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High-Quality Legal Advice For New Condominium Transactions

When you’re buying a brand-new condominium, or a converted condominium, you are often dealing with the developer’s sales agent instead of a Realtor. Without a Realtor guiding you through the condominium transaction, you can be left vulnerable to the developer’s demands.

At Diamond and Diamond, our lawyers have guided many buyers through their condominium transactions in Mississauga and surrounding areas. We protect your interests by reviewing your purchase agreement, advising you about problematic clauses in the agreement and making sure your closing proceeds smoothly.

We Review New Condominium Agreements For Free

Individuals are often unaware that they will not be able to use a realtor for new condo deals. As a result, they often lack guidance when it comes to reviewing and signing the purchase and sale agreement. What some clients also do not know is that there are additional closing costs the developer charges for items such as:

  • Development and educational levies
  • Deposit administration fees
  • Utility connection charges

Without consulting a lawyer to help ensure your interests are protected you may leave yourself vulnerable to higher closing costs.

Our lawyers provide you with a free review of new condominium purchase and sale agreements. We will also help you negotiate lower costs for the additional items. We will read the contract, identify clauses that are not in your best interests, and advise you accordingly.

Experienced Assistance For Real Estate Developers

Diamond and Diamond Lawyers has done considerable work for real estate developers for purchases and sales. Our legal team has written many purchase and sales agreements for developers. Backed by this experience of processing a large volume of agreements, we can expediently create agreements for them.

Our office has set up an infrastructure to be able to quickly and accurately write and process agreements. Backed by an experienced legal staff, our lawyers are at your service to write agreements and verify the accuracy of documentation on an ongoing basis. Our aim is to ensure that all necessary clauses to protect the developer’s interests are drafted into the agreement.

Contact Us Today To Review Your Agreement

Whether you are the buyer of a new condominium or a developer requiring the drafting or review of a purchase agreement, we can help. Call us today at 1-888-INFO-LAW.

FAQ

What does a real estate lawyer do at closing?

A real estate lawyer will be present with you at the closing of the transaction, but what’s more important is what they will do for you before the deal closes. Your lawyer will prepare and review all the documents to sign at closing. They will advise you and represent your interests. A real estate attorney can advise you on matters of deeds and property taxes. They can also guide you in matters of zoning, titles, and estate planning.

Can a buyer back out from an accepted offer?

Yes, there are several ways to back out of an offer, some easier than others. If you’ve made an offer contingent upon the sale of your current home, or upon getting approved for a loan, it’s much more manageable. These contingencies are time-bound, so if the conditions are not met within the timeframe, the deal is off. You’ll have put up earnest money when making the offer, and you don’t want to lose it if you are having second thoughts. This situation is where a competent real estate lawyer can help, ensuring you understand your financial and legal rights.

Do I need to hire a title researcher?

Not necessarily, but it certainly helps. Whether you’re buying or selling real estate, reliable title research is vital for making informed decisions. Title research can be conducted by real estate firms, legal firms, the general public, and specialized researchers. Dedicated title researchers often only market their services to businesses and firms. If you need help researching Toronto, Ontario, Hamilton or Ottawa property titles, contact our legal team for assistance.

When should I get a home inspector?

Home inspections are an essential tool in the arsenal of prospective homebuyers. They can identify a range of issues, risks, and code violations in your roofing, electrical, plumbing, HVAC, and other areas. A professional home inspection is an essential step in buying a property. The best moment to seek out a home inspector is when putting in your offer. You can add a contingency clause to give you the right to inspect the property before completing the transaction. It’s standard for many residential and commercial real estate deals.

Is it okay if I sublet the condo?

There are many situations where you might want to sublet your condo for a certain amount of time. It’s a very common real estate practice in cities like Ottawa, Toronto and London. It’s also increasing in popularity in places like Oshawa, Vaughan, Burlington or Woodbridge. Whether or not you can sublet your condo depends largely on the condominium rules. Condos have extensive rules and regulations, and some of them ban subletting outright. If you need assistance determining whether you can sublet your condo, contact our expert team for help.



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