runs smoothly and any issues can be dealt with promptly. Additionally, it's a good idea to have clear expectations about what needs to be done and by when; this will ensure everyone involved understands their obligations and roles. Finally, having an agreed-upon timeline of events helps ensure that all parties remain on track throughout the entire process.
Before closing in on a home, it's important to order a Real Property Report (RPR) and compliance certificate. This report provides information about the property and local municipal regulations, such as zoning requirements and building permits. It also helps you identify any potential issues that could delay or prevent the closing of the property.
It is recommended that you order your RPR and compliance certificate as soon as possible so that there is enough time to obtain any additional permits which may be required by the local municipality before closing. Having this information beforehand can help ensure that your closing process goes smoothly, saving you time and money in the long run. So don't wait! Make sure that you get your RPR, and compliance certificate taken care of today.
Alberta Real Estate Buyer’s Guide
When making an offer on a home, it's important to include conditions in the contract that protect you as the buyer. One of the most common contingencies is subject to financing, which allows you to have a certain amount of time to secure financing for the purchase and can be especially useful if you need to take out a loan or mortgage.
A building inspection is also recommended so that you're aware of any potential issues with the property before moving forward with your purchase. In addition, ensure that a recent Real Property Report with Compliance Certificate is included in your contract; this document will provide important information about any encumbrances or liens registered against the property.
Finally, it is wise to make your offer subject to a lawyer’s approval; this will allow you to have an experienced professional review of all the contract documents and provide you with advice on any risks or obligations that may arise. By including these conditions in your offer, you can be sure you're making a sound decision before committing to a purchase.
When you make an offer on a property, it is important to include a time limit for acceptance by the seller. This will provide clarity and help ensure that the deal moves forward promptly. Offers should typically include a 48-hour window for acceptance, but this may vary depending on the circumstances of the transaction.
Including a deadline will also help reduce the chance of missed opportunities or delays due to buyers or sellers changing their minds. It is ultimately up to both parties to agree upon a timeline they are comfortable with but understanding when decisions need to be made can make negotiations easier and more efficient. Ultimately, setting an expiration date gives both parties peace of mind knowing that if nothing happens within that timeline, any existing offers become void.
Setting a timeline for acceptance is an important part of any real estate transaction, and it can make the process much simpler. Be sure to discuss the time frame with your agent before making an offer, so you can feel confident that everyone understands the expectations. Making offers without setting a deadline could lead to confusion and frustration, so be sure to include this piece of information when negotiating a sale!
It is important to note that any objects connected to the property, such as appliances and furniture, are known as chattels. It is essential to include a detailed list of these items in the Offer to Purchase and Sale agreement so that it is clear which ones will be included or excluded from the purchase, as well as what condition they are in.
If possible, this should also include serial numbers if applicable. This way, both parties have a written record of what was agreed upon and can avoid any disputes further down the line. Such a measure provides clarity for all involved in the transaction and ensures everyone understands exactly what is being purchased regarding chattels.
In some cases, depending on the item in question, it may also be necessary to provide proof that items such as appliances have been certified by a licensed technician. It is extremely important to ensure these details are included in the document so that both parties are fully aware of what is being purchased and avoid any potential disputes further down the line.
This will help to make sure everyone involved understands exactly what they are buying or selling in terms of chattels, thus providing clarity to the transaction. Additionally, this can serve as evidence should any legal proceedings arise about the purchase or sale agreement.
When assuming an existing mortgage, make sure that the loan is not unassumable due to any prepayment penalties. It's important to contact the lender in advance to ensure that you fully understand their requirements for assuming the loan. Make sure to ask about any additional fees associated with the transfer of ownership, as well as any restrictions on how and when payments can be made. Additionally, be aware of any changes in terms or interest rates that may occur upon assuming the loan.
It's also a good idea to obtain a copy of your credit report before applying for an assumable mortgage so you have a clear understanding of your standing with lenders. Knowing this information will help you prepare accordingly if there are areas needing improvement before you begin the loan process. Being prepared before you apply is essential for getting approved and will help to ensure a smooth transition.
The assumable mortgage process can be complex and intimidating, but with proper research and understanding of the requirements, it can be an effective way to purchase a home. Be sure to take your time researching the loan options available and consult with an experienced lender if necessary. Taking these steps will help you assume an existing mortgage confidently and successfully.
