Buying or selling a home is often described as one of the most important transactions in a person’s life. There are many specific steps that need to be followed from a legal standpoint to ensure the transaction completes successfully.
This blog post is intended to provide you with a better understanding of the legal steps required in buying and/or selling a house, townhouse, strata, or condo in British Columbia by breaking down some of the basics of conveyancing.
What Is Conveyancing?
Conveyancing is the legal process of buying and/or selling property – i.e., transferring ownership of real property (ex: a condo, strata, or a home) from one person to another.
When you buy or sell real estate in BC, it is important that you work closely with a real estate lawyer or notary so that they can guide and assist you through the conveyancing process.
Who Can Help You with a Conveyance for Your Property?
In BC, lawyers and notaries that practice in the area of Conveyancing can represent you in buying or selling properties and can ensure a legal title transfer.
They will receive all documents and instructions from real estate agents for both the buyer and the seller, mortgage broker, mortgage lender, and the other party’s lawyer/notary to ensure that your real estate transaction is as seamless as possible on the completion date.
Examples of legal administrative work and steps include:
- Property searches on the land registry provided by a local authority,
- Document preparation (ex: acknowledgements and statutory declarations),
- Exchange of documents,
- Meeting with the client for the signing of paperwork,
- Taking necessary action on the closing date, completion date, and possession date,
- Discharging any existing charges or encumbrances on the property,
- Registering transfer documents and mortgage on title, and
- Receiving and disbursing funds for the transaction (including payout of existing charges, mortgages, property transfer tax, strata fees, etc.).
It is important to note that your lawyer/notary will have different responsibilities in a conveyance depending on if you are the buyer or the seller.
If you would like to know more about the specific steps that each party needs to take in the conveyancing process, we have created a step-by-step guide on what to expect when buying or selling your home.
Why Choose Solimano Law?
The decision to sell or purchase a new property can be one of the biggest decisions you make. Having an experienced lawyer working with you to manage the process means you can have confidence that the transaction will complete successfully.
Solimano Law provides competitive rates for conveyancing legal services for both buyers and sellers in residential real estate transactions. Our team can assist you with:
- Purchase and sale transactions,
- Mortgages and refinance,
- Charges and discharges, and
- Other residential real estate matters.
If you have any questions regarding the conveyancing process or need to engage the services of a real estate lawyer, contact the Solimano Law team today.
Disclaimer – The information contained herein is of a general nature. It is not intended to be legal advice and it is not intended to address the exact circumstances of any particular individual or entity. No one should rely on or act upon such information without receiving appropriate professional advice and without a thorough examination of their particular situation. Please contact our office if you have any questions with respect to the content of this entry, this website, or our Terms and Conditions .