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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1410 - 2050 Bridletowne Circ
Bright And Spacious 3 Bedrooms Corner Unit With Magnificent Views In Upgraded Building. High Demand, Excellent Location. T.T.C. At The Door, One Bus To Subway Station, Easy Access To 401 And 404. Steps To School, Library, Park, Shopping Mall And Other Amenities. Renovated Unit Wi...
Cozy And Bright Unit With South Facing Windows, 9 Ft. Ceiling, Designer Hardwood Floor, Upgraded Kitchen With Caesarstone Counter Top And Island, This Unit Also Can Be Rented Furnished At $2200, Excellent Location Near Bayview Subway Station, Hwy 401, Very Close To All Amenities,...
N1Condos At Cityplace! Spacious, True 1 Bdrm+ Den Condo With Parking In Heart Of Downtown. W/ Over 600 S.F. Of Living Space, This Sun Filled Suite Is On High Floor W/ Beautiful Lake & City Views. Upgraded Kitch W/ Granite Counters, Ensuite Laundry, 4 Pc Wshrm, Parking & Much More...
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...
One Of The Fastest Developing Area In Gta! Canada's First Smart Hospital Is Opening Soon & 6,000 Employment On The Way! Great Community Easy Access To Major Hwy's. End Unit Townhouse W/Lots Of Upgrades. Sidings 2017, 4 Car Drwy, 1940 Sqft Living Space, Walking Distance To Elem. S...
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...
Exceptional Wexford/Maryvale Bungalow! Rare Offering Small Enclave Of Home Off Of Pharmacy. Huge Lot 75X130. Live In It, Renovate It Or Build It! This Home Fits All Your Needs! Investor, First Time Buyer, This House Is A Great Starter. Thousands Spent In Reno Inc. Windows, Doors,...
Be The First One Living In Newly Renovated Unit! Immediately Available, Price Includes Internet And Parking, Convenient Location Close To Eglinton, 2nd Bedroom Can Be Used As Living/Dining Room, Bright And Modern Interior, Huge Walk-Out Deck From Kitchen, Enjoy Sun-Bathing In Pri...
2 Years Old Prof. Designed Modern Family Home In Prestigious Cliffside Area, Extra High Ceiling Simply Stunning, High End Kitchen Cabinets. This Unique Full Brick Home Has Everything You & Your Family Needs. 3 Skylights, Upper Flr Laundry, Very Convenient Location. 15-18 Mins To ...
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...
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 Major Hwy's And Everything Toronto Has To Offer. Don't Miss Out On This Opportunity. Condo Has ...
Live In Luxury. Brand New Semi Back And Side Into Ravine. Quality Built Like A Custom House With 70K Builder's Upgrade. Hardwood Floor Throughout. Huge Family Room With Gas Fireplace. Gourmet Kitchen With Granite Counter. Top Of The Line Kitchen Appliances. Super Large Walk In Cl...
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...
One Bedroom Plus Den Spacious, Clean Basement Apartment In The Heart Of Maple In A Private Home. Close To Public Transport, Go-Train, Highways. Suitable For Single Or Couple. No Smoking In The House. Prefers No Pets, But Could Be Discussed.
Bright And Spacious Bungalow, Steps To Yonge Street And To All Amenities Shops, Parks, Public Services, Transportation, 404/407, Lots Of Storage And Cedar Closet In Bsmt. Move In Condition.
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...
Absolutely Stunning Full Renovated Hone Situated In The Middle Of Mill Pond. This House Has 4 Bedrooms, 7 Bathrooms, Large Beautiful Room Full Of Light. Custom Made Kitchen With Pull Out Cabinets. Custom Wrought Iron Railing Staircase Leading To Bsmt Apartment W/ Bedroom, Kitchen...
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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.