Typical Fees Involved in Buying a Home
In Alberta, Canada, there are several fees associated with buying a home. These include legal fees, land transfer taxes, and insurance premiums.
Legal Fees: Legal fees for the purchase and sale of a home in Alberta can range from around $400 to over $2,000 depending on the complexity of the transaction and whether you have an experienced lawyer representing you. These costs typically cover things such as title searches, drawing up contracts, and providing legal advice throughout the process.
Land Transfer Tax: When purchasing property in Alberta you will be required to pay either provincial or municipal land transfer tax. Provincial land transfer tax is payable at 1% on properties valued at more than $500,000 while municipal land transfer tax is payable at 1-2% depending on the municipality.
Insurance Premiums: Homeowners in Alberta are required to have insurance on their property. These premiums typically cover things like fire, flood, theft, and other perils that might occur during the ownership of the home. The amount of the premium will depend on factors such as the size and location of the home, as well as the coverage limits chosen by the homeowner.
In addition to these fees, there may also be additional costs such as moving expenses, connection fees for utilities and services, and repairs or improvements necessary before move-in. It is important to factor in all these costs when budgeting for a new home purchase. Ultimately, it is best to talk to a real estate professional to get an accurate estimate of all the costs associated with purchasing a home in Alberta. With the right information, you can make sure that you are prepared for any costs necessary to complete your purchase.
In addition, there may be additional one-time or recurring fees associated with owning a home such as a mortgage insurance or strata fees. Mortgage insurance is typically required on down payments lower than 20% and protects the bank in case of a default payment. Strata fees are mandatory if you are buying into a condominium building, and cover maintenance and upkeep of common areas such as lobbies, gardens, swimming pools, gyms, etc., as well as other shared expenses like insurance premiums, utilities, and more. It is important to factor these additional costs into your budget when considering a home purchase in Alberta.
Overall, the fees associated with buying a home can seem daunting but understanding them upfront will help make sure you are set up for success throughout the process. With careful consideration of all costs involved and proper financial planning, purchasing a home in Alberta can be an exciting and rewarding experience. And as always, seek professional advice from a realtor or lawyer if needed!
What Do I Get for My Legal Fees?
When going through the process of buying or selling real estate in Alberta, Canada, there are legal fees associated with the transaction. The specifics of what is included in these legal fees will vary depending on the services provided by your lawyer.
However, some typical items that may be included in Alberta real estate legal fees include:
- Title search – Your lawyer’s office will conduct a title search to determine who owns the property and if there are any claims against it. This ensures that you have a clear title when purchasing a home and assures you that the seller has full authority to transfer ownership of the property.
- Preparation of documents – The lawyer will prepare all relevant documents for both buyer and seller, such as the Agreement of Purchase and Sale and mortgage documents. They will also review all paperwork to ensure accuracy.
- Finalizing the transaction – The lawyer’s office will handle any final steps that need to be taken to complete the sale, including registering the deed at the registry office, transferring ownership of title insurance from seller to buyer, collecting funds from the lender if applicable and carrying out any follow-up on open items with both parties.
- Representation at closing – In some cases, you may have your lawyer represent you or accompany you when signing closing documents at a bank or other financial institution. This can provide comfort in knowing that your interests are being looked after by an experienced professional.
- Property transfer tax – Depending on where the property is located, there may be a one-time transfer tax that needs to be paid upon completion of the sale. Your lawyer will take care of calculating and paying this amount for you at closing.
- Title Insurance – A title insurance policy protects in case any future problems arise from the title of the property being transferred (such as another person claiming ownership). This is usually optional but can give added peace of mind when purchasing a home.
- Disbursements – Lastly, disbursements are costs associated with filing documents, conducting searches, registration fees, etc. These are generally charged separately from the legal fee itself and vary depending on what services were provided.
In general, the legal fees associated with buying and selling real estate in Alberta, Canada can range from a few hundred dollars to several thousand depending on the complexity of the transaction. It’s important to discuss all these details ahead of time with your lawyer so that you are aware of what costs may be incurred before entering into any agreements. With a clear understanding of what is involved in the process comes the peace of mind that everything will go smoothly!
Real Estate Law FAQS
What is the “concept of ownership”
In Alberta, the Crown has owned all mines and mineral rights since 1905 by Royal reservation. This means that any minerals or resources found on private land must be accessed with permission from the owner of that land. Additionally, for any mineral activity to take place on public land in Alberta, a surface material lease is required from the Province of Alberta. All these activities are regulated by the Ministry of Energy under the Mines & Minerals Act.
