Yet the excitement and emotion of buying a new home can sometimes overshadow the fact that your home purchase also means entering into a complicated legal agreement. Chances are, it will also be the largest financial investment of your life. Due to the complex legal aspects involved in buying a new home, it is strongly suggested that home buyers consult with a lawyer before signing on the dotted line. When you buy a new home, the contract, or the signed Agreement of Purchase and Sale document, between you and your builder is your assurance that you will receive exactly what you have purchased, at the price that you have agreed to. It is also the builder's assurance that you will follow through to the end with the purchase.
Some home buyers sign the contract first, and then take it to their lawyer for review.
By this point, however, it is too late for the lawyer to suggest any modifications or changes. Alternatively, make your offer conditional on your lawyer's favourable review. It is sometimes wise, and less costly, to agree with the builder on price and terms before involving a lawyer. The lawyer will look for certain clauses which include information on restrictions and obligations that may affect your rights and responsibilities as a home owner. Typically, clauses may mention the need to bus students to the nearest school.