COMPARE THE "REAL COST" PRICING OF MURRAY H. MISKIN WITH "ALL-INCLUSIVE" REAL ESTATE LAWYER PRICES:
MANY LAWYERS SAY THEY QUOTE YOU ONE PRICE TO COVER THE "FULL COST" OF A REAL ESTATE TRANSACTION....
FIRST READ THEIR FINE PRINT WHICH USUALLY STATES THAT THEIR PRICE DOES NOT INCLUDE G.S.T., REGISTRATION FEES AND LAND TRANSFER TAX. THEY ALSO SAY THE FEE DOES NOT INCLUDE MORE THAN ONE MORTGAGE AND ONLY APPLIES TO A "STANDARD TRANSACTION" . THEY ALSO SAY COSTS CAN BE HIGHER WHEN THE PRICE IS OVER $500,000. SOMETIMES THERE ARE OTHER EXPENSES THAT ARE ALSO CHARGED AS EXTRAS. WHEN YOUR LAWYER FACES EXTRA COSTS YOU CAN BE SURE THOSE COSTS WILL BE PASSED ALONG TO YOU. WHEN THERE IS A COST SAVING (FOR EXAMPLE YOUR BANK INCLUDING REGISTERING A MORTGAGE DISCHARGE IN ITS CHARGE TO YOU) MAKE SURE YOU DO NOT GET CHARGED AGAIN BY YOUR LAWYER FOR A MORTGAGE DISCHARGE. ALSO THE "ALL-INCLUSIVE" FEE IS USUALLY RESTRICTED TO THE AREA WHERE THE LAWYERS' OFFICES ARE LOCATED WITH EXTRA CHARGES PASSED ON TO YOU IF TRAVEL OR AN AGENT IS NEEDED. IF YOUR TRANSACTION IS ANY DIFFERENT THAN THE STANDARD ONE THE PRICE WILL BE HIGHER WITH THE ALL INCLUSIVE LAWYER. BE A CAREFUL CONSUMER AND MAKE SURE YOU UNDERSTAND LAWYER CHARGES BEFORE YOU COMMIT BASED ON A PROMISED LOWER OR FIXED FEE.
Here is an example where the all inclusive fee is advertised as $1229.00:
Plus registration costs and land transfer tax... Plus 5% GST and for properties under $500,000. Fixed pricing is based on transactions on properties located in Durham Region and comprising the whole of a lot on a registered plan of subdivision. Pricing in effect April 1st, 2008. Fees subject to change without notice.
Here is another example where the all inclusive fee is advertised as $1150.00:
The only additional charges payable are the land transfer tax and the registration of the deed and the mortgage. There are no other hidden or additional charges.... Prices quoted above are for standard home purchases under $500,000.00 with one mortgage located in the Durham region. Additional charges may result for non-standard transactions, properties located outside of Durham region, properties over $500,000.00, or for transactions requiring additional registrations.
WE HAVE BROKEN DOWN THE "STANDARD TRANSACTION" WHERE SOME LAWYERS CHARGE A FIXED PRICE. IN COMPARISON OUR TOTAL COST TO YOU IS LESS. IF YOU DO NOT BELIEVE US AND PREFER A FIXED PRICE RATHER THAN THE REAL COSTS WE WILL FIX THE TOTAL PRICE LIKE THOSE OTHER LAWYERS. WE WILL THEN CHARGE YOU $50 LESS THAN THE OTHER LAWYER'S TOTAL COSTS FOR A PURCHASE AND ANOTHER $50 LESS FOR A SALE. YOU WILL ACTUALLY SAVE MORE WITHOUT A FIXED OR ALL-INCLUSIVE PRICE.
