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By LegalMatters Staff • There can be many decisions to be made when purchasing or selling a home and one of the first should be to hire an experienced real estate lawyer.
If you are a homeowner, you are the one who decides when to put your house on the market. You are ultimately responsible for setting a price. If you are buying, there will be choices such as where to live and the type of dwelling you want, based on your lifestyle and budget.
However, while you dictate the process, buying or selling a home really is a team effort, says Edmonton real estate lawyer Sean Schaefer.
He says the process typically starts with contacting a real estate agent who lists a home, oversees the staging, schedules showings and negotiates a deal. An agent can also help you find your first home or your next one, says Schaefer.
There will be other professionals involved, such as a home inspector who examines the property to identify any deficiencies, he says.
“If you are like the majority of people buying a home, you will need to meet with a mortgage specialist to arrange financing. They will seek advice from a home appraiser to confirm the price you are paying for the property represents its true value,” says Schaefer. “And if you are getting a mortgage, you will be required by the lender to consult with an insurance broker to register a policy prior to possession.
“You will also need a real estate lawyer who can assist you in navigating what can sometimes be a complex home-buying or selling process,” he adds. Schaefer says while many people enlist the help of a lawyer once a deal has been negotiated it can be to your advantage to seek advice early in the process.
“Remember, once you sign an agreement in Alberta you are deemed to have read and understood it and it can be difficult to make changes, or include potentially significant financial consequences,” he says. “Buying or selling a home is like no other transaction you will make and it is in your best interest to have a knowledgeable and experienced law firm on your side.”
