Residential & Commercial Real Estate
MHR Law’s Real Estate Group handles a wide variety of residential, commercial, and agricultural Real Estate transactions in an efficient professional manner. We provide services in all areas of real estate.
Residential Real Estate includes the refinancing or buying and selling of Houses, Duplexes, Town Houses, Condos, and Small Acreages.
Buying & Selling
The OFFER: Residential Real Estate begins with the signing of a Real Estate Purchase Contract often referred to as the “Offer”. Usually the Offer is prepared and negotiated through the Realtors and then delivered to us as Lawyers to complete the transaction on the terms of the Offer.
- Review the Offer prior to signing to advise you of the legal obligations you are undertaking if you sign;
- If the Offer is signed but one of the conditions is a lawyer’s approval, we can review the Offer and advise you of the legal obligations you are agreeing to before the Offer becomes binding;
- If there are no Realtors and it is a private sale, we can work with you to prepare the Offer.
The CLOSING: Once any conditions of the Offer are waived, the next step is to close or complete the deal.
- If you are the Seller, we prepare all of the documents needed from the Seller to allow the property to be transferred at Land Titles to the Buyer and to make sure you receive the amount of sale proceeds you have contracted to get. We pay out any mortgages or other such encumbrances on the title. If required, we assist with any matters arising from the property not complying with Municipal rules, by-laws and regulations;
- If you are a Buyer, we prepare any forms needed for the Buyer such as Mortgage documents and ensure that you are receiving clear title, a compliant property, vacant possession and only paying the amount of the agreed purchase price.
Conditions are items placed in a real estate contract to ensure all parties to the contract are able to proceed with the contract. Common conditions include:
- Financing Condition: this condition allows the buyer to ensure they are approved by their lender for financing before being committed to purchasing the property
- Property Inspection: this condition allows the buyer to inspect the property to ensure there are no defects with the property prior to being committed to purchasing the property
- Sale of Buyer’s Home Condition: this condition allows the buyer time to find a buyer for their existing home before they are required to purchase the seller’s property.
The refinancing of a residential property occurs when you desire to increase the amount of your mortgage or you decided to switch lenders. MHR Law’s role in a refinance is to work with you and lender to ensure the mortgage documents are properly prepared and registered at Land Titles to ensure you receive you mortgage funds in a timely fashion.
MHR Law provides exceptional services in dealing with the sale of Farms and large Acreages, Office Buildings, Retail properties, and Warehouses. Many of our lawyers have farming or business backgrounds which enable us to understand and resolve the intricate difference in commercial and agricultural transactions.
The steps in the purchase or sale of commercial properties are very similar to those for residential properties and we can provide a wide range of services for these transactions.