Residential Real Estate
Services Provided
1. Sale of property;
2. Purchase of property;
3. Refinance.
4. For transactions not mentioned on this page such as construction draw mortgages, farm properties, please call 780-752-2966 for a quote.
Axon Law is pleased to offer transparent and predictable flat-rate services for all real estate transactions. Our flat-rate services include the following to ensure that your transaction is closed smoothly:
1. Obtaining copy of title, tax certificate, condominium documents, estoppel certificates, mortgage documents, insurance certificate;
2. Drafting transfer of land, covenant to restore, tenancy at will, transfer back, mortgage, statement of adjustments, certificate of exempt supply, foreign ownership declaration, notes to buyer/seller, direction to pay, statutory declaration;
3. Meeting with you to sign all documents;
4. Registering transfer of land, mortgage, caveats;
5. Funding or paying out realtors, mortgage, disbursements, legal fees;
6. Time corresponding with you, realtors, opposing lawyer, lender;
7. Interim/final report to all parties;
Please note that the below rates are exclusive of disbursements (explained below “Disbursements”) and any circumstances where additional services are required or unexpected issues arise (see below “Additional Fees If Applicable”).
Sale of Property
Professional fee:
1. Property valued less than $500,000: $1,000 includes one mortgage to discharge,
2. Property valued between $500,000 - $1,000,000: $1,100 includes one mortgage to discharge,
If there are additional mortgages to discharge: +$100 per mortgage,
Purchase of Property
Professional fee: $1,100 includes one mortgage,
If there is an additional mortgage: +$300 per mortgage,
Sale and Purchase Discount
If we process both your sale and purchase with possession dates within 3 months, then we will offer a discount of 10% on the second transaction for our professional fees.
Ex. You are buying a property with possession on June 15 and selling your old property with a closing date of August 15. We will deduct 10% from our professional fees on the sale.
Mortgage Refinancing
Professional fee: $1,000 includes one mortgage,
If there is an additional mortgage: +$300 per mortgage,
Disbursements
Disbursements are fees that we pay out of pocket to third parties on your behalf and standard office fees to cover office expenses. These fees vary depending on your property and what is required to close the transaction. We strive to be transparent regarding the nature of these fees:
1. Our Standard Office Fee is a flat-fee of $100 that goes towards each file to include:
a. General offices expenses: photocopying, printing, faxes, runners, bank runs;
b. Delivery services: regular postage, registered post with Canada, courier within the City of Edmonton;
2. Land Title fees:
a. Copy of title: $10/copy;
b. Tax Certificate search: $15.75/search for Edmonton; other municipalities subject to that municipalities’ rate;
c. Registration of mortgage and any other documents (see AB Land Title Fee Schedule: https://www.alberta.ca/assets/documents/sa-land-titles-common-documents-fee-schedule-changes-Jan-1-2020.pdf);
3. Other fees:
a. Courier cost outside AB: market rate;
b. Condominium Documents: rate set by your Condominium Corporation or Management Company;
c. Title insurance: we go by rates offered by Chicago Title or Stewart Title (varies depending on property value);
Additional Fees If Applicable
1. Additional fees may apply to the following situations due to rush service on the following basis:
Conveyancing documents and mortgage instructions received by us less than two weeks before possession date: +$200,
Conveyancing documents and mortgage instructions received by us less than one week before possession date: +$300,
Complex lenders: these are not the usual main/prime lenders (TD, BMO, RBC) but smaller lenders that require additional work from the solicitor’s side to meet conditions for financing. Examples of such lenders are: FCT, FNF, Compushare, MCAP, Homeward Trust, Christian Credit Union or other private lenders.
2. If we need to purchase title insurance to comply with your lender’s mortgage terms or the real estate purchase contract: +$100,
3. Remote signing: if a video-conference is required to accommodate signing: +$100,
4. For sellers: if you request us to direct deposit your funds to your account rather than receiving a mailed cheque: +$100,
5. Any unanticipated issues regarding the transaction that require our attention will be charged at $200/hour plus disbursements incurred; these issues may include the following:
a. Dealing with writs, other debt payments, bridge financing;
b. Encroachments;
c. Compliance issues;
d. Power of attorney;
e. Signing/closing on weekends/statutory holidays;
f. Interest on late closings;