What To Do When Closing On A Property (Ep. 148)

In this episode

  • The importance of title insurance
  • What does a real estate lawyer actually do?
  • How to deal with tenanted properties
  • Asking for final walk-throughs 
  • How to use small claims court when facing issues
  • JVs… Exit strategies!

Guest

Diane Ulman, Lawyer

Diane started practicing law about 10 years ago. She now deals with ‘happy’ law which means real estate whether buying or selling. Thanks to COVID, 99% of closings are now virtual. Diane was recently asked by a 4 year-old what she does as a real estate lawyer. Here are her main duties:

1. confirming the right people are signing and involved.
2. Confirming information about the property and
3. Confirming the money!

We also learned some key points regarding JVs and private mortgages. It’s much easier to get in JV compared to exiting one. How is the information being shared? Are some of the JV partners silent partners? How is the money tracked? There are so many important factors to consider when entering a JV. The Exit must be planned before anything is done.

As for private mortgages, the possibilities are endless! Make sure to speak with a lawyer experienced in the private lending world to ensure a smooth process.

Get in touch with Diane:

Website: www.integrislaw.ca

Email: diane@integrislaw.ca

Brought to you by

Legal Second Suites – https://legalsecondsuites.com/

Black Jack Contracting – https://blackjackcontractinginc.ca/

BM Select – https://bmselect.ca/

The show notes are brought to you in part by Building Stack, our official digital signatures provider. Building Stack is a flexible property management platform built in Canada. Sign documents and leases faster with their new digital signature add-on! Special REITE Club discount to get started today! www.buildingstack.com