Here you will find many valuable tools to aid you in the process of buying and selling real estate.
Please feel free to contact me via telephone or e-mail at any time and I will be pleased to help you with your real estate needs.
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3 Battenberg Ave
Welcome To 3 Battenberg Avenue!Professionally Landscaped, Modern 3 Storey, 4 Bdrms, 4 Baths W/Priv Driveway, Plenty Of Parking And Detached Garage Located In The Prime Beaches Neighbourhood And 600 Metres From The Boardwalk! Open Concept Main Floor With Gourmet Kitchen, Stainless...
Welcome To A Luxurious Brand New Custom Build Home In The Sought After Area Of Parkview Hills. No Expenses Spared. Stunning Residence W/High-End Finishes, Chef Inspired Kitchen W/ Quartz Waterfall Island & Butler's Pantry, Hickory Hw Flr, Family Rm With W/O To Large Deck, Custom ...
Executive Tidel Built Townhouse In The Heart Of North York! Freshly Painted, Brand New Custom Hardwood Fls(M/F), Quarts Counter Top, Backsplash,10Ft Ceiling Height( M/F), Fireplace, Crown Moldings, Direct Access To Two Parkings And Condo Facilities From 2/F, Huge Master Bedroom W...
Opportunity Knocks! Lovingly Maintained By Current Owners For Over 20 Yrs! Raised Bungalow In Desirable Parkwoods Community.This Former 4Bed (Ez Converted) Offers Spacious Floorplan W/Hardwood T/O.Quaint Sunfilled Eat In Kitchen.Bsmt Boasts 2 Sep Entrances,Huge Windows,Wood Burni...
1 Bedroom Suite On The 23rd Floor, Unobstructed View Of The City, Yonge & Bloor Area. Bright And Spacious Suite, With Lots Of Natural Light. Hardwood Floors. Outdoor Pool. Fitness Centre. Easy Access To Yorkville, Ttc, U Of T, And Museum. Total Sqft 645 (Interior 570 +Exterior 75...
Very Large One Bedroom Bsmt Unit Available In The Prestigious Rosedale Summerhill Neighbourhood! Huge Above Grade Windows Fill The Space With Light - Does Not Feel Like A Basement! Conveniently Located By The Popular Summerhill Market, Coffee Shop, Specialty Foods, Rosedale Park....
Spacious, Cozy And Clean Lower Level 2 Bedrooms Apartment With Walk-Out Entrance In The Coveted St. Andrews Neighborhood. Family Oriented Street. Bus Stop At The Door. Very Convenient Location, Safe Neighborhood, Best Schools In The Area - Owen Ps, St Andrew's Ms, York Mills Ci. ...
N1 Condos At Cityplace! Bright & Spacious, True 1 Bedroom + Den Condo W/ Parking In Heart Of Downtown. This Sun Filled Suite Boasts Over 600S.F. Of Living Space. Situated On A High Floor With Beautiful Unobstructed Lake & City Views.Upgraded Kitch W/ Granite Counters, Ensuite Lau...
Lovingly Maintained Two Bedroom Basement Apartment Available For Immediate Possession In Desirable Amberlea! Comes With One Parking On The Driveway. Only One Minute Walk To The Nearest Bus Stop. Groceries, Restaurants, Pickering Town Centre And The 401 Are Only One Minute Drive A...
Haven On The Bluffs, New Condo, High Demand, Prime Location. Upgraded Kitchen And S/S Appliances. Steps To Ttc, School, Shopping Centres. Minutes To Scarborough Bluffs, Building Equipped With Party Room, Gym, 24Hr Concierge And Many More. Must See.
Prime Location, High Demand Area, Open Concept 1 Bedroom With Private Balcony, Nw View From The Balcony, Close To Scarborough Bluffs, Building Is Equipped With Gym, Party Room, 24 Hr Concierge. Must See
Luxurious Three Years New Condos Built By Menkes. Excellent Layout Of 1+1 Den Unit. Unobstructed Magnificent View Of The City And Cn Tower. Spacious And Bright. Open Concept, High End Modern Finish With All S/S Appliances, Large Balcony. Superb Location, Walking Score 96, Steps T...
Stunning All Brick Detached Home In Saught After Prestigious Neighbourhood Of Wexford. Beautiful Tree Lined Street. Family Oriented Quiet Neighbourhood. 3 Bedroom Upstairs And Extra Large 2 Bedrooms In The Basement. Separate Entrance To Basement. 2 Kitchens In The House. Newly Re...
Super Spacious Bachelor At Yonge And Bloor, Luxurious Casa Condo. 486 Sf (431 + 54 Sf) Studio With Open South View Of Toronto Skylines. Floor To High 9' Ceiling. Wall To Wall Window With Walk-Out Balcony. Steps To Yonge & Bloor Subway, Shops, Restaurants, Supermarket, Yorkville,...
Move In Condition 3 Bdrm, Mins To Ttc, Dvp, 401, Downtown, Shops, Schools! Building Loaded With Facilities Indoor Pool, Sauna, Gym, Party Room, Etc. Rent Includes Fridge, Stove, Heat, Hydro, Water, Cable Tv, Building Insurance, Underground Parking, Etc. Underground Parking Availa...
Large 1 Bedroom Plus Den W/ 9.5 Ft Ceiling & Bright Courtyard View At St.George Mews. Steps To The St George Subway & U Of T. Short Walk To Yorkville, Shopping, Museums, Art Galleries & Restaurants. Amenities Including Patio W/ Bbq, Party Room & Exercise Room. Upgraded Laminate F...
