The Role of Your Real Estate Agent and Lawyer in a Regina Home Sale

The Power Duo: How Your Real Estate Agent and Lawyer Work Together for Your Regina Home Sale

Last week, we clarified the nuances of property tax payments when selling your Regina home. This week, we're focusing on the collaborative efforts of two key professionals in your selling journey: your real estate agent and your lawyer. Understanding how they communicate and when you should engage with your lawyer is essential for a smooth and successful transaction.

How Does the Real Estate Agent Send Instructions to the Lawyer?

Your real estate agent is the primary point of contact throughout the marketing and negotiation phases of your home sale. Once an offer on your property is accepted and all conditions (such as financing or home inspection) have been met, your real estate agent plays a crucial role in initiating the legal process.

In most instances, it is your real estate agent who will send the initial instructions to your chosen real estate lawyer. These instructions are vital as they contain all the key pieces of information necessary for your lawyer to begin working on your file. This typically includes:

• The Property Address: The full address of the home being sold.
• Names of the Parties: The full legal names of both the sellers and the buyers.
• Possession Date: The agreed-upon date when the buyers will take possession of the property.
• Purchase Price: The final agreed-upon sale price of the home.
• Any Specific Terms or Conditions: Details of any special agreements or conditions that were part of the accepted offer.

This transfer of information usually happens very soon after all conditions on the offer are removed, making the contract firm and binding. Your real estate agent will ensure that both your lawyer and the buyer's lawyer receive these instructions, allowing both legal teams to start their respective work on the transaction promptly.

While your real estate agent handles the initial communication with your lawyer, it's important for you, as the seller, to know when and why you should directly contact your legal representative. Here's a general timeline and some key instances:

1. Early in the Selling Process (Ideally, Before Listing): While not strictly necessary, it's a good practice to have a real estate lawyer in mind, or even engage one for an initial consultation, before you officially list your home. This allows you to discuss any potential legal complexities related to your property (e.g., easements, shared driveways, or The Homesteads Act implications, which we discussed in Week 4) and ensures you have a legal partner ready once an offer is accepted.
2. Once an Offer is Accepted and Conditions are Removed: This is the critical juncture. As soon as your offer becomes firm, your real estate agent will send the necessary documents to your lawyer. At this point, your lawyer will open a file and begin the legal due diligence. You should expect to hear from your lawyer shortly after this to schedule a meeting to sign documents and discuss the closing process.
3. Approximately Two Weeks Before the Possession Date: If you haven't heard from your lawyer by about two weeks before your scheduled possession date, it's advisable to proactively reach out to them. This check-in ensures that they have received all necessary instructions, that everything is on track, and that there are no unforeseen delays or issues that need your attention before closing.
4. For Any Legal Questions or Concerns: Throughout the selling process, if you have any legal questions, concerns about the contract, or need clarification on any aspect of the sale that falls within the legal domain, your lawyer is your go-to resource. Do not hesitate to contact them directly.

By understanding this collaborative process and knowing when to engage with your lawyer, you can ensure that the legal aspects of your Regina home sale are handled efficiently, protecting your interests every step of the way.

Thinking of selling your home, reach out to Optimum Reatly Regina and let's discuss your options!