How Our Experienced Real Estate Lawyers at Bykov Law Can Help
The purchase and sale of residential properties often represent the most financially significant transactions that an individual will be involved in throughout his or her lifetime. In fact, buying or selling a home is a major undertaking. A home is a person’s most valuable asset and it’s important that their lawyer treats it as such. Therefore, it is essential to work with an experienced Toronto Real Estate Lawyer who will ensure that your interests are protected at closing, and beyond.
While real estate transactions may seem routine, there are a number of pitfalls that can derail a closing if a lawyer fails to devote the proper care and attention to the matter. Some law firms treat residential real estate transactions with an assembly-line approach, which risks important details being missed. For example, details missed at the time of purchase can become significant problems when the property is later sold. Real estate lawyers at Bykov Law possess many years of experience and are skilled and committed to preventing these issues and providing their clients with a personal and customized approach and service.
Transactions involving properties such as cottages, farms, condominiums, and vacation properties involve special considerations and care. Our real estate lawyers possess the necessary expertise in the real estate area to navigate complex issues and ensure a smooth closing in the end. Our lawyers pride ourselves on providing individualized care and attention to each file from start to finish. Our focus is on protecting our clients’ interests leading up to, and beyond, the closing date.
Real estate lawyers at Bykov Law offer a full range of real estate services to individuals and commercial entities across the greater Toronto area. Bykov Law real estate lawyers work with clients to mitigate risk and maximize benefits in a range of real estate transactions, ranging from very simple to highly complex. They will provide assistance with document review and drafting, as well as with residential and commercial purchases, sales, and lease agreements. They have extensive experience working with vendors and purchasers, mortgage and insurance brokers, real estate agents, title insurance companies, and property owners seeking refinancing, inter-family title transfers, survivorship applications or estate-related transfers.
If you are considering buying real estate in Toronto, it is important to select a trusted and experienced real estate lawyer to protect your interests through closing. Bykov Law real estate lawyers proactively counsel their clients regarding potential issues and, where an issue becomes more serious, they work efficiently toward a resolution. Your Bykov Law real estate lawyers can provide the security you deserve when buying, selling, or refinancing a property.
Residential Real Estate Services and Toronto Real Estate Lawyer
Selling a home requires managing a number of steps and often occurs in conjunction with the purchase of a new property. Each transaction must be overseen carefully in order to ensure all of the steps are completed by the closing day. The real estate lawyers at Bykov Law personally review and handle every file. We pride ourselves on our meticulous attention to detail when it comes to transactional work. If you are selling your home, investment property, or vacant land, Bykov Law will ensure your residential real estate sale goes smoothly from start to finish. Our highly experienced residential real estate sales lawyers can assist you with the following:
Sale of Residential Properties and Condominium Units
- reviewing executed agreement of purchase and sale
- preparing the transfer of title or deed
- answering requisitions on title
- preparing and advising on the statement of adjustments
- advising on the applicability of HST legislation
- supplying copies of the declaration, by-laws, management contract, insurance trust agreement, and up-to-date insurance certificate (in case of condominiums)
- assisting with the execution of documentation
- attending the closing and completing the sale
Purchasing a home involves different elements or unique characteristics that may affect the steps taken leading up to closing. However, in order to ensure our clients are as prepared as possible, the lawyers at Bykov Law work hand-in-hand with insurance and mortgage brokers as well as real estate agents to give you a stress-free closing. Our highly experienced residential real estate purchase lawyers can assist you with the following:
Purchase of Residential Properties and Condominium Units
- reviewing the executed agreement of purchase and sale
- reviewing accompanying documents, including declaration, by-laws, management contract, insurance trust agreement, and all other condominium documentation (in case of condominiums)
- investigating title and checking the description, making requisitions on the title and on other matters discussed in the agreement
- searching for arrears of realty and all other taxes and rates constituting statutory liens
- advising on the applicability of HST legislation
- searching for executions
- reviewing transfer of title or deed
- reviewing the statement of adjustments and examining survey (if available)
- ordering title insurance
- making zoning and building by-law inquiries, searching for work orders, discussing with the purchaser all matters related to title, zoning, and statement of adjustments
- advising about common expenses and insurance coverage (in case of condominiums)
- advising clients with respect to road access, shore road allowance, septic issues, water potability, and well issues (in the case of rural properties and cottages)
- attending the execution of documents and the closing
Mortgage and Refinancing and Toronto Real Estate Lawyer
Individuals and business entities choose to mortgage or refinance the real property for a variety of reasons. They may be looking to secure funds for a renovation, pay off debts, or simply take advantage of a more beneficial interest rate. Bykov Law Toronto real estate lawyers will provide their individualized attention for any mortgage transaction they work on.
