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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5 Brownspring Rd
Solid All Brick South Agincourt Well Maint Top To Btm 4 Bdrm Home. Incldng Hardwood Flrs & Newer Wndws Throughout, Frnt & Back Sliding Drs. Cust Fam Sz Eat-In Kit. W/O To Sun Filled Back Deck From Entrtnrs Sz Liv/Din Rms. Fully Fin Lwr Lvl Rec Rm W/ Wet Bar For Fam Parties, Incld...
Turn Key Opportunity, Live In, Tear Down Or Built Up! Very Good Investment! Renovated With Taste And Mind! Built-In Dining Room Furniture, Direct Access To Deep & Beautiful Zen-Like Landscaped Back Yard. Basement Features Include Office Area, Large Rec Room Extra Bedroom, 3 Pie...
Prime Location. Monarch Condos In The Heart Of North York. Unit Is Actually Located On 2/F (Above Street Level). Very Practical Layout, Bright Corner Unit, Opn Concept Design W/O To 22 Sq Meter Enclosed Terrace To Entertain Or Turn Into A Zen Garden From Lvin Rm Plus Lrg Balcony ...
Gorgeous Bachelor Walk To 2 Subway Stations. Unbeatable Downtown Location On Yonge St, Betweeen Bloor And Wellesley. For Investor Only, Lease Secured Until August 2021. Luxurious Privacy Of A Modern Building. 99 Walk Score, 98 Transit Score. Steps From U Of T, Wellesley Or Yonge...
Luxury Tridel Hullmark Condo At Yonge And Sheppard* Split Two Bedroom+Den Corner Unit With Fantastic Panoramic S/E View* Indoor Direct Access To Yonge & Sheppard Subway/ Whole Food, Rexall, Shops And Restaurants, Quick Access To Hwy 401* 24 Hr Concierge* Fabulous Facilities Inclu...
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...
A Contemporary Work Of Art In One Of The Most Affluent Neighborhoods. Approx 5,850 Sq Ft Of Living Space- One Of The Deepest Lot In The Area. Impeccable Details & A Stunning Floor Plan With No Wasted Space. Sparing 12' Ceilings. 4 Fireplaces And Outside Fire Pit. Top Of Line Jenn...
Prime Location. Perfect Starter Home Of For Those Looking To Downsize**. 3 Bedroom And 3 Washroom Town-Home In Desirable Ajax Community.This Family Friendly Home. Beautiful Gas Fireplace In Cozy Living Room, Close To Hospital, Shopping Centres, Bus Transit, Walking Distance To Th...
Detached Home In Quiet High Demand Area On Large Lot With Pond And Shed In Garden, Hardwood Throughout (Under Existing Carpet).Main Floor Laundry Room Finished Walkout Basement With Large Open Recreation Area With Wet Bar, Kitchen And 4 Pc Bath. Oversized Double Garage. Extended ...
The Liberties, A Wonderfully Located Penthouse Condominium In The Heart Of Toronto. Sun-Filled, South Facing Bachelor + Solarium, Which Can Be Used As A Bedroom. Conveniently Located W/Easy Access To College Park Mall, Loblaw's, Metro, Subway, Streetcar, Eaton Centre. Walk To U O...
Great Family Home,Gorgeous View Backing On Park.Sloane Bus To Woodbine Stn, Future Light Train To Yonge Line.Local Tennis Courts&Conservation Area.No Work Needed,Rdy 2 Move In.Spacious Bdrms,Excellent Closet Space,High Quality Fixtures&Appls.Hrdwd&Marble Flrs,Marble&Granite C'top...
Executive One Bedroom Condo, Fully Furnished, In The Historic Waldorf Astoria Hotel! Tastefully Decorated, This Lovely Suite Is Perfect For Visitors Or Business Persons Coming To The City And Looking For A Clean And Professional Space. Located Steps To Bloor St,Yonge St., Yorkvil...
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...
Brand New Never Lived In Unit At Daniels Lighthouse West Tower. One Bedroom With Floor To Ceiling Windows & Big Balcony, Open Concept Kitchen/Living Room Layout, Laminate Flooring All Over, Close To Gardiner, Walk From George Brown College, Loblaws, Ttc, St Lawrence Market, Water...
Welcome To Iconic Hullmark Center By Most Trusted Builder Tridel, Rarely Available High Level Se Facing 2+1 Den With Gourmet Kitchen, 9' Ceiling, Almost 1,000Sf Space, Huge Wrap-Around Window/Balcony Bring Abundant Natural Light With Breathtaking Views, Freshly Painted, Absolute ...
Multi-Generational Home Built With The Times In Mind. Every Floor Has Separate Heating Cooling Fresh And Hepa Filter, Separate Ac Panel, Separate Entrances. Whether You Have A Mother-In-Law Son In Law Brother In Law Or A Big Family This Is Built Exactly For That. Or You Can Enjoy...
One Bedroom + Den, Open Concept, High Floor , Clear Lake View Best Exposure In Building , In High Demand Downtown Toronto. Den Can Be Used As Second Bedroom .Lots Of Natural Light With South View. Great Amenities Inc Indoor Pool, Hot Tub, Basketball Crt, Gym, Yoga, Rooftop Garden...
Stunning 2 Bed+2 Bath Condo In In The Highly Desired Neighborhood Of Banbury-Don Mills! 4-Storey Building Built By Shane Baghai. Crown Molding Throughout. Across From Edwards Garden And Short Walk To Don Mills Trail, Banks, Shoppers Drug Mart, Restaurants, Library & Shops At Don...
Brand New Condo Beautiful Open Concept Suite (Bayview Viliage.) Boutique Building. Clear 6th Flr View (East), Lots Of Light/ Granite Countertop In Kitchen. Brand New Stainless Steel Appliances. Engineered Flooring. Walking Distance To Bayview Sheppard Subway, Bayview Village Mall...
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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.
