Should You Hire a BC Real Estate Lawyer or a Notary for Your Real Estate Purchase?
A lot of people think BC real estate lawyers are more expensive than notaries. However, that is not the case. A simple property transaction led by a lawyer will cost you about the same as a notary. The price difference comes into effect when there is a problem with your transaction. In that case, you will pay for legal fees to the lawyer who represents you in court. One of the main differences between a lawyer and a notary is that notaries cannot represent you in court. Even if you hire a notary for your real estate transaction, in the case of a dispute, your notary will refer you to an experienced lawyer. Winright Law also offers you a free initial assesment for any of your real estate related services.
In order to understand if you need a real estate lawyer or a notary for your real estate purchase, we first need to determine what conveyancing is.
Conveyancing is a legal process where the ownership of property is transferred from one party to another. The conveyancing process includes preparing legal documents and making sure all documents are legally binding and signed by both parties. Conveyancing is what makes your real estate purchase legitimate.
Understanding the Roles of BC Real Estate Lawyer vs Notary
Both real estate lawyers and notaries can assist in your real estate transactions in BC. However, real estate lawyers have wider legal authority and can give you legal advice. Notaries, on the other hand, have the authority to draft and certify legal documents, as well as real estate lawyers, but cannot give legal advice. If you are a first-time home buyer (FTHB) or have a complex transaction, we’d recommend hiring a real estate attorney in Vancouver to handle your transaction to prevent mistakes and to give yourself peace of mind.
Legal Services Offered by a Real Estate Lawyer
Title Searches and Legal Due Diligence
Lawyers conduct due diligence for the property to verify ownership and identify potential issues before closing.
A title search is an important step in your transaction. It reveals the legal ownership of the property and identifies mortgages, outstanding liens, and any other charges against the title.
Contract Review and Legal Advice
Contracts are crucial in real estate transactions in BC. A real estate lawyer can review the contract of purchase and sale (CPS) and make sure it contains all legal requirements and identify any potential risks
Handling Legal Disputes and Complex Transactions
Incase of a dispute in your transaction, such as contract breaches, title issues, or any disagreements between the parties, a BC real estate lawyer can represent you in court or give you legal advice.
This is crucial when it comes to complex real estate transactions. Unlike notaries, BC lawyers are authorized to handle litigation and resolve disputes, making them a better choice in complex real estate transactions.
Cost Comparison: Real Estate Lawyer vs. Notary Fees in BC
Typical Lawyer Fees in BC When You are Buying or Selling a House
In British Columbia (BC), legal fees for purchasing a house typically range from $800 to $1,300, depending on the complexity of the transaction.
We understand that legal fees can be a concern, which is why we offer transparent real estate lawyer fees in BC. Our team also handles conveyancing, with competitive conveyancing fees in BC that fit your budget. As trusted BC real estate lawyers, we are committed to delivering exceptional service and peace of mind in all your real estate matters.
If you’re dealing with commercial properties, our commercial real estate lawyers in Vancouver are here to help with leases, purchases, sales, and more. Trust Winright Law to provide the legal support you need, backed by years of experience and a deep understanding of BC’s real estate laws.
Typical Notary Fees in BC
In British Columbia (BC), notaryl fees for purchasing a house typically range from $700 to $1,500, depending on the complexity of the transaction.
Factors That Affect the Cost
You should always keep in mind that the final closing cost will be determined by the complexity of your transaction.
The main factors that might affect the cost are as follows:
- Price of the property
- Mortgage involvement
- Type of transaction: Whether it’s a purchase, sale, refinance or transfer.
- Timeline: It is recommended that you find a real estate lawyer at least 2 weeks before closing. If your lawyer/notary don’t have enough time to prepare your documents, they might charge rush fees.
- If you require an out-of-office signing: If you can’t physically meet them, your real estate lawyer might charge for the out of office signing in order to cover for the extra work they need in order to sign electronically.
Ready to hire a real estate lawyer for your next transaction?
Whether you’re buying, selling, or investing in Vancouver real estate, having the right legal support can make all the difference. At Winright Law, our experienced real estate lawyers in Vancouver provide professional guidance at every stage of the process. Whether you’re purchasing a condo, selling a townhouse, or navigating complex property transactions, our team is here to ensure a smooth and stress-free experience.
Our award-winning real estate law firm in Vancouver offers conveyancing services for homebuyers and sellers, ensuring that all legal aspects of your transaction are handled efficiently. Our conveyancers in BC work closely with clients to oversee every detail, from contract reviews to title transfers. Whether you’re looking for lawyers for closing, lawyers for a house sale, or lawyers for a house purchase, we provide expert legal services tailored to your needs.
No matter where you are in the real estate market, whether you’re a first-time homebuyer, a seasoned investor, or selling your property, Winright Law is committed to protecting your interests.
