Working with a real estate lawyer is critically important when you are closing a real estate transaction. Your lawyer can help you with a number of important items from helping you draft or understand the legalities of the sale contract, conducting title searches for you, and ensuring that the funds from the transaction are transferred in the correct manner.
But what does all this mean during the COVID-19 pandemic?
Buying and Selling Real Estate During COVID
The real estate market really has not slowed down at all over the last two years. Although there was a temporary cooling of the market earlier on in the pandemic as buyers and sellers stepped back to evaluate the situation, the market soon heated up again. Real estate agents began showing homes again and real estate lawyers were there to assist to ensure that the rights of their clients were protected during the buying and selling process.
Prior to the pandemic, many of these activities were conducted in person. But as COVID became more prevalent, less and less people preferred in- person and wanted to switch to more remote options. At Minhas Lawyers, we were quick to adapt our services to meet your needs safely during COVID-19.
Here are a few ways that our real estate lawyers help you safely navigate the buying and selling process even during the pandemic.
Virtual meetings and conferences
The Law Society of Ontario now allows lawyers to meet virtually with their clients. This includes getting their virtual signatures and verifying their identity. When you meet with a Minhas real estate lawyer, you can now do so from the comfort of your own home via videoconference.
Secure money transfers
In traditional real estate transactions, funds were paid by cheque or bank drafts that were delivered to the lawyers’ office. While for closings of real estate transactions still require bank drafts to be dropped to our office in person, there are some instances where in- person contact can be minimized. Some of the ways we have adopted secure ways to transfer funds including wire transfers and direct deposits to the client’s bank for funds that are to be paid to the client. These transfers happen extremely quickly, and the funds can be accessed almost instantly by the client.
Contactless key delivery
In the past, clients purchasing a new property had to pick up their key from their lawyer after closing funds were delivered. But again, to keep everyone safe during the COVID-19 pandemic we have adopted creative solution.
Now the key is kept in a lockbox on the property that the client is purchasing. Once the closing funds have been transferred to the seller, the buyer is given the code to the lockbox. Not only does this method offer increased safety during COVID-19, but it is also much more convenient as the client does not have to make an extra trip to their lawyer’s office.
Contact Minhas Lawyers today
At Minhas Lawyers, we want to ensure that we are doing everything possible to protect our clients during the pandemic. If you are planning to buy or sell real estate, its important that you have a real estate lawyer that ensures your legal interests are looked after. But it’s just as important that you have someone who is also looking out for your physical health and safety.
If you are looking for a real estate lawyer who will help you conduct business in the safest way possible during the COVID-19 pandemic, then contact Minhas Lawyers today.
Minhas Lawyers LLP is a multi-practice law firm based in Mississauga. We advise and represent clients across various segments and practice areas.
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