Welcome to Lama Law, a law firm specializing in Residential Real Estate. Lama Law Real Estate Law can help you Buy, Sell, or Refinance homes throughout the Greater Toronto Area.
Welcome to Lama Law, a law firm specializing in Residential Real Estate. Lama Law Real Estate Law can help you Buy, Sell, or Refinance homes throughout the Greater Toronto Area.
Real estate deals are often the most significant transactions an individual can participate in during their lifetime. Lama Law provides comprehensive support to clients in the Mississauga area, guiding them through every step from examining purchase agreements to conducting title searches and collaborating with financial institutions to ensure a seamless closing process. Different types of properties, such as vacation homes, cottages, and condominiums, come with specific considerations that we clarify for our clients and oversee throughout the transaction. Lama Law, a seasoned residential real estate law firm catering to Mississauga residents, is adept at helping clients navigate the complexities of real estate transactions, resolving current issues, and proactively preventing future complications.
*All prices are estimates for a standard transaction and exclude applicable taxes and disbursements. Terms & Conditions may apply.
Pav Lama earned her bachelor’s degree at York University and earned her law degree at the University of Birmingham, UK. Called to the Ontario Bar in 2016, she has been proudly serving her clients in Oakville and the Greater Toronto Area ever since.
Specializing in real estate transactions, corporate law, notary services, powers of attorney & wills, she provides personalized and reliable service to her clients. Whether you’re buying a home, protecting your assets, or planning for the future, with Lama Law taking care of your legal needs you’ll have one less thing to worry about.
Lama Law is committed to giving our clients premium real estate services in an efficient and budget-friendly manner. This is why we are delighted to provide online video signing meetings as a handy and protected choice for our clients. With this option, you have the ability to electronically sign legal paperwork from the ease of your residence or workplace without requiring face-to-face appointments.
We work with your schedule by offering weekend and evening signings by appointment. Our advanced software allows for fully virtual signing appointments, enabling you to close your deals effortlessly, from any location.
Buying or selling a home can be stressful. At Lama Law, we understand our clients’ needs to be informed every step of the way and offer responsive service.
We are here to answer any questions you have. We can help you with your:
Ontario law requires a licensed lawyer to access the land registry system to complete the legal transfer of property ownership. Your lawyer will review your closing documents, conduct title searches, manage funds and disbursements, review mortgage instructions, arrange title insurance, correspond with necessary parties and ensure exchange of documents on closing day.
The moment you have a firm Agreement of Purchase and Sale, you should reach out to your real estate lawyer. It takes time to process your file; the earlier the better.
There are a number of tasks that must be completed before closing day and they include ensuring all financing is in place with your mortgage broker or bank advisor, conducting final walk-throughs of the home, meeting with your lawyer to review and sign closing documents, whether in person or virtually, and confirming the transfer of utilities and insurance.
There are many steps to arranging mortgage funding on day of closing and to avoid delay, we recommend you meet with your mortgage broker or bank advisor immediately after the Agreement of Purchase and Sale has been finalized. Your lender contact will review your financial goals and creditworthiness and from there, will pre-approve you for your mortgage. Once your commitment letter has been signed, your lender will send mortgage instructions to your real estate lawyer to be reviewed and satisfied for the advance of funds on closing day.
It is recommended that mortgage instructions be sent no later than three business days before your closing day to ensure a seamless and timely closing.
There are different costs associated with whether you are buying or selling real estate in Ontario.
When selling your home, you can expect to pay your legal fee plus HST and disbursements, real estate commissions and adjustments for property tax and common expenses (if applicable). You will also need to remember, any debt or mortgage on title must be paid in full and discharged with the proceeds of your sale.
When buying your home, you can expect to pay legal fee plus HST and disbursements, land transfer tax, title insurance premium, lender appraisal fees, lender default insurance (if applicable) and adjustments for property tax and common expenses (if applicable).
Provincial land transfer tax is applied onto every purchase of a home in Ontario and the tax is calculated on the purchase price or fair market value of the land.
If you are purchasing a home in Toronto, municipal land transfer tax is also applicable on the purchase price or fair market value of the land.
Land transfer tax must be paid in full and is often adjusted for in the balance due to your lawyer on closing.
Note that there are additional rebates (First-Time Homebuyer Rebate) and additional land transfer tax (Non-Resident Speculation Tax) that may apply depending on your specific situation. Use the trusted calculator at www.trreb.ca
Lama law was able to help prepare and explain our wills and power attorneys, in a clear and concise manner. We appreciated the honest advice and feedback in our decision making process. It was easy and professional. Highly recommend using their services. Also beautiful office.
Thanks Lama law for all the help in closing of the asset purchase for my clinic. Your knowledge and expertise was vital.
Pavandeep Lama was patient, kind, and professional. She was easy to work with, charged reasonable fees, and helped us understand the entire process. We felt comfortable and secure working with her. Absolutely reccommend!
We had our will and estate matters handled by Lama Law and they were detailed and timely on turning it around for us.
Definitely recommend!
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