Real Estate Law Firm Mississauga

Experts of Real Estate Law in Mississauga on the Listing Process

Every day, a lot happens on the real estate market. New properties are listed while the existing listings get sold. Asking prices are negotiated and many tenants become proud home owners. But is listing a property that simple?

NDM Law’s real estate law advocates in Mississauga take a look at the pre-requisites of listing a property. Take care of the following things before you proceed to listing your property for sale.

·         Sort your mortgage

The first place you should head before listing is your bank. You need to have a clear idea regarding how much you’ll be paying your bank to discharge your loan.

It’s better that all bank dues are paid beforehand. That way, you won’t have to pitch in money in case the net proceeds from the sale are inadequate to pay off the mortgage. Ask your bank:

Ø  How much you owe on your mortgage?

Ø  Any payout penalty that you’ll be charged with? If yes, how much?

Ø  Any discharging fee charged by your bank?

After working all these details, you may find out that you’ve paid more than the market worth of your home. In that case, if possible, wait for a favorable time for real estate.

•          Sort your land title issues

If there’s any litigation pending regarding your land title, if you’ve changed your name post acquiring the property in question, or if there’s any other pending legal; implication against the title of your land, clean that up. Sorting land title is very important before listing.

Contact a legal team proficient in real estate law in Mississauga to deal with title issues in time. Any skeletons in the closet relating to land titles can ultimately weaken your bargaining position with the buyer or they may even lose interest in investing in your property. 

• Power of Attorney of Property

What if your property is in a distant part of the state and you may not be there at the time of dealing? Who’ll make the sale on your behalf?

If you have a trustworthy person by your side who can be present there on your behalf when the deal is closed, get a Power of Attorney for Property or a General Power of Attorney made. It’ll save you time, effort, and headache of traveling to and fro each time a buyer gets interested.

Above three points are of utmost importance when you’re listing your property. For queries related to real estate law in Mississauga, contact NDM Law.