With the aid of a Mortgage Broker or your lending institution, we will determine the price range most comfortable for you. Financing options are vast and can be confusing so make sure you get all the facts.
Don't forget to consider the following moving costs.
The Costs of Moving
| Real estate commission |
Buyer agent commissions are traditionally paid for by the Seller through the purchase price of the property but depending on the terms of your Buyer Agency agreement; commission may be paid by the Buyer as a % of the sale price or as a flat fee. |
| Legal Fees |
They range from $600 to $2000 and possibly plus disbursements |
| Disbursements |
Include City Tax Certificate, City Zoning Report, City Engineering Report, Registry Office searches, deed registration., mortgage registration, copies, postage, long distance calls, etc. |
Ontario Land Transfer Tax*
* special taxes apply to non residents
|
| If under $55,000 |
.005 x purchase price |
| From $55,001 to $250,000 |
(.01 x purchase price) minus $275 |
| From $250,001 to $400,000 |
(.015 x purchase price) minus $1,525 |
| Over $400,001 |
(.02 x purchase price) minus $3,525 |
|
Toronto Land Transfer Tax*
* special taxes apply to non residents
|
| If under $55,000 |
.005 x purchase price |
| From $55,001 to $400,000 |
(.01 x purchase price) minus $275 |
| Over $400,001 |
(.02 x purchase price) minus $4,275 |
|
| Survey |
if no recent survey is available, a new one will cost approximately $700-$1000. Fees vary. |
| Adjustments |
Money owed, pre-payment of taxes, hydro, gas, etc. |
| Home Inspection |
Will cost approximately $300-$600 |
| Arranging the mortgage |
There is usually an appraisal fee of approximately $200. As well there may be an administration fee |
| Title Insurance |
Fees vary |
| The Move |
Depends on your choice of movers |
