Office Locations

CRANBROOK

201-907 BAKER STREET
CRANBROOK, BC
V1C 1A4

 

TEL: (250) 426-7211
FAX: (250) 426-6100

CRANBROOK@ROCKIESLAW.COM

 

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101S - 9TH AVENUE

CRANBROOK, BC
V1C 2M1

 

TEL: (250) 489-3334

FAX:(250) 489-0882
CRANBROOK@ROCKIESLAW.COM

 

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KIMBERLEY

201-290 WALLINGER AVENUE
KIMBERLEY, BC
V1A 1Z1

 

TEL: (250) 427-0111
FAX: (250) 427-0555

KIMBERLEY@ROCKIESLAW.COM

 

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SPARWOOD

BOX 1886, #116 101 RED CEDAR DRIVE
SPARWOOD, BC
V0B 2G0

 

TEL: (250) 425-2114
FAX: (250) 425-2204

SPARWOOD@ROCKIESLAW.COM

 

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CRESTON

124 11TH AVENUE NORTH

CRESTON, BC
V0B 1G0

 

TEL: (250) 428-9361
FAX: (250) 428-9991

CRESTON@ROCKIESLAW.COM

 

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FERNIE

202-502 THIRD AVENUE - BOX 490
FERNIE, BC
V0B 1M0

 

TEL: (250) 423-4446
FAX: (250) 423-4065

FERNIE@ROCKIESLAW.COM

 

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INVERMERE

BOX 2647-906 8TH AVENUE
INVERMERE, BC
V0A 1K0

 

TEL: (250) 342-4447
FAX: (250) 342-3298

INVERMERE@ROCKIESLAW.COM

 

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Why you need a lawyer when you buy or sell a house?

September 6, 2016

Buying a home will probably be the largest and most significant purchase you will make in your life. It also involves the law of real property, which is unique and raises special issues of practice, and problems not present in other transactions. A real estate lawyer is trained to deal with these problems and has the most experience to deal with them. Some states certify lawyers as "Real Property Specialists" as a result.

 

In the typical home purchase, the seller enters into a brokerage contract with a real estate agent, usually in writing. When the broker finds a potential buyer, negotiations are conducted through the broker, who most often acts as an intermediary. Once an informal agreement is reached, buyer and seller enter into a formal written contract for the sale, the purchase agreement. The buyer then obtains a commitment for financing. Title is searched to satisfy the lender and the buyer. Finally, the property is transferred from the seller to the buyer, and the seller receives the purchase price bargained for in the contract. This seems simple, but without a lawyer, the consequences may be more disastrous than purchasing a car that turns out to be a lemon, or a stock investment that was unwise.

 

A lawyer can help you avoid some common problems with a home purchase or sale. For example, a seller may sign a brokerage agreement that does not deal with a number of legal problems. This happens quite often; realtors often use standard forms, expecting that they will cover all circumstances or will be easily customizable for unusual circumstances.

 

 

 

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