Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Ontario Lawyers Who Do Agreement For Sale

REINteam

0
Registered
Joined
Aug 22, 2007
Messages
885
Hi all,

I`m at the Ron LeGrand event right now in Toronto, just chatted with legal expert Michael Hinchey and he gave me a list of lawyers who will do quick turn in Ontario:

1. Hinchey and Sertic
(Mr. Michael Hinchey)
203 MacNab St South
Hamilton ON L8P 3C8
905-525-1630
fax: 905-527-3686

2. McMillan & Dimitry Barristers and Solicitors
Mr. Dexter McMillan
1010 Hunter St East
Hamilton ON L8@ 1M5
905-522-2046
fax: 905-522-6446

3. Campbell Mihailovich Uggenti Barristers and Solicitors
Mr. Michael Mihailovich
220 - 1119 Fennell Ave East
Hamilton ON L8T 1S2
905-318-7717
fax: 905-388-6966

This is great news...good luck!
 
L

lanedry77

Guest
Guest
Hi fellow Quick-Turners,
From my experience here in Alberta, I would suggest that anyone interested in buying properties by using an agreement for sale (AFS) do the following;

- Contact all three of the above (good job and thanks for them Ray!) and interview them and discuss things like costs, and make sure you can work with them

- Ask each of them how many AFS purchases (not sales) they have been involved with. just make sure it`s more than zero or 1.

- Ask each of them if they know another lawyer in town that they would like to deal with that you can send your sellers to that will not kill the deal. THIS IS THE SINGLE MOST IMPORTANT THING ON THIS LIST
. If they don`t have someone to recommend, I would suggest moving on to the next of the three.

- Pick someone, and start buying!

The reason that #3 is going to be critical for your success is simple - you`re only half of the transaction, and if the sellers get bad advice from another lawyer that convinces them that the world will end by selling on an AFS, it doesn`t matter how good your lawyer is - you won`t do the deal.


Just my two bits to help.



Thanks,

David.
 

EdRenkema

0
Registered
Joined
Sep 18, 2007
Messages
1,230
QUOTE (REINteam @ Oct 29 2010, 02:13 PM) Hi all,

I`m at the Ron LeGrand event right now in Toronto, just chatted with legal expert Michael Hinchey and he gave me a list of lawyers who will do quick turn in Ontario:

1. Hinchey and Sertic
(Mr. Michael Hinchey)
203 MacNab St South
Hamilton ON L8P 3C8
905-525-1630
fax: 905-527-3686

2. McMillan & Dimitry Barristers and Solicitors
Mr. Dexter McMillan
1010 Hunter St East
Hamilton ON L8@ 1M5
905-522-2046
fax: 905-522-6446

3. Campbell Mihailovich Uggenti Barristers and Solicitors
Mr. Michael Mihailovich
220 - 1119 Fennell Ave East
Hamilton ON L8T 1S2
905-318-7717
fax: 905-388-6966

This is great news...good luck!

Thanks Ray
You are - da man!
 

trev

0
Registered
Joined
Dec 31, 2007
Messages
101
I thought Michael Hinchey would be a good person to have my lawyer talk to about AFS. Seemed logical. I saw him get up on stage twice with Ron Legrand telling us how you could use it. Just need to find a lawyer who is either old enough to know it and/or be open minded to look at it.
My own lawyer just happened to be both. He was just a little unsure how it would work today with changes to the registry system and such.
No Problem! I`ll give him the name of an Ontario "expert" I personally heard speak twice about how to use it.

Well, he may be an expert, but don`t send anyone to talk to him about it.

After 15 minutes with my lawyer (who was open to using it) he will not touch it.

According to Hinchey:

He would never recommend or assist anyone to purchase with AFS

As a lawyer you might as well turn yourself over to the law society and turn in your licence, because you`re probably going to get sued by your client when it goes bad and be disbarred anyway

He NEVER intended to promote the idea of buying with AFS

It is only a good tool for a seller in a recessionary market

Anyone else actually talked to this guy or done a purchase via AFS with him? Something isn`t right. Maybe my lawyer has it all wrong.
I haven`t talked to Hinchey myself. I did try, but only got as far as the gatekeeper from he--. She had no problem telling me she didn`t know what type of scams we (she plenty to say about other REIN members who had already called) were trying to pull buying with AFS, keeping financing in place, putting in RTO buyers, etc, and that she would have nothing to do with it

Guess I`ll try some others
 

REINteam

0
Registered
Joined
Aug 22, 2007
Messages
885
Hi Trevor,

Sorry to hear that...I know a few other members who encountered the gate keeper you speak of and I`m not sure what the solution is. However, we have a lawyer speaking next month in Ontario on the topic, Peter Cass: http://www.cassbishop.ca/ and he is familiar with AFS, does them, knows the rules, etc. Give him a shout and see what he can do with your current lawyer and getting them on the same page.

And one thing to note about the response from "the gatekeeper": If it is only good for a seller in a recessionary market doesn`t that mean that the buyer in that exact deal is still buying with a AFS??? So if a buyer can purchase with a AFS in a recessionary market b/c the seller is selling with a AFS wouldn`t that mean you can still do it in any market?? Just trying to sort out the logic...

