Conveyancer Solutions

03/23/2024

It's Tip Tuesday folks.

If you've bought or sold a home, you might have heard of title insurance.

Title insurance often comes up when a seller does not have a current real property report and compliance letter or any at all and instead, offers to cover the cost of title insurance for the buyer. It's always preferable to get a current and accurate real property report and compliance, but it doesn't hurt to get title insurance in any event and especially if you aren't getting a current rpr/compliance. Some places like Morinville don't offer compliance any more so title insurance is the only option. Often when buying a new build home you don't get any rpr, so having title insurance is key.

However, title insurance also covers many potential issues and it is wise to have regardless of whether or not a real property report exists or is irrelevant (e.g. apartment condo).

Title insurance is a special policy of insurance that you pay for once and which lasts the entire time you own the property. You are not obligated to get it just because you are buying a home, however, the vast majority of lenders require you to have it in place, especially if you use a nonchartered bank, which is very common if you go through a mortgage broker.

Title insurance can protect you from any liens that go onto the property during the gap between the property transferring to you from the seller, identity theft, fraud, permitting issues, grading issues, and much more. It's not an automatic that the insurance will cover you if you discover an issue after the fact or that something was missing a permit or not inspected, encroaches or otherwise, but for a couple hundred dollars, in comparison to several hundreds of thousands, it's a worthwhile investment.

The cost is based on the amount of price, amount of mortgage, and sometimes the type of home e.g. acreage or new build. Fortunately for you, I get a discount and pass it on to you :)

Any questions, let me know.

03/23/2024

Exciting news - We are now accepting credit cards AND we have an automated driver dispatch app for our delivery division!

03/08/2024

BIG ANNOUNCEMENT

The BEST document specialist in Alberta has agreed to join our firm! Business is about to explode 👌 We could not be more thrilled! 👏 Welcome Kathy to the team 💜

02/10/2024

Are you ready to see how easy our process is?

We’ll handle the heavy lifting and complete your real estate closing in just six easy steps.

1. Once we receive conveyancing instructions, client(s) contact information and mortgage instructions, if applicable, VPS completes all necessary searches, requests payout statement from financial institution (FI), if applicable, and conducts due diligence. If there are any title discrepancies, VPS will resolve these with the lender and the client(s).

2. Your client(s) will receive two separate emails from VPS. The first email is the welcome email. The second email will inform your client(s) that the documents are ready for signing, to contact your office to book their appointment and what they are required to bring to their signing appointment.

3. The document packages are electronically sent to your office for printing and file handling.

4. Upon receipt of the signed documents (electronically) from your office, VPS requests funds from the lender or prepares the trust letter for your office to send.

5. The day before closing your office will receive closing documents.

6. On closing day, VPS will complete the protocol search (if applicable) and provide your office with the DRR to submit for registration.

02/08/2024

Conveyancers too!

Hey folks. Some people think that all we do as lawyers is transfer money from party A to B.

There's a lot more work that gets done before, during, and especially after your possession date.

If your deal has some outstanding work that a seller has to do for the buyer e.g. repairs or a real property report and compliance issue, then we have to monitor and handle that until resolution. Negotiate settlements, chase the City, other lawyer, and more.

If you are buying and getting a renovation holdback component, we need to monitor that and see it through the inspection by the bank and release the money to you.

If there are tax holdbacks or a seller doesn't cancel their taxes like they are supposed to, we deal with these issues.

We have to follow up and give a clear title to the buyer's lawyer when selling and chase the seller's lawyer for the clear title to report to you and to your mortgage company, as well as complete the rainforest's worth of interim and final reporting to your mortgage lender. This can go on for a year or more with bank delays in getting rid of old mortgages.

Lots of work and follow up to do to see your file to completion that lasts a lot longer than the date you move in.

02/08/2024

Here are a few things real estate lawyers love about us:

✅ Train your current employees for one calendar month completing your firms’ residential real estate transactions.

✅ Increase profitability, quality, efficiency, and productivity, all while reducing stress.

✅ Eliminates the need to find additional office and desk space for a temporary or contract employee during the busy months and eliminates the need for lay-offs during the slow months.

✅ Instead of paying salary, vacation pay, benefits, sick pay, bonus pay, etc., you only pay for the work you need done. This is especially helpful in the slow months.

✅ Finding a reliable part-time or temporary employee can be difficult these days. Outsourcing ensures you always have the help you require.

✅ If you are currently spending a lot of your time on administrative tasks, outsourcing can help to free up your time to concentrate on developing and growing your business.

✅ Rush services (at additional cost) and prepare files well in advance of the client(s)’s appointment.

✅ Can provide help to lawyers who are new to the conveyancing realm to set up a conveyancing system.

✅ Our cost certainty and transparency allows you to determine your support costs up front, which helps manage your budget.

✅ Streamlined end-to-end solution completes documents and searches – which keeps you or your assistant on track for closing day.

✅ Convenient remote document preparation allows for faster turnaround times.

02/08/2024

Welcome to Conveyancer Solutions

Alternative residential conveyancing, designed by conveyancing experts

We provide support to law firms for their residential real estate transactions. Our office also provides conveyancer training, which has been quite successful.

We have been assisting lawyers with residential real estate transactions across Alberta for over 27 years. We have extensive experience preparing residential purchases, sales, mortgages, refinances, discharges, transfers and drafting contracts.

Just like you, we’re committed to your client(s) real estate journey!

We have designed our service with real estate lawyers in mind; giving them access to affordable, alternative conveyancing support.