MAUTI Law Office

RESIDENTIAL PURCHASES AND SALES

NO LEGAL DISBURSEMENTS

$1,800.00 or 0.30% (plus taxes)

 

The rules for residential real estate fees have changed. While other firms will offer a fee that has some included legal disbursements (like photocopies), many expenses still can and will be charged (registration fees, government fees, Teranet fees, title insurance costs, and so on).

 

MAUTI Law Office simplifies matters and, for a standard residential transaction, charges a legal fee that includes all legal disbursements. You only pay HST, and for a purchase, the Land Transfer Taxes and the Non-Resident Speculation Tax as applicable in addition to the legal fee. No other legal disbursements in a standard transaction.

 

The legal fee is based on the purchase/sale price of your property (just like how real estate agents do it), being:

• $1,800.00 if the purchase/sale price is under $600,000.00

• 0.30% of the purchase/sale price if $600,000.00 or higher

 

If you are a purchaser, the legal fee includes:

• Explaining the terms of your purchase agreement
• Reviewing documents that relate to your title and mortgage
• Arranging title insurance
• Attending to your final closing and addressing your questions
• Making sure that you possess valid ownership documentation
• Preparing one institutional mortgage on the property you are buying as part of the fee

 

If you are a vendor, the legal fee includes:

• Explaining the terms of your sale agreement
• Preparing documents to finalize your sale
• Successfully closing your deal and getting you your money
• Preparing one payout/discharge of an existing mortgage or debt ​as part of the fee

 

MAUTI Law Office's simple legal fees allow you to calculate and budget your legal costs with precision. In a standard transaction, you only the pay above amounts. Nothing more. 

 

RESIDENTIAL MORTGAGES

NO LEGAL DISBURSEMENTS

$1,500.00 * (plus HST)

If you are refinancing a residential mortgage, MAUTI Law Office also offers a legal fee that includes all legal disbursements. You only pay HST in addition to the legal fee and no other legal disbursements in a standard transaction when the mortgage amount is up to $800,000.00.

This legal fee includes:

• Reviewing the new mortgage documentation and explaining the various provisions
• Searching title and executions to make sure they are clear
• Contacting your old lender to payout your old mortgage
• Arranging title insurance for your new lender
• Coordinating with your new lender to obtain your new mortgage funds as quickly as possible
• Preparing one payout/discharge of an existing mortgage or debt as part of the fee

* If your new lender is HOME TRUST COMPANY or any affiliate that runs through Home Trust Company, the legal fee will be $1,750.00 plus HST due to increased costs in dealing with this lender.

If your mortgage amount is above $800,000.00, then you will also pay any additional amount for title insurance above $300.00. (Title insurance prices rise with the amount of the mortgage. MAUTI Law Office will provide a quote of the total title insurance fee on request.)

  

Additional Services

Should your real estate needs go beyond the standard, MAUTI Law Office is fully equipped to assist you in an array of property-related legal matters in addition to the above, many of which are also based on fixed fees, including:

• Agreement of purchase and sale review and negotiation
• Condominium status certificate reviews
• Private mortgage negotiation and document preparation
• Bridge financing document preparation and payout
• Vendor take back mortgage negotiation and document preparation
• Interim occupancy closings
• Existing owner title insurance
• Survivorship applications
• Title transfers
• Private agreement of purchase and sale document preparation
• Commercial real estate purchases, sales, and mortgages

 

Contact us today to learn more.