Vernon & Salmon Arm Real Estate Lawyers Assisting With Property Purchases

The purchase of a property, such as a home, commercial property, or recreational residence, is one of the most significant financial commitments a person will make in their lifetime. Given the significance of this transaction and the costly fallout that can result when key details are missed, it is vital to have an experienced and reliable lawyer handle the purchase of any real estate.

At CM Lawyers, our knowledgeable real estate lawyers have been helping clients purchase property across British Columbia for over 50 years. We assist purchasers looking to buy property with all aspects of the transaction, from reviewing the initial purchase agreements to signing off on closing. Our vast experience allows us to effectively and proactively avoid, minimize, and manage potential issues to protect our clients’ interests. 

Providing a Personal Touch to Buying Property

A common frustration clients have with real estate lawyers is the minimal direct contact they have with the lawyers themselves. At CM Lawyers, we make it a priority to ensure our clients never experience this frustration. We work closely with you and touch base directly with your realtor to gain any insights they may have into the closing.

Our lawyers have cultivated excellent relationships with many realtors in the Vernon and Salmon Arm areas, and we are proud to say the vast majority of referrals we receive for real estate files come from real estate professionals. They have worked hard to provide clients with excellent service leading up to the purchase, and they want to be sure the high level of service and attention continues with the legal side of the transaction. We don’t take that responsibility lightly. 

Exceptional Representation in Property Purchases & Closings

From the time we receive your file, we will be in regular contact with the seller‘s lawyer to exchange information and documents and clear up any issues on the title. We will also work with your mortgage lender to ensure their requirements are satisfied before releasing funds for your purchase. If there is a delay in the receipt of funds, this can affect your ability to close on the agreed-upon date. A delay in a real estate closing is significant as multiple parties will be affected. The seller most often relies on receipt of the purchase proceeds to complete their own purchase, which in turn affects the seller of that property. A party responsible for a delay in closing may face fees payable to the other parties involved and even potential litigation.

Before closing, we will prepare all documents requiring signature and meet with you in person to have everything signed. We will then work with your lender to arrange for the release of the funds and send the purchase funds to the seller’s lawyer to complete the transaction on time.

Examination of Title

Upon receiving your file, our team will carefully search and review the property’s title to identify and address any concerns that need to be addressed before closing. Leaving the review of the title to later in the process can result in a scramble to adequately address these issues at the last minute, which we always want to avoid to ensure a timely closing. Most purchases are issue-free concerning the title, but because issues can require the action of others to address them correctly, we are always careful to prioritize the title search so that we have time to handle anything that may come up. 

Real Estate Purchases Requiring Special Consideration in B.C.

Some types of property, like the ones listed below, require special considerations. Our lawyers are well-informed on all real estate purchases and will ensure these are thoroughly reviewed ahead of closing.

Cabins & Other Remote Properties

Purchasing a property outside of traditional municipalities often requires additional inquiries about the municipal services provided. For example, if snow clearance is not provided, this can impact your access to the property in the winter months. If the property is water-facing, the ownership of the waterline must be investigated. Public access areas may also extend onto the property, affecting your right to build a dock or limiting your exclusive use of the beachfront area.

Strata or Condominium Properties

The strata corporation will have a set of rules and bylaws that owners must adhere to, and our lawyers will thoroughly review everything to ensure you are aware of your rights and obligations prior to closing. Additionally, we will investigate the corporation’s financial status and raise any red flags. For example, strata corporations are required to hold funds in a contingency reserve fund in the event of unforeseen repairs, such as balcony reinforcement or repairs to common areas. If the fund is lacking, this can translate to costly fees for owners if something were to go wrong in the future. 

CM Lawyers: Offering Seamless Real Estate Purchases in Vernon & Salmon Arm

The CM Lawyers client service model is designed to invoke a sense of approachability so clients feel comfortable asking any questions they may have throughout the closing process. Our casual atmosphere is evident throughout our office, from our suit-free dress code to our friendly support staff and lawyers, while always maintaining the highest standard of professionalism. Our skilled real estate lawyers prioritize your convenience from the time your file arrives at our office, keeping you informed of any changes as the file progresses.

CM Lawyers has convenient office locations in Vernon and Salmon Arm and proudly represents clients throughout the surrounding areas, including Northern Okanagan and Shuswap. To contact our seasoned real estate team, please call us in Vernon at (250) 308-0338 or Salmon Arm at (250) 803-9171 or reach out online.