The Law Society of Upper Canada (Ontario) have changed the Rules concerning the way Lawyers advertise Fees for Residential Real Estate Transactions. Our office have always maintained complete transparency and congruence between the fees we advertise and our final account to the client. Our prices have not increased but the way the Law Society requires us to advertise our Fees gives that appearance. Please call our office for any additional information or clarifications you require.
FEES & DISBURSEMENTS – SALE
Services rendered in connection with acting on client(s) behalf as Vendor including perusal of the Offer, Preparation and verification of the Statement of Adjustments; Preparation and verification of undertakings, warranties and directions; Preparation and verification of Declaration of Possession; Attendances upon client(s) for the execution of all necessary documents; attending at the Registry Office and closing the transaction; receiving and disbursing funds; Reporting to client; and, including other incidental consultations, correspondence and telephone calls rendered in connection with this matter.
The Law Society of Upper Canada (Ontario) has changed the Rules concerning the way Lawyers advertise Fees for Residential Real Estate Transactions.
In order to advertise fees for Residential Real Estate transactions, Lawyers are now required to advertise Fees inclusive of overhead costs, staff costs, photocopy costs, facsimile costs, telephone and long-distance costs, Delivery costs, Travel costs, Courier costs, Bank fees, other search and closing costs, Third party charges, etc.
Although, this has the appearance of an “All Inclusive Price”, it is really not, as the client is still responsible for a clear majority of the Disbursements associated with a Real Estate Transaction including the additional costs of Harmonized Sales Tax (HST), Land Transfer Tax, Registration Fees, Fees charged by Government, Teranet Fees, Cost of Condominium Status Certificate, Payment for letters from creditor’s lawyers regarding similar name executions, Title Insurance Premium. In our opinion, this can only result in more confusion for the consumer-client.
We also believe that providing an “All-Inclusive” price as now required by the Law Society may be unfair to some, if not most of our clients, as it averages costs between clients rather than charging each respective client for what it actually costs them.
Since 1995, our office has always maintained complete transparency and congruence between the fees we advertise and our final account to the client. It is with deep regret, we have chosen, after 22 years, not to advertise our “Fees” on our website.
If you require more information or a Quote in connection with your particular Real Estate Transaction, please call or email our office. My Staff and I would be most happy to help you in this regard.
Fees do not include the additional costs of Harmonized Sales Tax (HST), Land Transfer Tax, Registration Fees, Fees charged by Government, Teranet Fees, Cost of Condominium Status Certificate, Payment for letters from creditor’s lawyers regarding similar name executions, Title Insurance Premium.
Fees includes the price for acting on the sale and on the discharge of the first mortgage. Payout of additional mortgages, debts, preparation and/or registration of other documents, any other services and/or services after closing may be an additional cost.
Please contact our office for additional information.
- Lawyers fees (Please Call For Quote) plus HST and Disbursements includes discharging one mortgage;
- $100.00 approx. for search fees and disbursements – Teranet Fees (if client does not have title documents)
- $75.27 to discharge (each) mortgage;
- $75.27 for each additional Registration;
- $40 for tax verbal NFalls (if client does not have current tax account):
- $22.60 for Water Compliance letter NFalls (if client does not have recent bill);
- $30.00 per courier Package;
- $40.00 Photocopy, Telephone, Long-Distance, Facsimile, Misc. Expenses;
- $20.00-$25.00 Conveyancing Program Charges
- $65 for LawPro Insurance levy;
- Costs to obtain Similar Name Execution Creditor’s Lawyer’s Clearance Letter (if required);
- Applicable HST.
Check with lawyer for other costs specific to your home.