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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213 Timberbank Blvd
The One You've Been Waiting For! Perfect Locat In Beaut. Family Neighborhood! Move Right In! Home Has It All, Incl. Magnificent Master W/Endless Space, 7 Bdrms,4 Bthrms & 2 Eat-In Kits! Sep. Side Ent. To Complete Liv. Quarters. Perfect Place To Live, Relax & Entertain W/Out Leavi...
Live In Prestigious North York Area! Bright & Spacious 1700 Square Feet, Huge Master Bedroom With Sitting Area And En Suite! Magnificent Building Offers All Luxury Amenities - Close To Hwy's And Everything Toronto Has To Offer. Don't Miss Out On This Opportunity. Condo Has Direct...
Welcome To The Prestigious 7 Helen Ave, One Of The Most Sought After Streets In The Area. This Beautiful 100 Ft South Facing Lot, Boasts 7200 Sq Ft Of Total Living Space. It Is Conveniently Located Mins Away From Hwy 407 & 404, Ttc, Go Train, Some Of The Finest Golf Courses And M...
Fabulous Two Bedrooms Bungalow In The Danforth Village Neighbourhood. New Roof, New Addition Mudroom W/ Sky Light. Beautiful Backyard W/ A Big Shed, A Short Walk To Transit, Farmers Market, Shops And Restaurants. Appointments Between 9Am To 8Pm Everyday.
Breathtaking Waterfront Condo, Featuring 800 Sq Ft Living Area, Plus 54 Sq Ft Terrace W/Panoramic View Of Toronto City Skyline, Parks And Lake Ontario. *5 Star Amenities Gym, Spa, Pool, Theatre, Golf Sim, Cyber Lounge, Guest Facilities. Sky Lounge, Minutes To Down Town Toronto, P...
1 Bdrm Unit W/Blcony & 2Walk-In Closet @The Modern Building, Be Surrounded By Young Professional, Hardwood Floor Throughout,Open Concept ,Inviting Foyer W/Walk In Closet,Combined Living And Dining W/Sliding Door To Big Balcony East/South View, Bdroom With Huge Walkin Closet Appro...
Gorgeous Semi In Prestigious Cachet Community, Built By Aspen Ridge. Excellent Lay Out With Cathedral Ceiling, Solid Oak Staircase, New Quartz Kitchen Counter Top, Maple Hardwood On Main Floor And Quality Laminate Flooring On 2nd Floor And Basement. No Carpet. Generous Room Sizes...
World On Yonge By Liberty Development. 1 Bedroom + Den, 1 Underground Parking Space. Stainless Steel Appliances, Open Concept 9 Foot Ceiling. North West View, 622 Sq Ft + 40 Sq Ft Balcony. Granite Kitchen Countertop, State Of The Art Facilities. Indoor Pool, Fitness Room, Theater...
Desirable Exec Living In This Fully Furnished Rarely Offered End Unit Townhome. No Details Missed. This Grand Gem Boasts Many Custom & Tech Finishes To Create A Masterpiece That Equals Comfort. Fall In Love W/This Home Every Day. Filled W/Natural Light. Elegant Kit W/ W/O To Excl...
Stunning 2 Bdrm South Facing Condo! (Splitlayout) Located In Richmond Hill, Yonge And Hwy 7! Features Lrg Master Bdrm, 2 Oversized Parking Spots And Locker! Steps To Langstaff Go-Station And Hwy 407! Shops, Cafes, Across The Street! Elementary School, Movie Theatres, Large Park ,...
Location, Location ,Location. Upgraded 3+1 Detached In Quiet Fam. Court By Bronte Harbour! Across From Village Wood Park & Trails! Steps To Lake+ Village Shops You Will Be Impressed W/ Great Curb Appeal & Aggregate Double Deep Drive/Walkway/To The Brand New White Granite Kit. Loa...
Absolutely Gorgeous Home For An Extended Family. Main Floor Kitchen Renovated In 2012. Kitchen Has Granite Counter. Second Floor Fully Renovated Nov. 2015 With Hardwood Floor And New Window. Breakfast Area With W/O To A Very Large Deck For Party Lovers. This Is Your Rec Room Wit...
Location, Location, Location! Excellent Walk (74) & Transit (71) Score. Bayview Manor By Daniels. 1417 Sq Ft Of Comfort. Open Concept Kitchen/Living/Dining, Perfect For Entertaining. Pull Back The Shutters & Enjoy South Facing View Of The Park. Easy Access To 401/Dvp/404.Walking ...
Turn Key Charmer On Massive Lot In Great Location! Old Meets New In This 1 1/2 Storey Home With Extensive Upgrades Throughout! Potential Rental Income Or In-Law Suite! High Ceilings, Large Windows In Principal Rooms, Lovely Original Baseboards And Trim, New Laminate Flooring, 200...
Beautiful West Facing Unit In A Boutique Building. Only 6 Units Per Floor. Fridge And Bbq On Balcony, Large Locker, Party Room And Sauna On Main Floor. Close To Greektown, Parks, Schools, Shopping, Downtown, Transportation, Subway, Nice Neighborhood, Spacious Open Balcony Overloo...
South Facing Two Bedroom Unit, Enclosed Balcony (Can Be Converted Back To Open). Lots Of Storage Space, Large Living, Dining Space And Eat In Kitchen, En-Suite Storage With Water Line Hook Up For Laundry, Built Ins And Walk In Closet In Master Bedroom. Convenient Location To Ttc...
Location! Beautiful Open Concept W/Breathtaking Views! Stunning Apt Updated To Perfection! Maintained W/ Pride! Approx.1500Sqft. Quartz Counter Top In Kit & B/R's, Marble Shower & Flrs In Mstr B/R. His/Her W/I Closet. Extra Rm For 2nd B/R Or Office/Flex Space. Tons Of Great Ameni...
Beautiful End Unit Townhouse, Shows Like A Semi! Neutral Colours Throughout, Pride Of Ownership. Open Concept Energy Star Home With A 9 Ft Ceilings In Living, Dining And Kitchen. Garage Entrance From House. Professional Landscaped Enclave. Common Fee Of $182.12 Includes Snow Rem...
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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.