The Toronto real estate lawyers at Bykov Law work with individual and business clients to secure and process financing for commercial and residential properties. They will ensure that their client’s interests are protected throughout the process through meticulous document review and preparation. Having a real estate lawyer from Bykov Law review your mortgage documents helps you ensure that you have a thorough understanding of the terms and conditions of your mortgage. Our trusted and experienced real estate lawyers can assist you with the following:
- preparing charge with an extra copy for the charger and delivery to the charger
- investigating title
- searching for arrears of realty and other taxes constituting statutory liens
- searching for executions
- reviewing survey (if available)
- making zoning and building by-law inquiries and searching for work orders
- discussing with the chargee all matters related to the title
- reporting
- giving an opinion on the title and/or ordering title insurance
Bykov law real estate lawyers provide experienced representation on mortgage transactions with an emphasis on client service above all else. Their real estate lawyers personally attend to all matters themselves with meticulous attention to detail. They will assist with any residential or commercial mortgage refinance transaction, no matter how complex.
Private Mortgages
Despite their convenience, private mortgages may carry serious potential risks for both borrowers and lenders, and parties should not enter into a private mortgage without first retaining experienced legal counsel to review legal implications of the loan. The legal team at Bykov Law office has significant experience advising borrowers, lenders and their mortgage brokers about the risks associated with specific private mortgage loan transactions. Bykov Law real estate lawyers provide first-rate service and quick responses to each individual inquiry regarding private mortgage financing. Bykov Law real estate lawyers have the necessary knowledge and legal expertise to ensure that the mortgage financing and closing is completed smoothly and efficiently.
Transfer of Property Title
If you reside in Ontario, a title registration change lets you transfer ownership in a property, add someone to a property title or remove parties who no longer have property interests. You need a property title transfer when you:
- marry, separate, or divorce, and own joint property
- add parents or children (one or more) to a property title
- buy a shared home with friends
- invest with partners in commercial property
- add or remove mortgage loan guarantors when you refinance a home
- a legally married spouse or common-law partner dies and the home was held as joint tenants, leaving you with rights of survivorship as the legal property owner
Real Estate Transactions, Estate Planning & Family Law
For real estate transactions of any type, there are likely implications regarding your estate plan to be considered. Similarly, you may require special assistance in transferring property under a divorce settlement or as per the signed and executed separation agreement. The team at Bykov Law can assist with the execution of these or any additional documents. Bykov Law real estate lawyers will use a multidisciplinary approach by working closely with our family law team to provide an added advantage to our clients.
Review of Agreement of Purchase and Sale and Toronto Real Estate Lawyer
The team at Bykov Law has extensive experience in drafting, negotiating, and reviewing offers and agreements of purchase and sale. Bykov Law real estate lawyers stay up to date on the latest developments, laws, and regulations, and provide their clients with a solution that fits their individual needs. Bykov Law’s real estate law team is well versed in all aspects of real estate law in Ontario and has years of experience in this area.
Commercial Real Estate
At Bykov Law, we regularly act for clients purchasing and selling commercial real estate in Ontario. Whether you manage a single property or a portfolio, Bykov Law real estate lawyers have significant experience with commercial real estate transactions. Our clients benefit from our interdisciplinary approach, as working in tandem with our business law team, helps us ensure you have a full understanding of all issues that are unique to commercial real estate transactions.
In addition to complications regarding zoning and by-laws, environmental concerns, and the like, commercial real estate sales and purchases often involve larger capital outlays than residential transactions, so it is particularly important that all issues are properly addressed. Our commercial real estate lawyers also counsel both commercial tenants and property owners or landlords to ensure our client’s interests are protected in lease negotiations. Our trusted and experienced commercial real estate lawyers can assist you with the following:
Purchase of Commercial Real Estate
- reviewing executed agreement of purchase and sale
- investigating the title, making requisition on title, and on other matters stated in the agreement
- searching for arrears of realty and all other taxes and rates constituting statutory liens
- advising on the applicability of HST legislation
- searching for executions
- reviewing transfer
- preparation of one charge given back and/or personal property security agreement
- searching under the Personal Property Security Act for registrations
- reviewing all leases and/or tenancy agreements, service contracts, and employment contracts (if any) with respect to the property
- reviewing bill of sale (if any)
- reviewing the statement of adjustments and examining the survey (if available)
- making zoning and building by-law inquiries
- searching for work orders
- discussing with a purchaser all matters related to title, zoning, and statement of adjustments
- attending the execution of documents and the closing
- giving an opinion on title/ ordering title insurance
- inquiries with respect to compliance with Environmental Control Regulations
Sale of Commercial Real Estate
- reviewing executed agreement of purchase and sale
- preparing the transfer, bill of sale, assignment of lease, and/or tenancy agreement
- assignment of service contracts
- preparing statement of adjustments
- advising on the applicability of HST legislation
- answering requisitions on the title and on other matters stated in the agreement
- reviewing charge taken back and/or personal property security agreement (if any) and perfecting a security interest
- attending the closing and completing the sale
How the Toronto Real Estate Lawyers at Bykov Law Can Help
Whether you are refinancing, buying, or selling a residential home, condominium unit or commercial property, or you are involved in estate planning or family law matter where real estate transfer of title is involved, we can answer your questions and deal with any legal challenges as they arise. The team at Bykov Law will work closely with you to protect you from any future legal problems related to your property through careful investigation and examination of all aspects of your real estate transaction. At Bykov Law, we provide a comprehensive approach to the needs of our clients, helping them plan their real estate dealings to best meet their unique needs. Contact Bykov Law today to learn how we can best serve you.