Beautiful, Bright, Spacious Open Concept Home. Close To Good Schools, Park, Restaurants, Bars, Cafes, Shopping, Close To Dufferin Mall And More. Minutes To Subway Station And 24 Hours Ttc. Great Location To Live In. Bsmt Is Not Included. 2/3 Utilities. 1 Month Notice Before Move ...
Furnished 1 Bdrm+Spacious Den. Located In The Heart Of Etobicoke Trendy Islington Village. 9 Foot Smooth Ceilings, Open Concept, Kitchen With Eat-In Quartz Countertops, Filtration System Upgraded Backslash, Engineered Hardwood Flooring Throughout. Overlooking South West View, Bal...
Convenient Location! Luxury Condo In The Heart Of North York City Centre. Total 692 Sq.Ft. Spacious One Bedroom Corner Unit With Huge Windows. Bright, Open Concept Living/Dining Space, Steps To Subway Station, Supermarket, Theatre, Government Office, Banks, Shops & Restaurants. ...
Welcome To Montage In The Heart Of Downtown! This Bright & Spacious 2 Bedroom Condo Features Over 800 S.F. Of Living Space(783Sf +35Sf), 2 Separate & Self Contained Bedrooms With 4Pc Ensuite Wshrms & A W/I Closet. Recently Renovated, New Embossed Flooring For The Natural Wood Loo...
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Closing Cost Overview
Closing costs, ranging from 1.5% to 4% of selling price, are the legal and administrative costs you will need to pay when your house closes. In addition to closing costs, there are other expenses and/or events that may require a cash outlay before, on or after your house closes. We will outline these in detail to ensure these often unexpected costs do not sneak up on you.
Cash outlays required before your mortgage closes
Home Inspection Fee. It is highly recommended that you contract a home inspection as a condition of your Offer to Purchase. A home inspector will assemble a report on the condition of the home for a fee of around $500, depending on the complexities of the inspection.
Deposit. A deposit that counts towards your down payment is required when you make an Offer to Purchase. The deposit may amount to 5% of the purchase price, which is the minimum down payment percentage in Canada.
Costs financed in your mortgage
Mortgage default insurance, or CMHC insurance, is not normally considered a traditional closing cost as it is added to the total mortgage you require and amortized over the life of your mortgage. I have chosen to include it here to point out the major difference between it and traditional closing costs: it does not require a cash outlay upon closing.
Mortgage default insurance. If you purchase a house with less than a 20% down payment, you will be required to buy mortgage default insurance, commonly referred to as CMHC insurance. This protects the lender in the case the borrower, defaults on the loan.
Mandatory closing costs covered by the home buyer
The following is a list of closing costs that are incurred by the home buyer
Land Transfer Tax. Calculated as a percentage of the purchase price of your home, all provinces have a Land Transfer Tax (LTT) payable on closing, with the amount varying in each province. Some cities, such as Toronto, also have a municipal LTT.
Legal Fees and Disbursements. You can expect to incur a minimum of $500 and may go up to $1000 (plus GST/HST) on legal fees, which account for the preparation and recording of official documents. Find a residential real estate lawyer or contact Nick Ignatiou direct for a list of real estate lawyers that his Clients have used.
Title Insurance. Today, most lenders require title insurance to protect against losses in the event of a property ownership dispute. This is purchased through your lawyer/notary and costs $100 - $300.
PST on CMHC insurance. Though CMHC insurance itself is financed through the mortgage, PST on the insurance must be paid in cash at the time of close.
The following is a list of closing costs that are incurred by some home buyers as they are only applicable to certain properties
Septic tank. If the house has a septic tank, it should also be tested to ensure it is in good working order. Once again, you can negotiate the cost with the previous owner and list it in your Offer to Purchase.
Water Tests. If the home has a well, you will want to test the quality of the water and ensure there is an adequate supply, as well if the water is potable. You can negotiate these costs with the previous owner and list them in your Offer to Purchase.
Estoppel/Status Certificate Fee. A certificate fee may be payable if you are buying a condominium or strata unit, and could cost up to $100.
Mandatory closing costs often covered by the lender
Appraisal Fee. An appraisal, which is an estimate on the value of your home, is often covered by your mortgage lender. An appraisal is performed to certify the lender of the resale value of the home in the case you default on the mortgage. The cost is usually between $250 and $350.
Other costs to consider
Property Insurance. Property insurance, which covers the cost of replacing your home and its contents, must be in place on closing day. This insurance is often paid in monthly or annual premiums.
Prepaid Utility Bills. You may need to reimburse the previous owner of your property for prepaid costs such as property taxes, utilities and so forth.
Property taxes. Property tax is calculated as a percentage of your home value, varies by municipality and must be paid each year. The residential property tax rate in Toronto for example is 0.83%, and on a $400,000 home, would be equal to $3,320 per year. You may need to reimburse the previous property owner if he/she has already paid property taxes for the full year. You are also given the option to set-up an automatic payment plan with your lender. Your lender will set up an account for you, collect an additional $277 per month ($3,320 / 12 months) and then pay property taxes on your behalf. Though by no means necessary, some homeowners find this service extremely valuable for budgeting purposes.
Closing Day
Closing Day is the day you finally take legal possession of your home. It's important that the bulk of your administration is completed by this point including transferring your down payment to your lawyer. Transferring down payment funds, especially from your RRSP can take time, and should be done several days before close.
On closing date, the following events will take place:
Your lender will provide the mortgage funds to your lawyer/notary.
You must provide, your down payment less the deposit, to your lawyer/notary along with the closing costs.
Your lawyer/notary pays the previous owner, registers the home in your name, and gives you the deed and keys to your new home.
