If you’re about to jump into homeownership, it’s imperative to understand the key things to avoid doing when purchasing a home. Be sure you’re not making these three big mistakes that most first-time homebuyers often make and end up regretting afterward.
Skipping Out on the Home Inspection
With fierce competition in some Canadian markets, sellers want to settle fast. And in many situations, this often means skipping out on the home inspection as part of the conditions. But we must warn you that agreeing to purchase a property without having a professional inspect the house first, more often than not, results in more headaches and frustration down the road. The home inspection can reveal critical information about the condition of the home and what repairs it may need in the short and long term. If red flags come up during the inspection, like hazardous mould growth, illegal installations, unsafe materials, or severe damage that could cost a significant amount of money to repair, it gives the buyer a chance to back out of the deal. Without a home inspection, you could be left footing a hefty bill for repairs right after you purchase.
Going to a Lender Directly
One of the biggest mistakes people make is going to the lender directly instead of talking to a mortgage broker. If you’re considering going to the same lender that your family or friends have recommended – you could end up paying higher fees and entering into an agreement that favours the lender rather than yourself. If you want the best rates, you need to use a mortgage broker who has access to a range of lenders and their products. They’ll shop around for you to find the best rate and conditions based on your lifestyle, income and financial situation.
Relying Solely on Your Agent
Your agent may be a professional in real estate sales and negotiation, but they may not be experts at contract law. In fact, many agents only use a standard contract but rarely is that enough to cover all the clauses and special conditions. And all it takes is one mistake for the contract to be void or for a lengthy and costly legal situation to arise. That’s why it’s essential to hire a lawyer to review all your contracts before you sign on the dotted line. A lawyer can check the title of the property, search for any outstanding mortgages, liens or encumbrances that would impact the deal, ensure that all conditions are met, handle any last-minute disputes, and check that the clauses in your contract are in your best interests (not the sellers). In short, they’ll help you avoid any common problems that could arise and ensure you don’t have to deal with any legal situations that could cost you the home or your hard-earned money.
When purchasing a property, you can’t afford to have your rights put at risk. Our legal team at Accord Law will ensure that you get the protection and legal support you need when purchasing a home. Our team will also work with your budget – we never charge hidden fees or excessive costs – you’ll get honest and transparent service. Contact us today to set up a consultation!
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Terms and Conditions
Disclaimers
The materials provided on this site are for information purposes only. These materials constitute general information relating to areas of law familiar to our firm lawyers. They do NOT constitute legal advice or other professional advice and you may not rely on the contents of this website as such.
The contents of the website do not necessarily represent the opinions of Accord Law Professional Corporation or its clients. If you require legal advice, you should retain competent legal counsel to advise you. If you would like to retain Accord Law Professional Corporation, please contact one of our lawyers, who will be pleased to discuss whether our firm can assist you. A solicitor-client relationship will arise between you and our firm only if we specifically agree to act for you. Until we specifically agree to act for you on a matter, you should not provide us with any confidential information or material.
Confidentiality of Communications
Accord Law Professional Corporation does not guarantee the confidentiality of any communications sent by e-mail or through its website, or left in voicemail messages on firm telephones. Unsolicited information and material may not be treated as confidential and will not be protected by any solicitor-client privilege. Accessing or using this website does not create a solicitor-client relationship. Although the use of the web site may facilitate access to or communications with members of Accord Law Professional Corporation by e-mail or voicemail, receipt of any such communications or transmissions by any member of Accord Law Professional Corporation does not create a solicitor-client relationship, unless our firm agrees to represent you.
Although Accord Law Professional Corporation has made reasonable efforts to ensure that the materials contained on this site are accurate, it does not warrant or guarantee: the accuracy, currency or completeness of the materials; that the site will be available without interruption, error or omission; that defects will be corrected; or that the website and the server(s) that make it available are free from viruses or harmful components.
The website and the materials provided on the website are provided “as is” and “as available” without representations, warranties or conditions of any kind, either expressed or implied.
Liability
Accord Law Professional Corporation and its partners will have no liability for any damage arising from the misuse of any information provided on this website. The information provided on the website is not legal advice and should not be relied upon as such. Doing so without seeking the advice of legal counsel constitutes a misuse of the information.
Copyright and Trade Marks
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Accord Law™ is a trademark of Accord Law Professional Corporation. All other brand names, product names and trade marks are the property of their respective owners.
Linking to www.accordlaw.ca
Accord Law Professional Corporation acknowledges and appreciates links to the Accord Law Professional Corporation website. Links should go directly to the homepage at accordlaw.ca, or to the biography of one of the firm’s professionals. Linking directly to other pages within the site or framing content on the site is prohibited without the prior written consent of a representative of Accord Law Professional Corporation.
Links to Third Party Sites
The Accord Law Professional Corporation website has been designed to be a resource for information on matters that might be of interest to current or potential clients. As a result, there are links throughout the website to third party sites. These links are provided for convenience only, and do not mean that Accord Law Professional Corporation endorses or recommends the information contained in linked web sites, or guarantees its accuracy, timeliness or fitness for a particular purpose. Accord Law Professional Corporation takes no responsibility for the content or practices of third party sites.
Privacy Policy
Accord Law Professional Corporation is a firm that specializes in Real Estate, Immigration, and Business law with offices in Toronto, Ontario. The lawyer[s] and staff at Accord Law Professional Corporation (sometimes referred to as “we”) are committed to protecting your privacy. This Privacy Policy outlines how we handle your personal information to protect your privacy.