Hope this helps!
 

trev

0
Registered
Joined
Dec 31, 2007
Messages
101
QUOTE (REINteam @ Dec 17 2010, 01:24 PM) Hi Trevor,

And one thing to note about the response from "the gatekeeper": If it is only good for a seller in a recessionary market doesn`t that mean that the buyer in that exact deal is still buying with a AFS??? So if a buyer can purchase with a AFS in a recessionary market b/c the seller is selling with a AFS wouldn`t that mean you can still do it in any market?? Just trying to sort out the logic...

Hope this helps!


You and me both

Thanks for the other lead
 

BenSanderson

0
Registered
Joined
May 11, 2009
Messages
172
Hi folks,

I though I should chime in with my own experience talking to Michael Hinchey.

This past week, I spoke to him directly about organizing a group consultation session with him to discuss the ins and outs of using AFS for Quick Turn. By the sounds of it, I must have been lucky to talk to him and not this `gatekeeper` I`m hearing about.

Although he was open to discuss the Agreement For Sale with a group of us `Quick Turners`, he was quite vocal about his scepticism toward doing Quick Turn in Ontario. He just couldn`t understand why anyone would walk away from $20,000 worth of equity in a balanced market. He also made it clear that he was not affiliated with REIN or Ron LeGrand and that he was a little perplexed as to why he had been `chosen` to be the expert on Ontario AFS. He does believe AFS to be a great tool for the investor to sell a property, but had serious reservations about buying with such an instrument (echoing what has been said above).

I`m starting to wonder myself if he`s the best one to be helping us with these types of transactions. I want someone to have a healthy understanding and appreciation for the creative nature of the Quick Turn business, and I`m starting to get the feeling that Michael has neither.

Thanks, Ray, for the lead on Peter Cass! I`ll call him this week and see what he might be able to do for us.
 

REINteam

0
Registered
Joined
Aug 22, 2007
Messages
885
At the end of the day the question to any lawyer you deal with is "when I bring you this deal can you close it". Doesn`t matter if he doesn`t understand why someone is walking away from equity...people do lots of things that are 100% unexplainable. Why do some people in BC move 5 times in 1 year paying realtor fees and transfer tax every time? Why do some people never pay their bills? Why do some people trash their own house? He doesn`t have to know why, he needs to be able to close the deal, that`s it!

Balanced market, heated market, down market...it doesn`t matter, people will always need to sell and some will never be able to conventionally or for some reason don`t want to...

And no, he is not affiliated with REIN™ or Ron LeGrand. However, he was a resource that understood the process, has done AFS and agreed to present the legalities of such deals in the province of Ontario. If he is willing to teach to a small group have him focus on getting the deal done, how to structure the deal, how to complete the deal and what pitfalls there might be...he doesn`t need to focus on motivation!

Best of luck and let me know how Peter works out. In the meantime we`ll see if we can chat with Michael.
 

PeggyDupont

0
Registered
Joined
Apr 18, 2010
Messages
13
Hello everyone - Happy New Year 2011!

I would appreciate your input as I'm looking for a lawyer doing AFS in Ontario. I know we have several names provided in this post but I was wondering if anyone was currently using or had been consistently using the services of a specific lawyer doing those types of deals on a reccurring and successful basis.

Thank you for your help!
 

EdRenkema

0
Registered
Joined
Sep 18, 2007
Messages
1,230
Given the experiences posted I certainly wouldn't advise using Hinchey. Ray posted several others & I would try them first. I think the approach used with a lawyer makes all the difference. Frequently lawyers often being the analytical type will think things through and offer financial advice regardless if it was asked for.

To me a lawyer is just an administrative person who understands the proper way to conduct a real estate transaction. Hinchey did a good job of telling us what to ask for, I think also their office got a boatload of calls from people asking for 'information' and obviously they are not a consumer help group they are an office conducting transactions. Go to that list and start asking for someone to conduct X transaction by an AFS, if they understand the form thats a good starting point.
 

PWZ

0
REIN Member
Joined
Apr 9, 2010
Messages
78
Hi Peggy, Trevor, Edward and Ben,



Could you please share which lawyers you are using now?



Ray,



Have you been able to compile a bigger list of AFS lawyers for members in GTA?



Thank you all in advance!



Penny
 

Aaron Moore

0
REIN Member
Joined
Oct 22, 2008
Messages
114
Some REIN members (and myself) work with Scott Pushman in Oshawa. See this post from Luke...



http://myreinspace.com/search/rein_members_only/Canadian_Quick_Turn_Real_Estate/108-18837-96212-Quick_Turn_Lawyer_East_of_GTA.html#96212
 

BenSanderson

0
Registered
Joined
May 11, 2009
Messages
172
I thought I'd weigh in again on this one...



I've been using Peter Cass exclusively for more than a year now and have transacted on seven deals with him representing me, two of which were Agreements for Sale, two Assignments, one private loan cash purchase with a later refinance, and two buyouts from my Rent To Own tenants. He's a great guy to work with - very knowledgeable and has a "let's figure out the best way to do this" kind of attitude.



He's been a great investment for me and I'm very lucky to have him on my team. Highly, highly recommended!
 
Top Bottom