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    What is the lawyer's role in a sale transaction?
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    The lawyer?s role consists of reviewing agreement of purchase and sale, responding to title requisitions, preparation of closing documentation, including Statement of Adjustments and Transfer, reviewing documentation provided by the purchaser?s lawyer to ensure the vendor?s rights are protected and that the documentation reflects the terms in the Agreement of Purchase and Sale. The vendor?s lawyer will also obtain mortgage statements, as required. The lawyer will exchange closing documentation with the purchaser?s lawyer, obtain funds and payout outstanding encumbrances, real estate commission, etc., from sale proceeds and provide net proceeds to clients. The lawyer is also responsible for providing the clients with a final reporting letter including a Statement of Account and Trust Ledger Statement.

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