I am thinking of buying a house, what should I be thinking about? Should I contact a lawyer?
Buying a new house is an important purchase, and may be the biggest purchase you ever make. There are several things you want to consider, including legal concerns and consequences. When you purchase a house in New Brunswick not only should you contact a lawyer for advice, you will need to contact a lawyer to make it official. Once you find a house that you would like to make an offer on, you present the seller with an offer to purchase. This offer is often drafted by your real estate agent, but if you are not working with a real estate agent your lawyer can draft it. The offer can either be firm, meaning that there are no conditions to your offer that the buyers or house are bound by, or conditional meaning that the purchase depends on certain conditions. Common conditions include the ability to secure financing, well-water testing, insurability and having the property inspected. If any of the conditions are not met the sale will not take place. You should also include in the offer what items (such as appliances) you want to remain with the property. Once all conditions have been met and there are no outstanding issues, your lawyer will prepare all of the documentation required to close. The closing date is the day that the buyer takes ownership of the property being bought. This is the day you are permitted to move into the purchased property. If you have any further questions or are planning on purchasing a property, contact one of our Mosher Chedore lawyers at (506) 634-1600.