Some individuals think hiring a lawyer is an unnecessary step in a real estate transaction. However, it is necessary to have a real estate lawyer complete your transaction in Alberta.
Finding a lawyer is not that hard. However, it does not mean that you have to go for a cheap real estate lawyer in Edmonton. You have to make sure that the services they offer fit your needs. See this article to understand what you can expect in working with a real estate lawyer.
Understanding The Fees
Hiring a real estate lawyer has many advantages. If you find the right one, you can expect a smooth transaction.
The cost of services may vary depending on the lawyer. However, a cheap real estate lawyer in Edmonton may not necessarily be the best option. Your lawyer will work hand-in-hand with you. Thus, you have to ensure the quality of their work.
To help you understand what working with a lawyer requires, you need to know what fees are included. Generally, there are three components of fees for real estate lawyers in Edmonton.
- Legal fees – This fee refers to what your lawyer earns for providing a service to a client. In real estate transactions, it includes reviewing and drafting documents. It also includes the explanation of things, signing of documents with the client, communicating with the lawyer of the other party, as well as with realtors and mortgage lenders.
- Tax – Alberta requires the payment of goods and services tax (GST). If you want to have an idea of how much it is, you can try out the GST calculator for the province.
- Disbursements – The lawyer will have to pay for some things on behalf of the client. These fall under the disbursements. For real estate transactions, it may include the registration fees with the Land Titles Office. It may also refer to real property reports, encroachment agreements, additional titles, title insurance, courier charges, and other related transactions.
As a client, you can request a quotation from a law office. However, there are instances when one gets surprised when they see the final cost. If you want transparency, the best move is to hire someone that offers flat-rate pricing. This way, you do not have to worry about unknown charges. You can expect total fees to start at $1000.00. At Giardino Law, we offer flat rate pricing. Please call us today for a quote.