Quote:
Originally Posted by Bonka
Lawyers absolutely provide extra value, provided you need them. It is transaction specific. With a majority of deals notaries are more than sufficient since they are simply registering and discharging mortgages, making sure the title is clear of charges before registering the buyer, reconciling property taxes and utilities and making sure seller receives funds but they can only register and sign off on legal documentation. If a deal has complex elements requiring legal advice. (ie: neighbouring property has a shed encroaching on the one you're buying) you'll want a lawyer. They will be very important between the time your offer has firmed up to closing.
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I'm searching for previously occupied condo. So it's a very 'basic' transaction - I'd presume anyways.
I heard that a lawyer will also review the financial position of the strata corporation and advise the buyer accordingly. Can this be expected of a notary?
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