Should I close on my Real Estate Transaction that lost value? Real Estate Law and more with Rob Sheldon

The Money Mindset Mentoring Podcast

Steve Hamoen is joined by Robert Sheldon from Travers Law to explore the intricacies of closing transactions during market shifts. They discuss the legal struggles and market impact on real estate transactions, focusing on the differences between new construction and resale. The conversation delves into the complexity of new build contracts and the consequences of not reviewing them. They highlight how personal circumstances affect contract obligations, the role of deposits, and builders' perspectives. Strategies for effective closings, the necessity of legal advice, and the value of experienced representation are emphasized. The episode concludes with insights on navigating minor disputes and a service-oriented approach in legal practice.

About Robert Sheldon

Links https://www.traverslaw.ca/lawyers https://www.linkedin.com/in/robert-sheldon-16135146/?originalSubdomain=ca https://www.instagram.com/robsheldon.traverslaw/

About:

Robert completed his undergraduate degree at Dalhousie University (Halifax, NS), his Juris Doctorate at the University of Windsor and was called to the Ontario Bar in 2013. While at Windsor Law, he was the recipient of the 2011 Scotiabank award in Trusts and achieved the highest standing out of the 2011 University of Windsor Mediation Services Clinic interns.

After a distinguished career in public service, Robert decided to hang out a shingle and opened Sheldon Law, practising real estate, wills and powers of attorney and corporate law in Guelph, ON, with much success. In July 2022, Robert merged Sheldon Law with Paquette Travers (now Travers Law).

There are three cornerstones of Robert’s practice: dependability, respectfulness and faithfulness. It is these tenets that drive his practice. Legal services must have value. Legal services must address your needs. And legal services must revolve around you. Providing an efficient experience that addresses your needs is his top priority.

When not closing real estate transactions, Rob spends much of his free time with his wife, Ashley, their two sons, Rohays (“Ro-Ays”) and Lachlan (“Lock-Luhn”), and two dogs, Kinch and Leo. To stay active, Rob enjoys running and rock climbing in Guelph, where he and his family have resided for the last ten years.

About Travers Law

Let Travers Law represent you if you require legal assistance to buy, sell or refinance a home, start a corporation or draft your wills. The experienced lawyers and team at our firm will help you navigate complex legal processes while keeping your interests protected.

Our offices are located in four cities - Kitchener-Waterloo, Guelph, Cambridge and Milton. What’s even better is that we are not limited to these locations - we can close a transaction anywhere in Ontario. You don’t have far to travel from your home or business to receive the dedicated care your legal matters deserve. Our mission is to put the needs of clients above all else. Their best interest is our priority and at the heart of everything we do.

(0:00) Introduction and the importance of closing transactions during market shifts (1:17) Introduction of guest Robert Sheldon from Travers Law (2:06) Legal struggles and market impact on real estate transactions (3:51) Legal differences between new construction and resale (4:12) Understanding the complexity of new build contracts (7:22) The consequences of not reviewing real estate contracts (8:28) How personal circumstances affect contract obligations (9:13) Enforceability and the role of deposits in real estate contracts (14:04) Builders' perspectives and pitfalls in new construction contracts (19:00) Strategies for closing transactions effectively (27:57) The necessity of legal advice in real estate dealings (31:09) Risk comparison and issue materiality in real estate contracts (37:55) Navigating small claims and minor disputes in real estate (41:40) The value of experienced legal representation in real estate (44:00) Emphasizing a service-oriented approach in legal practice (46:43) Sponsor: Travers Law (47:06) Conclusion and closing remarks