Welcome to the future of real estate sales in Ontario
Lawyers Web Property Shop Limited (Propertyshop.ca) harnesses the power of the internet to bring a whole new way of buying and selling real estate to Ontario.
Propertyshop.ca is where individuals sell their own real estate with their lawyer providing the legal work and advice. It is based partly on the very successful Scottish Solicitor Property Centres and partly on the ForSaleByOwner (FSBO) concept. Individuals wishing to sell their own properties enter the market with confidence and quality legal advice from the very start of the transaction.
Traditionally in Ontario there were two ways to sell your property:
With a "For Sale By Owner" sign on the front lawn, or through a traditional real estate agent and broker who usually charges a six per cent fee, plus HST.
Propertyshop.ca is a new endeavour that changes all that. And the best part is, it is an alternative that can save you thousands of dollars. It is a sales opportunity that will offer significant benefits for both buyers and sellers in Ontario. It is a concept whose time has come.
In the past, if you set out to sell your home on your own, you were very much on your own.
With Propertyshop.ca you still sell your own home, without having to pay thousands of dollars in commission, but you have professional marketing tools and you have the security of your trusted lawyer to guide you through the legal steps. Your lawyer will help you negotiate an agreement of purchase and sale and advise you on all the legal issues involved in a sale or a purchase of a property.
And you get all this for much less than a six per cent commission.
Propertyshop.ca provides:
- a web site listing of your property at Propertyshop.ca with your own property ID where details of your property are available 24 hours a day 7 days a week
- detailed text outlining your property 20+ pictures of your home
- Mapquest to locate your property
- your e-mail and phone number for potential purchasers to contact you
- listing of your open houses
- ability to print fliers of your property
- a 24 hour information line to give a three minute message on your property, (the extension number to use on the phone line will be the same number that is your ID number on the website. There will be a toll-free number for out-of-town buyers, and there will be an opportunity for callers to leave a message)
- a large (24” x 32”) lawn sign with the price and details of the 24-hour info line and website ID on it
- various other marketing tools for you to use to market your property
Your lawyer will be there to:
- advise you on representations and warranties of a sale or purchase
- advise on disclosure form and latent and patent defects
- advise on conditions for sale and purchase
- advise on issues regarding legal title
- advise on issues regarding zoning
- advise on water and septic issues for rural properties
- assist you in completing the details of your property
- advise and aid in the negotiation of agreement of purchase and sale
- conduct legal searches required for opinion on title
- advise on a survey and related issues
- advise on title insurance
- advise on holding title as tenant in common or joint tenancy
- advise on issues arising from the Family Law Act
- advise and deal with numerous other legal issues that may arise
- take instructions from Mortgage company
- complete or review closing documents to include:
- draft or review transfer deed
- draft or review statement of adjustments
- draft or review declaration of possession (if required)
- draft and review other directions
- draft mortgage and take instructions if purchase financing to be in place
- obtain pay out and arrange for discharge of existing mortgage
- arrange for closing of transaction and exchange of money and keys
- answer any legal questions you may have on the whole process of your sale or purchase
When you list your home with Propertyshop.ca, you will have a professional to speak to and be advised by throughout the process. No longer will you be out there trying to deal with the legal issues of selling or buying a house without legal advice. Lawyers have been involved with the purchase and sale of property for decades and it only makes sense to bring your lawyer into the process sooner.
Your lawyer can give you details about the property and provide incidental services to their main purpose of providing legal services.
On an average house sale, you will save thousands of dollars in commissions.
Meet with your lawyer and discuss their fees which can be a percentage, a fixed fee, or an hourly rate, in addition to the $380.00 fee paid to Propertyshop.ca for their various services. This is all open for discussion. No longer is your choice the 6% plus HST solution (and you would still be paying the legal fees).
In order to save this money, there are some things you have to do, but Propertyshop.ca will provide support and guidance throughout.
You will need to:
- set the asking price of your home, with or without an appraisal (appraisals are recommended),
- measure your house and the rooms,
- list details of your home and area,
- take pictures of your house,
- hold open houses,
- put up your lawn sign,
- record the 3-minute message on your house,
- determine what other advertising opportunities you want to pursue (a newspaper classified word ad directing people to your listing on Propertyshop.ca is recommended).
Professional support for all of these services is also available through Propertyshop.ca at a reasonable fee.
Sell or purchase a property using the power of the internet. Propertyshop.ca is a powerful alternative that will save you thousands of dollars.
