Our Fees> Residential Real Estate Purchase - There is nothing mystifying about our fee structure.  Generally, the legal fees, excluding disbursements, for a residential real estate purchase transaction can run from $500.00 to $750.00 depending on the complexity of the deal or the mortgages involved.  Disbursements are in addition to the legal fee and on a purchase the disbursements will include the cost of a Title Search, which is usually in the range of $50.00 to $100.00.  The lending institution will often require either a Survey or Title Insurance.  The preference today seems to be for Title Insurance which is in the range of $150.00 to $300.00 depending on the property.  The cost of Title Insurance is less than the cost of a Survey.  For more information on Title Insurance please see the blog on Title Insurance.  In addition to the costs of the Title Search there are also costs for the various searches including an Execution Search (to determine whether the present owner has any Liens against his or her name which could affect the transfer of Title), requisitioning a Tax Certificate and, if required, a Zoning Certificate from the Municipality.  There is a very important cost in the purchase of real property in the Province of Ontario and that is the Land Transfer Tax.  Land Transfer Tax is calculated on the following basis on Purchases up to $55,000.00 the tax is calculated at the rate of .5%, from $55,001.00 to $250,000.00 the rate changes to 1.0%, from 250,001.00 to $400,000.00 the rate is 1.5% and over $400,000.00 the rate changes to 2%.  There are some exceptions with respect to first time buyers of real property, for more information please go to the blog on Land Transfer Tax. Selling - The typical legal fee on a simple residential sale transaction is $500.00 plus disbursements and, on a typical sale, disbursements are under $100.00.  Mortgages - The fee for a simple residential mortgage transaction is $375.00 plus disbursements and disbursements would include items such as a Execution Search and Title Search and, if require by the Lender, Title Insurance. COMMERCIAL REAL ESTATE – In commercial real estate transactions the fee will be a function of the amount of legal time involved in either structuring the deal or attending to closing.  In the event the lawyer is involved in drafting or assisting in the drafting of the Agreement of Purchase and Sale, then the fee would obviously be greater than if the lawyer is simply asked to “close” the real estate transaction.  It is strongly recommended that, in large commercial transactions, the lawyer be involved in drafting or assist in drafting the terms of the Agreement of Purchase and Sale so as to ensure that the parties are adequately protected.  In commercial real estate transactions there will likely be additional searches required in order to ensure that there are no Liens against the seller and, in some cases, the lending institution would require that their lawyer be involved in negotiating the terms of the mortgage and registration of same.  For more information on commercial real estate transactions please contact us to set up an appointment for time to discuss the matter. Litigation - For litigation matters, the Lawyers in our firm charge between $200.00 and $300.00 an hour depending on which lawyer is serving the client and the nature of the legal case.  In litigation a retainer is usually required and for more information on a retainer please see the article on retainers available on this web site. We do pride ourselves on the value that we give our clients for the money that they spend.  If you have a specific need related to legal issues then please contact us to set up an appointment to discuss your specific legal needs. Wills and Powers of Attorney – Our fee for a simple Will is $100.00.  Along with a Will we strongly recommend that clients sign Powers of Attorney being firstly a Power of Attorney for Personal Care (referred to as a “Living Will”) and a Power of Attorney for Property.  The cost for each Power of Attorney is $50.00.  It is important to note that a Will can only be binding upon the death of the Testator and that, should a person be alive but disabled, they should have valid Powers of Attorney in order to protect their interests.  Sometimes Wills can be more complicated including Wills where a Henson Trust is involved (for those persons having a disabled child or relative for whom they wish to leave a Trust) or multiple Wills were persons may have property in various jurisdictions and/or business interest which they wish to protect by way of a Secondary Will.  The fees for these more complicated Wills should be discussed with the lawyer when instructions are provided.  All fees quoted above are subject to the Canadian Government GST on the service provided.