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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1712 - 330 Alton Towers Circ
Exceptional Unit With Designer Renovation W/2 Bedrms Plus Solarium, Executive Corner Unit With Oversized Balcony! Bright, Functional Layout, Split Bedrms W/Ensuite Bathrm., Features Top Quality Finishes Throughout Including Upgraded Kitchen (Lots Of Storage), Quartz Countertop, L...
Large Family Home On Desirable Tree-Lined Street, With 4+3 Bdrms,4 Bathrms & 2 Eat-In Kitchns! Live In & Investment Property All In One W/Separate Private Side Entrance To Complete Living Quarters. Home Has It All, Incldng Magnificent Mastr W/Endless Space, Perfect Place To Live,...
Cozy 3 Bedroom Freehold Townhome In Demand, 'Maple' Location, Walking Distance To Elementary School, Parks, Close To Hwy 400, Go Station Roof Was Done In 2016. Great Home For New Buyers!
Must See! Turly A Model Home. Luxury Tridel-Built. One Of The Longest Corner Units. Approx 1330 Sqft. Lots Of Upgrades Plus 2-Owned Parking And Owned Locker W/ Maintenance Fee Of 13.16/Mth. Walk To Scarborough Town Centre, Ttc, Mins To Hwy 401. Great Recreation Facilities.
Enjoy Living In Prestigious Bayview Village. Sunny Delightful Home On Quiet, Friendly Neighbourhood, Renovated To Move In And Enjoy, New Hardwood, Fresh Paint, Main Flr Laundry, Mature Garden, Huge Windows, Deck. Enjoy Walking To Bessarion And Bayview Subway Stations, Bayview Vil...
La Belle Maison-Lux, Cust. Built Res. In St Andrew Winfield's. 24000 Sq. Ft Res. Comb Old Artisanship W/ 21 Cent. State Of Art Lux. Amen, Fyr, Marb Strs, Breathtaking Balustrades & Ceiling Motifs Transfer To 17 Cent. France. Feats Uniq Architect Craft Carved Limestone Ext. Sistin...
Spacious South Facing Unit, Big Bedrooms, Master With 3 Pc Washroom And Walk In Closet, Eat In Kitchen, Great Living And Dining Space, H/C Water Line Connection For Laundry In Place For En-Suite Usage. Convenient Location To Ttc Bus And Subway, Highway 401, Yorkdale Shopping Cent...
***Original Owner***, First Time Offered, The Garnet Suite Model, Spacious Unit Facing West, Huge Master Bedroom With 5 Pc Ensuite, Walk-In Closet. Solarium, Family Rm. Loads Of Amenities, 5 Tennis Courts, Squash, Racket, Badminton, Ping Pong, In/Out Pools. 24 Hr Guard House !!!!...
Live On The Top Floor Of The Platinum East Building! Penthouse Unit * Very Large 2 Bedroom Plus Solarium W/ 2 Full Washrooms * Newly Painted, Renovated Kitchen. Master Bedroom W/Walk-In Closet. Laminate Flooring Throughout, No Carpet * Full Amenities Indoor Pool, Tennis Court, Gy...
Luxury Bungalow In Ravine Location, 150 Ft Frontage, Open Concept 24X30 Ft Big Room, Hardwood, Pot Lights, Quartz Counters, 200 Amp Panel, Combi Boiler With Indirect Hot Water Tank, Steel Rads, New Kitchen Plus 4-3 Piece Bathrooms, New Doors + Windows, Main Floor Laundry, Separat...
Open House Sat & Sun 2-4Pm Totally Redone W/ Permits 2-Storey 4 + 1 Bdrm Spectacular Home With Modern Finishes W/Ingrd Pool. -2 Bd Rm Bsmt Apt (Perfect For In-Law Apt) Laundry On 2nd Flr! Pot Lights Thruout W/ Outdoor Sensors! Wrought Iron Railings. Stamped Concrete (Around Pool)...
Spacious Renovated House For Large Family With Income Potential. Hardwood Floors Throughout. Custom Kitchen With Granite Countertop & Family Size Eating Area. Main Floor Laundry. W/O To Large Deck & Side Patio. Direct Access To Garage. Sitting Area On 2nd Floor Use As Den Or Offi...
Bright South-East Facing 1 Bedroom, Views Of Cn Tower & The Water, 9 Ft Ceiling With Floor To Ceiling Windows. Central Location, Walking Distance To Waterfront, Cn Tower. Close To Sobeys Grocery Store, Restaurants & Banks, 27th Floor Sky Lounge, Tenant Insurance/Key Fob Deposit. ...
Location Location!! Semi-Detached House In Sought After Neighborhood Of Berczy. Top Ranking School Area Pierre Trudeau H.S & Stonebridge P.S Hardwood Flooring Throughout. 3 Large & Bright Bedroom. Park 3 Cars. Walking Distance To Move-In Condition - Clean & Well Maintained
Family Oriented/High Demand Area In Prime Etobicoke. Professionally Renovated From Top To Bottom. This House Backing Onto Quiet Park. 2 Extra Large Bedrooms In The Basement. Upstairs May Convert To Original 3 Bedroom Condition If Needed. Exterior Waterproofing Has Been Done. 200A...
Outstanding Investment Opportunity In South Riverdale. Very High Exposure, Corner Building With Commercial Storefront And Two Residential Apartments. High End Kitchen, Heated Floor In Washroom On Second Floor. Move In Condition Turn Key.
Fantastic Location W/Practical Layout & Tasteful Design Perfect For Entertaining And Family Living.Executive Home In High Demand Willowbrook Neighborhood.Fully Renovated 4 Bdrms,4 Wshrms,New Open Concept Kitchen W/O To B/Y.Cozy Family Room. Large, Bright, Finished Bsmt W/2 Bdrm, ...
All New Completely Reno'd Town Home From Top To Bottom In Prime German Mills Area. Enjoy All New Chefs Kit W/ Breakfast Island That O/Looks Cozy Parkette. W/O Bsmt. New S/S Appliances. New Flrs & Paint. 3 New Bathrms. All New Light Fixtures. New Led Pot-Lights, Newly Laid Grass &...
Waterclub Elegant Urban Condo In The Heart Of Toronto's Harborfront With 9 Ft. Ceiling, Floor To Ceiling Windows Spanning The Entire Unit. This Bright High Floor Unit Has Stunning South Facing Unobstructed Panoramic View To Lake.Fabulous Facilities.24 Hrs Concierge.Amazing Downto...
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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.