It’s important to note that all land in Alberta is registered at the Provincial Government Land Titles Office (LTO). This office helps protect property owners by keeping accurate records of who owns what property and ensuring that their ownership is respected. As such, it’s essential for anyone looking to access mineral resources in Alberta to understand the processes and regulations put in place by the Ministry of Energy and LTO.
By understanding these regulations, landowners can make informed decisions about their property and any mineral activities taking place on it. This will help ensure that both parties are aware of their rights and responsibilities, allowing for a smooth collaboration process with the best possible outcome for everyone involved.
Making sure to follow all relevant regulations is key to making sure that mineral activities take place safely and successfully. The Province of Alberta is committed to ensuring that all landowners have the knowledge they need to make informed decisions about how their land is used. By understanding how ownership works, you can work towards protecting your property rights as well as the rights of other parties involved.
Knowing the laws and regulations around land ownership in Alberta is essential for anyone looking to access mineral resources on public or private land. It’s important to take the time to research and understand all relevant regulations so that mineral activities can be conducted safely and responsibly. Doing so will help ensure that both landowners and miners have their rights respected while everyone plays their part in protecting our shared environment.
What are “Title Searches (Encumbrances)?
The lawyer also evaluates all financial arrangements and ensures that the documents related to your purchase are in order. This includes reviewing any applicable loan documents, as well as checking for mortgages or liens held by third parties against the property. It is of utmost importance that everything is properly recorded in the title.
The lawyer will ensure all necessary permits have been obtained for various improvements which have been made to the property, like additions or renovations. This prevents potential legal issues down the road since these types of improvements require local authority approval before completion.
Finally, the lawyer’s job is to provide you with a clear title at closing and provide their expert opinion on any risks associated with purchasing a home, such as zoning regulations or development restrictions. They will also provide you with important advice on the title, such as the right of way or access agreements.
By taking these steps, your lawyer protects you from unforeseen legal issues and ensures a smooth closing process. It is their responsibility to make sure that the title to your home is clear and unencumbered so that you can be sure of a worry-free purchase.
What are “Real Property Reports?
This report will show all the improvements to the land, which can range from houses and garages to fencing, decks, covered walkways, sheds, fire pits, dog runs, hot tubs, and driveways. It should be noted that trees are not included in this report.
By looking at the report you can get an overview of how much work has been done on the land. You may be interested in seeing what kind of house has been built or if a deck or hot tub has been added since your last visit. You may also want to know what type of fencing has been installed or any additional amenities such as a fire pit or shed.
The report is important for anyone looking to purchase land as it shows the current state of the land and any improvements that have been made. It can help buyers get an idea of what kind of investment they are getting into, as well as help them plan for future projects on the property.
A report is also a useful tool for real estate agents to showcase properties, as it gives potential buyers an idea of what could be done with the land and what already exists. Knowing these details helps buyers make informed decisions about their purchases.
By having a detailed report outlining all improvements made to the land, buyers and agents alike can confidently assess its value and make smart decisions moving forward. This makes purchasing or selling property smoother, easier, and more successful overall.
What is “Compliance and Non-conformance?
It's important to understand the difference between compliance and non-conformance when it comes to a home inspection report. Compliance means that the home is up to date with city building codes and setback regulations; essentially, if you were to build the same house today, it would still pass the city's requirements. On the other hand, non-conformance means that although the home does not comply with current standards, because of its age it will be “grandfathered” by the city so that these issues don't need to be addressed.
Your lawyer will explain both scenarios in greater detail during their review of your inspection report. Knowing if your home is compliant or non-compliant can help you make informed decisions about the future of your property and the best course of action to take. If you have any questions, your lawyer will be happy to answer them.
As always, it's important to consult with a trusted professional when making decisions about your home inspection report. Your lawyer will provide expert advice on compliance and non-conformance so that you can make informed decisions about your home or potential purchase.
Working together, you and your lawyer can ensure that all city building codes and setback regulations are addressed in a way that is beneficial for you. With this knowledge in hand, you can rest assured knowing that you have made an informed decision about the future of your home or potential purchase. Knowing what compliance and non-conformance mean will help you make the best decision for your property. Your lawyer is there to answer any questions or concerns you may have - so don't hesitate to reach out!
