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Commonly Asked Questions about House Selling Legal Documents

Whether you hire an Ontario realtor or sell your house privately, youll need a real estate lawyer to finalize the transaction.
If your sale is more straightforward, you can use either a conveyancer or a solicitor. Both will be qualified to guide you through the legal process. Those selling complex properties such as help to buy and shared ownership require a conveyancing solicitor. Do I Need a Solicitor to Sell My House? - Compare My Move comparemymove.com conveyancing do comparemymove.com conveyancing do
If selling an investment or secondary home within a year, youll owe capital gains tax on 50% of your profits . At a 50% inclusion rate in Ontario, a $100,000 gain equals $25,000 in capital gains tax .
The Canada Revenue Agency (CRA) tracks house sales through various means. When a property is sold, the lawyer handling the transaction typically notifies CRA through a tax form called a T2091 or T2091(IND), which outlines details of the sale including the sale price.
A purchase and sale agreement, also called a sales and purchase agreement or a purchase and sales contract, is a legally binding document that parties in a transaction use to stipulate the terms and conditions that will guide the sale and transfer of goods or property.
If you are buying or selling a home in the state of New York, it is required that you work with an attorney to process all contracts and represent you at the closing.
If you are selling a home in New York state, you will need to hire not only a real estate agent to market and negotiate offers on the property, but also an attorney to prepare the contract of sale and to represent you at the closing.
Youll need a variety of documents in order to sell your home. Some of the most important include your mortgage loan documentation, mandatory disclosures and the deed.
The funds from your home sale will typically be available within one business day of the money being transferred. Depending on the chosen payment method, funds can take anywhere from 24 to 48 hours to be processed before they are deposited into the home sellers account and available to use.