Home Buyers Need A Good Team On Their Side When Purchasing A Home In Toronto

Emily and Steven were outgrowing their condo near Mount Pleasant and Eglinton and looking to purchase a house.

David Stoddard, one of the buyer specialists on our Team received a call from Emily looking for some real estate counsel and advice. David suggested that the best way to start would be to personally meet with him for a 90-minute buyer consultation at our Team office so he could better learn about their personal situation.

The clients we work with really enjoy learning about the home buying process and having a foundation for their home search which ultimately saves them a lot of time and effort.

With a Wish List of “would likes” and “must haves” determined for their new home, a price range set, a few favourite neighbourhoods selected and some MLS listings in hand they were off .

As the weeks progressed one home stood out from the showings . It was a gorgeous new home that a builder had designed and built in west Toronto . It had all the characteristics that Emily and Steven were looking for.

An offer was presented and a price and the terms were agreed upon. Now the fun began.

Two days before closing it was determined through the title search that there were liens against the registered owner of the property. Upon further investigation it was found that the Seller’s original lawyer had registered the wrong name on title when the seller had purchased the property. The seller’s lawyer was now unavailable to fix the problem.

To make matters worse the person who should have been on title was out of the country on holiday. So not only did the seller not have a lawyer to fix the problem the real registered owner of the property was unavailable to prove in person that the person currently registered on title was not him. Wow! What a mess!

To say the least both Emily and Steven were feeling the stress ( big time!) and they were quite sure they were going to lose the house. The good news for both of them was that they were using a Team lawyer who had many years of experience . The closing was going to be delayed nevertheless.

The real registered owner of the property had to fly back to Canada and present himself to a lawyer to swear that he was not the actual person registered on title. Then the seller had to find a new lawyer with experience in this type of title mess to clear the title to the property. The clock was ticking.

The house finally closed one week late. A buyer credit for the delay was negotiated with the seller and Emily and Steven could now move into their dream home. The moral of this story is to NOT hire a real estate lawyer without experience just to save a few bucks.

The same goes with a home inspector or a mortgage specialist. Anything can happen along the way to your closing day and it is the experience of your Agent and your service providers that is going to guide you through any turbulence.

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