RESOURCES

If you are reading this blog entry, then chances are that you have closed a real estate transaction in the past.  Or you might be in the middle of one right now! No matter which stage you are at, know that working with your real estate lawyer is no different than any other key relationship in your life.  The secret is communication!

As amazing as you feel that your real estate lawyer may be (and trust me, there are some fabulous ones — I see them daily in my office), most of them are not mind readers. So, if you have information/knowledge on your transaction that you do not share, how will your lawyer know? This is a topic that we discuss time and time again at my office. How we, as the real estate lawyers, are often the last to be told about details in our transactions.  Changes in closing dates.  Names of parties. Prices.  Deposits.  You name it. Every term in an agreement is open season — if the parties agree to amend them. But before you sign an amendment and change your deal — please pick up the phone for a call or send an email. Your real estate lawyer is happy to hear from you and rather than having your lawyer as the last point of contact — they will be your first!

There are so many advantages to keeping in communication with your real estate lawyer. Firstly, they can provide you valuable advice before making major decisions on your transaction. This can affect the outcome and very well save you time, money and give you piece of mind!

You will also lessen the chance of details being missed or neglected until the last minute — if you tell your real estate lawyer what is happening.  We can update our file for you and diarize key dates and information. Knowledge is power. The more you communicate and share information, the better equipped your real estate lawyer will be to work on your closing!

Communications can begin as early as when you think of purchasing/selling/mortgaging a property. Reach out to your real estate lawyer. Introduce yourself. Discuss the transaction you are contemplating. It will help guide you from the beginning to a smooth closing. We are here to help and look forward to hearing from you.

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Jonathan Hacohen is a Partner at Kormans LLP. His practice areas include Real Estate & Corporate Law, as well as Wills/Estates law. You can reach Jonathan at jhacohen@kormans.ca.

All blog entries are for your reading pleasure only and are not posted to provide legal advice. For your matter, we encourage you to consult with a lawyer to review and discuss your specific facts and circumstances.