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The Advantage Of Having A Real Estate Lawyer In Private Sale

A private sale is a method in which there is no involvement of brokers, advertisements, agents, etc. and the process is completely between a buyer and a seller. It has many advantages like reducing the cost of advertisements and hiring people. Further, private sale means that the sale price is clear and non-negotiable to both the parties. Many people who are interested in private sale believe that real estate lawyers in Oshawa are not needed for the transaction. It may be true in some cases, but most of the times the presence of a lawyer is really important as they can help in the following.

Saving money

It is true that one has to hire a lawyer and pay money to avail the services. However, it is also true that the services provided by a lawyer cannot be valued based on money. A lawyer can help with taking care of the undisclosed problems that are with the transaction. Further, all the aspects related to the property, buying and selling are covered so that there would be no need to spend a single dollar in the future related to the legality of the property. Therefore, contact Thomas & Efraim to hire the best real estate lawyer in the region.

Tax Liabilities

Tax liability is closely associated with the selling of a property. Most sellers do not realize how it can affect the tax payments and how to pay the associated fee. These could lead to some problems with the Tax Department. Hiring a lawyer from real estate law firm Oshawa will help the client to get clarification about tax liability. Further, the lawyer can help in creating a budget based on the financial benefits added from the sale of the property.

Covering the details

Has the change of title been informed to the local authorities to update in their records? Has the contract between the two parties been legalized? Are there some details that are missing from the contract? All of such inappropriate happenings can be quite problematic in the long run. From reviewing to the paperwork to updating the information with the records, real estate lawyers in Oshawa help in taking care of every minute detail that counts. If such details are not taken care of, they will come back to the buyer or seller in a haunting manner where there is a chance of paying penalties or losing the property.

Contingencies

The problem about a private sale is that it does not follow the traditional sale rules. Therefore, the buyer may not show up on the day of sale and all the preparations would go in waste. A real estate lawyer would ensure that there are pre-arrangements that ensure the presence of the seller. If such arrangements are broken, the party has to pay for the absence or the advance given by them will not be returned. There are many contingencies like this that a lawyer can take care of and this helps a smooth private sale.

As one can observe, private sale does not mean that everything shall go without any glitches. There are many legal problems that could arise; so, go to a well-known real estate law firm Oshawa and hire a real estate lawyer for a perfect private sale.

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