WITH MURRAY MISKIN AS YOUR LAWYER, THE FEE, WHICH IS THE PRICE WE CHARGE FOR THE TRANSACTION NOT INCLUDING TAXES OR EXPENSES, DOES NOT GO UP IF YOU GET TWO MORTGAGES OR IF YOU DO NOT HAVE A STANDARD TRANSACTION. THAT IS A PROMISE WHICH WE WILL NOT BREAK. WE WILL CHARGE YOU ACTUAL EXPENSES WHICH WE ALWAYS TRY TO KEEP LOW. IN A COMPLEX TRANSACTION OR ONE WITH MORE THAN ONE MORTGAGE THE EXPENSES WILL BE HIGHER AND THAT CAN NOT BE AVOIDED BY ANY LAWYER. ANY LAWYER WILL MAKE YOU PAY THE DIFFERENCE WHERE EXPENSES ARE HIGHER. IF THERE ARE EXISTING TITLE PROBLEMS ON A PROPERTY TO BE SOLD CLEARING UP THOSE PROBLEMS IS SEPARATE FROM ACTING ON THE SALE AND WILL INVOLVE AN ADDITIONAL FEE NO MATTER WHO YOUR LAWYER IS.
Put
your new home in our hands. We will not let you down.
OUR FEE DOES NOT VARY AND WE WILL NOT RAISE OUR PRICE AFTER YOU CHOOSE US FOR A TRANSACTION. OUR FEE IS $600 FOR A HOME OR COTTAGE PURCHASE AND $500 FOR ANY SINGLE RESIDENTIAL UNIT SALE AND THE PROPERTY CAN BE ANYWHERE IN ONTARIO WITH ANY PURCHASE PRICE. IF ANOTHER LAWYER OFFERS YOU A LOWER FEE MAKE SURE THAT FEE INCLUDES WORK ON THE MORTGAGE(S) AND THAT THERE ARE NO HIDDEN EXTRA FEES.
MANY LAWYERS ARE NOW USING A PROGRAM THROUGH STEWART TITLE WHERE THE TITLE INSURANCE PREMIUM INCLUDES A $100 FEE FOR PROCESSING THE INSURANCE POLICY. SOME LAWYERS WILL KEEP THAT $100 AS AN ADDITIONAL FEE. THEY ARE REQUIRED TO DISCLOSE ALL CHARGES AND FEES TO THEIR CLIENTS BUT DO NOT ALWAYS DO THAT. WE DO NOT CHARGE THAT $100 TO YOU. WE DISCOUNT THE COST OF TITLE INSURANCE TO YOU BY $100 WHEN YOU PAY FOR STEWART'S TITLE INSURANCE. A STEWART POLICY THROUGH OUR OFFICE WILL COST YOU ON AVERAGE $251 INSTEAD OF $351. OTHER TITLE INSURERS SUCH AS TITLE PLUS OR FIRST CANADIAN (WHOM WE ALSO DEAL WITH) MAY BE BETTER FOR YOUR SPECIFIC TRANSACTION AND THEIR FEES HAVE COME DOWN BECAUSE OF PRESSURE FROM STEWART. FIRST CANADIAN OFFERS A DEFERRED CLOSING COST PROGRAMME AVAILABLE THROUGH US OR ANY OTHER LAWYER IF YOU CHOOSE FIRST CANADIAN FOR YOUR TITLE INSURANCE. WE WILL CONSIDER COST AND OTHER FACTORS AND GIVE YOU THE BEST TITLE INSURANCE PROTECTION FOR YOU COMBINED WITH THE BEST PRICE.
KNOW WHAT YOU ARE REALLY PAYING. SEE OUR PRICE LIST FOR REAL ESTATE
YOU SPEND A LOT OF MONEY ON YOUR HOME OR OTHER PROPERTY. LEGAL FEES ARE A SMALL PART OF THE COST BUT IT IS A PART WHERE WE HAVE MOST COMPETING LAWYERS BEAT. MORE THAN LOW PRICE, YOU NEED GOOD RELIABLE ADVICE AND SERVICE FROM YOUR LAWYER. THAT IS WHAT IS MOST IMPORTANT TO US. Call Arlene at 905-430-8880 extension 119 or Murray at Extension 111 to discuss your situation.