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Thinking of buying a property?
Let me to help you find the home of your dreams...
One upon a time, buying a property was relatively straight-forward. Today, however, buying a home is a journey with many twists and turns...what questions to ask the notary, mortgage lender, builder or inspector? This information will alll be supplied to you.
The best way to save time and energy is to write down everything you are looking for in a new home. Let your imagination go! Then call me to discuss your goals...and make your journey toward your new home that much easier.
Closing Costs to Purchaser
Deposit cheque (certified) with your offer to purchase, which becomes part of the down payment.
Notaries' fees of approximately $1000 plus summary costs and all applicable taxes.
Adjustment of municipal taxes (January - December)
Adjustment of school taxes (January - December)
Oil costs is applicable (One full tank approximately 909 litres at current rates.
Transfer tax: 0.5% on first $50,000, 1% on the difference from $50,000 to $250,000. Tax is based on the sale price or evaluation and is payable six weeks after signing.
Appraisal and application fee for mortgage, which normally does not exceed $250 plus all applicable taxes. Banks usually waive this fee.
Building inspection, if requested, which normally does not exceed $600, plus all applicable taxes.
CMHC premium for high ratio mortgage .5 - 4.25% of face value plus 9% tax on the premium. CMHC charge for opening of a file is approximately $235.
Property insurance is mandatory and proof will be required at the signing.
If the purchased property is a condominium, the purchaser will have monthly condo fees to pay and might have an adjustment for reserved fund at closing.
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