Real Estate
We provide the help you need when buying, selling or refinancing a home.
LEGAL FEES
Our Fees
The full cost of retaining us to represent you in your real estate transaction is based on two factors - our flat rate fee for our actual services, and the cost of disbursements related to your transaction. We charge disbursements separately, as each transaction is unique and we want you to feel confident that you know exactly what you're paying for when using our services. We are upfront about the disbursements, and we will never charge you hidden fees.
Purchase with Mortgage: $850 + GST and disbursements
Purchase - no Mortgage: $700 + GST and disbursements
Refinance: $750 + GST and disbursements
Sale: $650 + GST and disbursements
* If you are doing multiple transactions (for example, selling one home and purchasing another), please contact us and we will be happy to discuss a discount.
Disbursements
These are "extra expenses", such as title searches, property tax searches, Land Titles registration fees, courier expenses (if applicable), and the cost of an Estoppel Certificate if the property is a condominium. Some mortgage lenders have additional requirements, but we will always discuss this with you so that you are aware of your anticipated costs.
When you purchase a home, you must submit a Transfer of Land to Land Titles, which will register your ownership to the property. The fee that Land Titles charges to register your Transfer of Land is based on your purchase price. Similarly, if you obtain a mortgage to purchase your home, the terms of your Mortgage will be registered onto the Title of your property. The fee that Land Titles charges to register the Mortgage is based on the amount of your mortgage.
When selling your home, the required disbursements are much less, and typically only include the fee to Discharge your mortgage from Title, in addition to the necessary tax and title searches. However, if you are selling a condominium, we must obtain an Estoppel Certificate, the cost of which depends on the company that manages your condominium.
Contact us with the details of your transaction, and we would be happy to provide you with an estimate of the total cost.
FREQUENTLY ASKED QUESTIONS
1. What are Dower Rights?
Dower rights protect the spouse of a registered owner of real property. The Dower Act requires the spouse who is not on title to consent to any disposition of land. A disposition of land usually comes up as the sale or mortgaging of the property. There are more situations that also tie in these rights.
Under the Dower Act, a disposition which is an act inter vivos includes:
- a transfer, agreement for sale, lease for more than 3 years or any other instrument intended to convey or transfer an interest in land;
- a mortgage or encumbrance intended to charge land with the payment of a sum of money, and required to be executed by the owner of the land mortgaged or encumbered;
- a devise or other disposition made by will; and
- a mortgage by deposit of certificate of title or other mortgage that does not require the execution of a document.
2. What are the different types of land?
- Foreign Ownership of Land
Alberta's rich soil and picturesque recreation areas are some of the province's most valuable resources. To ensure that these resources continue to be owned and enjoyed by Albertans and other Canadians, the Agricultural and Recreational Land Ownership Act and Foreign Ownership of Land Regulations were passed. The regulations ensure private (controlled) land continues to exist primarily for Canadian citizens/corporations and permanent residents.
A disposition of a controlled lands requires completion of Form A-1 http://servicealberta.ca/pdf/ltmanual/FOREIGN_OWNERSHIP_FORM_1.pdf
- Fee simple ownership
- Condominiums
- Bareland Condominiums
- Crown Land (Land held by the province or federal government)
2. What are the different types of ownership?
- Freehold ownership: Absolute ownership of the property and land on which it stands.
- Leasehold ownership: Ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
- Life estate ownership: Ownership of land for the duration of a person's life. In legal terms, it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person. The owner of a life estate is called a "life tenant".
3. How can title be held?
Title can be held as either:
- Joint Tenants: Joint tenancy is a special form of ownership by two or more persons of the same property. Joint tenants share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship.
- Tenants in Common: Share a specified proportion of ownership rights in real property and upon the death of a tenant in common, that share is transferred to the estate of the deceased tenant.
DISCLAIMER
Please note that none of the information on this website should be construed as being legal advice or the law. These pages contain material that is meant only for informational purposes.