Privacy Legislation
Since January 1, 2004, all Canadian organizations engaged in commercial activities have been required to comply with the Personal Information Protection and Electronic Documents Act (“PIPEDA”) and the Canadian Standards Association Model Code for the Protection of Personal Information incorporated by reference into PIPEDA. These obligations extend to lawyers and law firms, including Accord Law Professional Corporation.
In addition, an Act respecting the Protection of Personal Information in the Private Sector has been in force in Quebec since 1994 and sets out rules regarding the collection, use and disclosure of personal information within that province.
Lastly, as a professional services firm, we have professional and ethical obligations to keep confidential the information we receive in the context of a lawyer-client and agent-client relationship.
Personal Information
Personal information is defined in PIPEDA as information about an identifiable individual, but does not include the name, title or business address or telephone number of an employee of an organization. In other words, it does not include the information that one expects to find on a business card.
Consent to Our Collection of Personal Information
In most cases, we obtain your consent to collect, use and disclose your personal information. Usually, if you retain our firm, we assume that we have your implied consent to our collection and use of your personal information, however, at times we may ask for your express consent, either verbally or in writing. Generally, we collect your personal information directly from you at the start of or during the course of your retainer with our firm. Sometimes we may obtain information about you from other sources such as a government registry or other professionals who serve you.
Use of Personal Information at Accord Law Professional Corporation
We use your personal information to provide legal advice and services to you, to issue invoices and to maintain our database of clients. In addition, if you apply for a position with Accord Law Professional Corporation, we will use your personal information to assess your candidacy. Lastly, we may use your contact information (name, e-mail and postal address) so that we may communicate with you about recent developments in the law, keep you abreast of Accord Law Professional Corporation news and invite you to our firm events.
Withdrawal of Consent
You may withdraw your consent to our collection, use and disclosure of your personal information at any time, subject to legal and/or contractual restrictions and upon reasonable notice. Your withdrawal of consent to our collection, use and disclosure of your personal information may impact our ability to represent you and provide you with legal advice.
You can ask us not to send you marketing communications by following the opt-out instructions in each communication or you may let us know by contacting us at info@accordlaw.ca.
Disclosure of Personal Information
Generally, we do not disclose your personal information to third parties without your consent unless permitted or required by applicable laws or court orders. The following are some examples where we may disclose your personal information: such disclosure is necessary to collect fees or disbursements; we contract with a third party to provide us with certain services such as archival file storage or insurance. (In such cases, we will use contractual or other means to ensure the third party service provider is bound by obligations regarding privacy which are consistent with this policy); or we engage expert witnesses or other law firms on your behalf.
Accuracy of Your Information
It is important that the information that we have on file be accurate and up-to-date. If, during the course of the retainer, any of your information changes, please inform us so that we can make any necessary changes. We may also ask you from time to time whether your personal information is up-to-date.
Safeguards
Accord Law Professional Corporation uses various safeguards to ensure that your personal information is protected against loss, theft, misuse, unauthorized access, disclosure, copying or alteration. These include: security of our physical premises; our professional obligations; security software and firewalls to prevent unauthorized computer access or “hacking”; and internal passwords that restrict access to our electronic files.
Access to your Personal Information
You have a right to challenge the accuracy and completeness of your personal information and to have it amended, as appropriate. You also have a right to request access to your personal information and receive an accounting of how that information has been used and disclosed, subject to certain exceptions prescribed by law. For example, if the requested information would reveal personal information about another individual, your request for access may be limited or denied. If your request for access is denied, Accord Law Professional Corporation will notify you in writing of the reason for the denial.
To request access or to amend your personal information, please contact the lawyer with whom you normally correspond or write to our Privacy Contact at the address below. Accord Law Professional Corporation will respond within thirty (30) days of receipt of your written request.
Challenging Compliance
Accord Law Professional Corporation will respond to inquiries about its policies and practices relating to its handling of your personal information. Inquiries should be directed to Accord Law Professional Corporation’s Privacy Contact using the contact information below. Accord Law Professional Corporation will investigate all complaints and will respond within 30 days of receipt of a written inquiry. If the complaint is found to be justified, Accord Law Professional Corporation will take appropriate measures to resolve it, including, if necessary, amending this Policy and its procedures.
Website Privacy
Like most other commercial websites, we may monitor traffic patterns, site usage and related site information to optimize your visit to our website.
We do not use cookies or any electronic means to collect personal information from you or your computer; however, our website server will automatically collect IP addresses. We may view the IP log from time to time, for example, to maintain the security of our website. We do not link the IP addresses to other personally identifiable information.
Privacy Contacts
If you have any questions or complaints about this Policy or the handling of your personal information, if you wish to withdraw your consent to our use of your personal information, or to request access to or update any information we have on file, please contact the lawyer with whom you are dealing, or contact:
Commission d’accès à l’information du Québec
480 St. Laurent
Suite 501
Montreal, Quebec
H2Y 3Y7
Telephone: 514.873.4196
Toll Free: 1.888.528.7741
Changes to this Privacy Policy
We may change this Privacy Policy from time to time. Any changes will be posted on our website at accordlaw.ca and will be made available upon request through your contact at Accord Law Professional Corporation. Please check from time to time to ensure you are aware of our current policy.