In Toronto there has been an established max tariff that a lawyer can charge to transact a real estate deal. This tariff was established by The Law Society of Ontario and is set at such a level that most lawyers charge much lower than this amount. It is important when selecting your lawyer not to pick the lowest price, there are other areas that you should look to save money, not on your lawyer.

A lawyer provides many different functions, some of which include the following:

Before the offer is signed: 1. Prior to signing the offer you lawyer will review conditions of the deal and advise you as to their legal impact.

After agreement is accepted: 1. Outline all of your exact closing costs 2. Search title 3. Search taxes, utilities, building and zoning 4. Mortgage and other financing arrangements 5. Confirm insurance documentation 6. Write any letters to the vendor to resolve any problems

Before closing: 1. Deal with Provincial sales tax 2. Prep mortgage documentation 3. Deal with statement of adjustments 4. Prep for land registry 5. Accept closing funds 6. Outline everything that is to be signed

On close: 1. Exchange mortgage documentation for money 2. Meet with vendor’s lawyer at registry office 3. Complete final title search 4. Transfer money 5. Register deed and mortgage in buyers name 6. Pay land transfer tax 7. Get keys

After close: 1. Send you all of the documents 2. Send you a invoice