Saskatoon Law KnowledgePURCHASE & SALE
Properties for purchase or sale may be new home construction, new condo construction, or existing properties, such as single family dwellings, townhomes, multiple unit properties, condominiums, cottage/recreational properties, etc. Properties may be purchased for personal use (to be used as one’s residence) or investment purposes (to be leased).
RE-SALE HOMES
When dealing with re-sale properties we are able to assist both buyers and sellers who choose to represent themselves through services such as Saskhomes.com or choose to work with licensed real estate agents. When an agent is involved in the transaction, the agent will typically draft the Offer to Purchase and make all the necessary amendments that occur as a result of negotiations. Our clients may request that we review the Agreement to ensure that specific clauses are included or deleted in order to protect their best interests.
When our clients choose to work without an agent, we will usually draft the Agreement of Purchase and
If you are the Seller, we will review the Agreement prepared by the Buyer's lawyer to ensure it meets your needs.
NEW HOMES
When buying from a builder, dealing with an Agreement drafted by the builder's lawyer, we will review the document in detail with you to ensure you are aware of and understand your various rights and obligations - and those of the builder.
MULTI-UNIT PROPERTIES
When purchasing a multiple unit property, there are issues of fire retrofit and electrical safety, which we will assist you with. This involves making enquiries with the Fire Services Department and the Electrical Safety Authority to determine whether or not the property complies with their requirements. Compliance will be required for mortgage/financing purposes and insurance purposes.
CONDOS
When purchasing a condominium unit, the agreement of purchase and sale will usually include a condition for the review of the schedule “C” documents which include an estoppel certificate, bylaws and regulations of the condo corporation, most recent financial statement of the condo corporation, budget, exclusive use agreements, insurance certificate, property management agreements and recreational agreements . We also review the condominium title and condominium plan. We will review these documents to ensure that the condominium's finances are in order and that there are no unexpected pending costs, such as a special assessments or factors leading to a substantial increase in condo fees. We will then discuss all of this information with you in detail, including what your insurance and repair obligations are with respect to the condominium unit.
COTTAGES & RECREATIONAL PROPERTIES
When purchasing a cottage/recreational property, in addition to the review of Agreement of Purchase and
Notice: The information on this website is of a general nature only and relates to Saskatchewan, Canada. The information may not be applicable in your jurisdiction. It does not constitute legal advice to you and no solicitor client relationship will be or is established. You should seek specific legal advice regarding your circumstances from a lawyer entitled to practise law in your jurisdiction.