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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301 - 373 Front St W
Bright And Spacious One Bedroom Unit Plus Den, Beautiful North West City View, 24 Hrs. Concierge, Steps To Cn Tower, Rogers Center, Min. To Gardiner Expwy, Financial And Entertainment District, Waterfront
A Remarkable Unique Urban Home W/ Exceptional Attention To Details Built By Nano Design Build. Spectacular Flow Of Natural Light Thanks To Oversized Multiple Windows, Skylights And The Courtyard In The Middle Of The House. High Ceilings With Lots Of Pot Lights. Walk To Subway An...
Completely Renovated, Ly Bedroom Townhouse In Multi-Million Dollar Neighbourhood With Best Schools In The City (Harrison Ps, Windfield Jhs And Yorkmills Clgt) Over $100K ++ Spend On Upgrades And Design One Of The Bets Lay Out In Complex. Custom Glass Shelves, Pot Lights, Througho...
Assignment Sale! Luxurious Modern Town Home Built By Madison. Best Location In The Heart Of Thornhill.This Beauty Includes 2394 Sqft , 3+1 Bedrooms & 4 Washrooms. 10 Ft Ceiling In The Main Floor , 9 Ft Ceiling On The 2nd & Lower Floor. Will Be Ready To Move In On January 2019. W/...
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...
Professionally Renovated Detached Home In A High Demand Family-Oriented Neighbourhood. Close To Everything You And Your Family Need - Shopping Centres, Major Hwy, Ttc, Restaurant, Schools, And More. Big Backyard. Beautiful Sunroom To Enjoy During Summer Time. Fully Finished Basem...
Stunning Sunfilled Spacious Corner Unit At U Condominium, Best Location, Adjacent To The Lush Grands Of The St. Michael's College Campus (U Of T), Steps From Yorkville, Subway And Many More Amenities, Unit Has 2 Balconies With Breathtaking View Of Cn Tower
3 Storey Modern Townhouse Built By Minto In Trafalgar And Dundas. Approx. 2000 Sf Living Space Backing To A Pond. High Ceiling. Clean Sleek Ultra Modern Kit. Cabinet W/ Quartz Countertop. Mudroom/Pantry Link Garage To Kit. Hardwood Floor & Upgraded Porcelain, Solid Wood Staircas...
Prime Location, Well Maintained, Multi Level Town House W/ High Demand Area, Steps To Ttc, 401 & 404 Hwy, Shopping Centers, Fairview Mall And Schools. Water & Cable Tv Incl. In Condo Fees, Spacious 3 Bdrm & 2 Bathroom Unit, Move In Condition, Fully Fenced Backyard
House Features Many Upgrades Thruout. 20 By 20 Marmo D Marfil Tile Thruout Main Floor. Darmaga Red Oak Natural Hardwood Flr In Living, Dining, & Family Room. Irpinia Kitchen 1700 Series Classic Maple, High Cabinets W/Moulding, Soft Close, Drawer Dividers. Wine Holder. Franke Sink...
Upscale Low-Rise Condo Situated On A Quite Treed Crescent In Hogs Hollow With Ravine Views. 1 Bedroom + Spacious Den, Which Could Be Used As Second Bedroom. Open Concept Kitchen. Bedroom And Living Room With Ravine Views. Conveniently Located Close To Yorkmills Subway And 401. ...
Perfect Investment Property With 2 Separate Apartments, Or Live In And Rent Out One Unit To Help With Expenses. (Legal Basement Apartment, Please See Attachment). Beautiful Tree Lined Street In Quaint Neighbourhood, Close To Go Station, Hwy 401, Shopping And Good Schools. Large, ...
Haven On The Bluffs, Located One Of The City Most Idyllic Neighborhoods.Fabulous 3 Bedrm & 2 Full Bathrm Unit, Approx. 850Sq Ft, Amazing & Large Terrace W/ The Stunning View To The Lake Ontario.Unit Equipped W/ High End Bathrms & Kitchen Finishes W/ Granite Counter Top.Area Ameni...
One Of Kind! Absolutely Stunning Custom Built Home Nestled In An Agincourt Enclave Backing Onto A Treed Area! Featuring 4700 Sf(Main & 2nd Flr)+2410Sf(Basement), Totaling Over 7000Sf Of Sprawling Living Space! Updated Kitchen W/Breakfast Area, Soaring Entrance Hallway With Grand ...
Well Maintained Multi Level Townhouse In High Demand Area, Prime Location To Hwy 401 And 404, Dvp, Shopping, School, Community Centre, Walking Distance, Water, Cable Tv Included In Rent, Large 3 Bedroom And 2 Bathroom Unit, Move In Condition, Backyard Fully Fixed.
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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 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.