Financing will comprise a significant component of nearly every real estate transaction you handle. Acting on behalf of a purchaser in a residential purchase transaction is somewhat of a “2 for 1 deal” for you as lawyer. In almost every residential transaction, not only will you act on behalf of the purchaser, but also on behalf of the purchaser’s lender.2 This paper discusses your role in the residential mortgage financing process and will review the steps and requirements to follow to ensure your files proceed smoothly.
This article, entitled Residential Mortgage Financing, was written by Karen Yolevski of Basman Smith LLP on May 11, 2011, for the LSUC New Lawyer Practice Series-Real Estate.
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