Buying or selling a home in Saskatchewan is an exciting milestone, but once the purchase agreement is signed, the legal process is just getting started. Retaining a lawyer early in the process helps prevent delays and protects your legal interests.
In Saskatchewan, residential real estate transactions follow specific legal procedures governed by provincial laws and the Land Titles Registry system. Taking the right steps immediately after signing your agreement can help avoid delays, unexpected costs, and legal complications. If you are conducting a private purchase and sale without the assistance of a realtor, a lawyer can assist in drafting the offer to purchase/offer to sell to ensure your legal rights are protected and review any contracts of purchase to provide you with legal information, advice, and guidance prior to signing.
Whether you are a seller or purchaser, you should notify your lawyer that there is an accepted offer once all conditions have been removed, at the latest. You may also notify your lawyers prior to condition removal. Once conditions have been removed, ask your realtor to send conveyancing instructions to your lawyer. If you are a purchaser obtaining financing through a lender, ask your lender or mortgage broker to send mortgage instructions to your lawyer.
Once your lawyer is aware that conditions have been removed, your lawyer can begin preparing for closing and the possession date. If you are a purchaser, be prepared for your lawyer to request the following from you:
- Confirmation of fire insurance (home insurance) – Purchasers must obtain fire instruction effective on the possession date. Most Saskatchewan lenders require proof of adequate insurance coverage prior to releasing mortgage funds. Without proper and adequate insurance, your lawyer cannot complete the closing.
- Closing Costs – In Saskatchewan, closing costs typically include legal fees and disbursements, Land Titles registration fees and title transfer fees, and adjustments for property taxes or utilities. Your lawyer will provide you with a statement of adjustments, outlining exactly what you owe before closing and how that has been calculated. If you cannot provide your lawyer with the closing costs prior to the possession date, you will not receive possession of the property.
Even experienced purchasers and sellers can run into issues in a real estate deal. Avoid these common pitfalls:
- Missing condition deadlines;
- Not reviewing an offer to purchase carefully;
- Assuming verbal agreements are enforceable;
- Delaying contact with a lawyer;
- Posting transaction details on social media; and
- Making large financial changes before closing.
Real estate lawyers play a critical role in Saskatchewan residential property transactions and are responsible for:
- Registering title transfers with Land Titles;
- Ensuring funds are properly transferred;
- Confirming legal ownership; and
- Handling mortgage documentation.
Whether you are buying or selling residential property in Saskatchewan, our Real Estate Team can provide you with clear and reliable legal guidance every step of the way so that you can focus on the excitement of a sale or new home.
If you have questions about parenting arrangements, wills, or legal decision-making for your children, our family law team is here to help you understand your options and plan for your family’s future.
This article is intended for general informational purposes only and should not be taken as legal advice. It does not address the specific circumstances of any individual case and is not a substitute for obtaining advice from a qualified lawyer. Reading this article does not create a solicitor-client relationship, and you are encouraged to consult legal counsel before making any decisions regarding your legal rights or obligations.
