| Everything has gone smoothly and now it's time to plan
for moving day. But there are still costs that you should consider.
Lawyers
To complete your real-estate transaction you will need to hire the services
of a lawyer who specializes in closing real estate purchases.
Usually try to hire a lawyer recommended by family, friends, or me to
recommend one.
I will forward all the required paperwork to your lawyer.
What will my closing costs be ?
Legal Fees
The lawyer fees is usually between $400 - $600 plus other standard charges
for disbursements such as searches, photocopiers, couriers, mortgage arranging
costs.
The total average amount that you can expect to pay for legal fees is
around $1200, but call your lawyer who will give you an exact price for
closing your deal.
Mortgage Fees
Some financial institutions or brokers charge an administrative fee for
arranging new mortgage, confirm this with your home lend er..
Adjustments
You may have to pay for adjustments on property taxes, interest on your
mortgage, or condominium fees.
Land Transfer Tax
This is a fee payable by the purchaser to the Provincial Government and
is based on the purchase price of your home.
Click here to calculate the land transfer
tax. |
