If your realtor is wise, they’ll include a subject in your contract stating the deal is subject to legal advice – this is where the fine counsel of Touchstone comes in.
One of the perks of having Touchstone assist you with your residential purchase is that our fee includes a full review of the Title Search of your proposed property before your subject removal. The Title Search is essentially the property’s legal history – it provides a snapshot of everything that affects ownership and use of the land.
Here’s what we look for in our review:
- Mortgages or liens registered against the property
- Judgments that must be cleared before the seller can transfer their ownership to you
- Easements/Rights of Way that may impact access to your lot
- Restrictive Covenants that may limit how your property can be used (e.g., roof materials, building height
- Building Schemes that could affect your dreamy renovations or future development.
In most cases, the title is straightforward. However, even standard charges should be explained so you fully understand what they mean and how they may affect your use of the property.
Early Bird Gets the Worm
Providing your contract and related documents to your lawyer as soon as possible offers several advantages:
- Clear guidance during subject removal: Buyers often have a limited window to remove subjects such as financing, inspection, or review of documents. Early legal input can help you make informed decisions during this critical period.
- Time to resolve issues: If the title reveals a problem—such as an old mortgage that was never discharged, your lawyer can begin working on a solution right away.
- Better coordination with lenders and realtors: Your lawyer plays a key role in communicating with your mortgage provider, realtor, and the seller’s legal team. Early involvement ensures everyone is aligned.
- Peace of mind: Buying a home is a major investment. Knowing that a legal professional has reviewed the property’s history and explained any encumbrances helps you move forward with confidence
This information is general in nature only. You should consult a lawyer before acting on any of this information. This information should not be considered as legal advice. To learn more about your legal needs, please contact our office at (250)448-2637.