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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Featured Listings
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1 Almejo Ave
Gorgeous,Light-Filled,2080 Sqf 3 Bd Semi-Detached Located In Rouge Woods, Quiet Street , Bright And Spacious Initially Model Home, Excellent Open Concept Design With Hardwood Flr., Oak Staircase,Gas Fireplace,Large Bedrs. On 2nd Floor With Hardwood Throughout. Master Retreat W/L...
Beautiful And Immaculate Mattamy Built Executive Home On A Premium Lot.Stunning Kitchen, 4 Bedroom Plus Den. Hardwood Floors Throughout. All Spacious Bedrooms. Interlocking Landscaping. Don,T Miss This Property In Heart Of Rouge.
Don't Miss This Updated And Super Spacious Thornhill Beauty. 1546 Sq Ft One Of The Largest Units In The Building. 2 Spacious Bedrooms, Large Living/Dining Room And A Den, 2 Full Bathrooms, Laundry With Built-In Storage Closet And Locker On The Same Floor. Parking For 2 Cars, Loca...
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...
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.
Make This Stunning East Facing 1 Bdrm + Den Suite Your Next Home In The Highly Desired Meridian Residences. Prime North York Location, Tridel Built, Steps To Yonge & Finch Subway, Viva, Ideal Living Space For Urban Professionals. Enjoy Excellent Building Amenities*Grand Lobby,24...
Boutique Condo In The Heart Of North York. Breathtaking Views From Your Rooftop Terrace. Walking Distance To Bayview Village Shppng Ctr, Pusateri's, Great Restaurants/Amenities. Offering Approx. 2,500 Sqft Of Indoor/Outdoor Living Space. Impeccable Finishes & Layout Design. 2+1Bd...
Must See! Turly A Model Home. Luxury Tridel-Built. One Of The Largest 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.
Assignment Sale, Brand New Building, Move In End Of 2019. A Plus Location, Transit, Library, Hospital, Shopping, Building, 24 Hour Concierge Service. Swimming Pool, Underground Parking, Terrace For Bbq, Large Unit, Large Balcony. Peace Of Mind Security And Safety Features.
Fabulous One Bedroom In The Highly Sought-After Burano Condominiums! Breathtaking City Views Of Downtown Core From Private Balcony. Floor To Ceiling Windows Allowing Abundance Of Natural Light Throughout.
*Location Location* Humberland Area, Great Schools(Public And Separate Schools Steps Away - Cardinal Carter Catholic High School, King City Secondary School, Near Shopping, Parks & Hwys. Transit Steps Away. In-Law Suite, Family Room With Fireplace & Califoria Shutters. Family Siz...
Assignment Sale, Brand New Building, Move In End Of 2019 Or Beginning Of 2020. A Plus Location, Transit, Library, Hospital, Shopping, Plazas, 24 Hour Concierge Service. Swimming Pool, Underground Parking, Terrace For Bbq, Large Unit, Large Balcony.
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...
Re Modeled, Amazing Flagstone Driveway, Walkways, Terrace. New Stucco, Renovated Open Concept, Spent Over 80K, Boasting New Hardwood Floor, Upgraded Bathrooms, Stairs,Fresh Paint, Exterior Lights, Gorgeous 12 X 22Ft Deck W/O From Dinning Rm. Kitchen With Breakfast Area. Finished ...
Gorgeous East Woodbridge Detached Home. Completely Renovated From Top To Bottom. Bright Modern Kitchen Open To An Inviting Family Room And Walkout To Spacious Backyard. Professionally Finished Basement Ideal For In Law Unit With 2Br, Kitchen, Family Room And Beautiful Bathroom.
Bright Condo Townhouse At Hendon Park- (Yonge And Finch). Two Bedroom W/Smooth 9' Ceilings, Stainless Steel Appliances, Natural Hardwood On Main Floor. Just Steps To The Finch Subway Station, Go, Viva, Hendon Park, Shopping And Restaurants. One Parking Spot & One Locker Included.
Haven On The Bluffs, Located One Of The Cities Most Idyllic Neighbourhoods, Cornr Unit, Stunning View To Downtwn And Lake Ontaro, Fabulous 2 Bdrm And 2 Washroom Unit, Approx. 840 Sq Ft With 82 Sq Ft Balcony, Unit Equip W/ High End Bathrooms & Kitchen Finishes W/ Granite Counter T...
Charming 4 Bedroom House, Main Floor Den, Walkout To Large Deck And Backyard From Kitchen, Side Entrance, Private Drive For 5 Cars. Close To Bathurst And St. Clair, Walking Distance To Shopping, Subway Transportation. Uffi On Main Floor. Tested And Found Clear Of Off Gasing. Home...
A Must See!!! Stunning Home!!!Won't Last.2 Renovated Ktchens W/Granite Counters,Backsplash,High End S/S Appliances, Ceramic Floors.2 Full Reno'd Baths, Hardwood Floors Throughout Main Floor, Open Concept, Shows 10++.Custom Built Closets In All 5 Bedrooms, New Windows And Pot Ligh...
Enjoy The Best Of City And Lakefront Living Inthis Stunning 1161 Sq.Ft 2 Bedroom + Den Condo Features 3 Walk-Out Balconies (212 Sq.Ft) With 180 Sw Lake Views. Open Concept Living/Dining, 2 Full Baths, Kitchen With Granite Counters, S/S Appliances, Large Breakfast Isle, Window Bli...
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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.
