First-Time Home Buyer? Here's What You Need to Know

Buying your first home is exciting—but let’s be honest, it can also feel overwhelming. There’s a lot more to the process than picking the perfect place. From signing the offer to getting the keys, there are important legal steps that protect your rights, your money, and your future home.

As a real estate law firm, we’re here to guide you through the legal side of your first purchase with clarity and confidence. Here’s what you need to know.

📝 1. Review the Agreement Before You Sign

The Agreement of Purchase and Sale is a legally binding contract. Once it’s signed, you’re locked into the terms—so it’s crucial to have your lawyer review it before finalizing anything.

We’ll check:

• Are the conditions (like financing or inspection) clearly stated?

• Is the closing date realistic?

• Are there any clauses that could cost you later?

Whether it's a resale home or a pre-construction condo, we help ensure the contract protects you.

🧾 2. Understand Your Closing Costs (Beyond the Down Payment)

Many first-time buyers are surprised by what they owe on closing day. Beyond your down payment, you’ll need to budget for:

• Land Transfer Tax (with a rebate if you qualify)

• Legal fees and disbursements

• Title insurance

• Adjustments for utilities, taxes, or condo fees

We’ll give you a full estimate upfront, so you’re never caught off guard—and we don’t charge hidden fees.

🛡️ 3. Know What Title Insurance Covers

Title insurance protects you from unexpected issues with your property title, like fraud, unpaid taxes, or zoning problems. It’s a one-time cost, and most lenders require it.

We’ll help you understand what it covers (and what it doesn’t) so you can make an informed choice.

📑 4. Your Lawyer Handles the Legal Details

Once your offer is accepted, we:

• Review and finalize legal documents

• Coordinate with your mortgage lender

• Conduct a title search to ensure no outstanding liens or claims

• Transfer funds and register the title in your name

On closing day, we make sure everything is completed smoothly—so all you have to do is pick up your keys.

🏡 5. First-Time Buyer Rebates Are Real—and We’ll Help You Claim Them

If you’re a first-time buyer in Ontario, you may be eligible for:

• Up to $4,000 off your provincial land transfer tax

• An additional $4,475 off Toronto’s land transfer tax (if applicable)

We’ll ensure all rebate paperwork is submitted correctly, so you get what you’re entitled to—without delay.

💬 6. Questions Are Always Welcome

There’s no such thing as a “silly question” when you’re buying your first home. Whether you want to understand a line in your mortgage paperwork or need clarity on closing day procedures, we’re here for you every step of the way.