Buyer Closing Costs

Many people are concerned about their closing costs as they often hear of unwelcome surprises when they are asked to deliver funds to their lawyer’s officer.
Your closing costs generally consist of the purchase price, GST, if any, Property Transfer Taxes, legal fees and any applicable adjustments (of property taxes (and credits), strata fees, rent, deposits, and the like) LESS your mortgage monies and deposit. The difference between the two is what we will require you to bring into our office before closing to complete the transaction.

Buying Your Home

On the purchase of a resale home, the standard agreements used are familiar to most agents and are drafted to balance the interests of the buyers and sellers. Most buyers and sellers do not have this agreement reviewed by their lawyer before signing, although this is always an option.
I would recommend that if the title to the property you are looking to buy has a number of covenants, easements, and you are unsure what it all means that you contact my office to review title prior to signing your contract.

Legal Fees

We have set or fixed rates that are comparable to local Kamloops law firms and notary offices. Please feel free to call us or email info@denhamlawoffice.com for a quote.

Homeowner New Builds & Developer New Builds

When you buy a home the first step is usually to sign an Agreement of Purchase and Sale. This Agreement outlines each person’s rights and obligations and sets out what must happen before final closing. It is generally a good idea to have the Agreement reviewed by a lawyer before you sign the Agreement. This will help prevent you from agreeing to something that is not in your interests. It is also especially important when buying a new home from a builder because of the numerous and lengthy provisions in the agreement, including those relating to extra charges and changes to the closing date.
When you bring your new home purchase Agreement to me, I will review it and advise you of provisions and how they will affect your purchase. I will also very often recommend changes to be incorporated into the agreement to better protect your interests. The new home agreements are lengthy and contain many provisions which may be contrary to your interest. This is your opportunity to know what you are agreeing to and to avoid agreeing to something you did not bargain for. I highly recommend that you have all builder’s agreements reviewed by a real estate lawyer in Kamloops before signing a legally binding Agreement.
There are many title lawyers in Kamloops and while they can all technically process your transaction, Lisa Denham Law Office processes many real estate transactions in Kamloops and has a reputation for being personable and getting the job done right, the first time for her clients.

Property Transfer Tax

Property Transfer Tax is payable by all purchasers of homes in BC unless they are (a) first time buyers and (b) buying the property for their own personal use. If you are not a first time home buyer, Property Transfer Tax is payable at a rate that increases with the price of the home. This will generally amount to 1-2% of the purchase price.

Title Insurance

One of the most comprehensive methods your lawyer can use to obtain is through Title Insurance. Title insurance is a mandatory insurance by virtually all lenders and at Lisa Denham Law you will receive a buyer’s policy free of cost. This is not typical in the industry and just one of the many reasons why Lisa Denham is a professional title lawyer in Kamloops, BC.

For more information on title insurance please click here