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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37 O'meara Crt
Spectacular Custom Home Boasting Thousands In Quality Upgrades & Finishes W/2 Car Garage W/Entrance To Home, 5+1 Bdrm, Master Bdrm W/ En-Suite Bath, W/I Closet. 9 Ft Ceiling On G/F. Majestic Soaring Entrance W/ Beautiful Staircase, Elegant Dining & Liv Rm, Updated Modern Chef Siz...
Exceptional Open Concept Flr Plan. Executive Family Home In Quiet St. Hrdwd Flrs On Main & 2nd Flr. Pot Lights, Crown Moulding Thru Out Main Flr. Spacious Kit. W Granite Counters, Backsplash, Breakfast Bar. Finished Lwr Lvl W/4th Bdrm, 3Pc Bath, Pot Lights. Reno Bathrooms On 2nd ...
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...
Haven On The Bluffs, Brand New Condo Unit Located On The 5th Floor. Minutes To Downtown Toronto, Prime Location, Upgraded Kitchen And S/S Appliances, Steps To Ttc, School, Shopping Ctre And Lake. Must See.
A Must See!!!! Stunning Home!!! Won't Last.2 Renovated Kitchens 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 L...
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...
Executive Newly Upgraded 4Br,4Bath Residence In Prime York Mills Location.W/O To Professionally Landscaped Spacious Backyard W In Ground Large Salt Water Swimming Pool.Short Walk To Denlow Ps,Windfields Jr High &York Mills Collegiate.Short Drive To Several Prestigious Private Sch...
Prestigious Thornhill Location. Beautiful Ascot Mansion, Low Rise Condo By Shane Baghai. Well Maintained, Top Floor Unit With Unobstructed Stunning South West Park View. 2 Bdrm +1 Full 4 Pc Bathroom. 1 Parking. 1 Locker +Ensuite Laundry. Updated Kitchen. New H/W Flrs, B/I Cabinet...
Stunning 2-Storey Luxury Home In Upscale Agincourt Neighbourhood! 3300 Sqft Plus 1600 Sqft Finished Walk-Up Basement. 4 Bedrooms With Private Ensuite In Each Bedroom. Coffered Ceilings In Entire Main Floor And All Bedrooms With Quality Trim-Work Throughout The House. Gourmet Kitc...
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...
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.
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...
East York Well-Maintained Home 2-Storey Semi-Detached Brick House W/ 3 Bdrms, 2 Washrooms, Mutual Driveway, Detached Garage Close To All Amenities, Walk To Subway, Shopping, Schools, Parks, Danforth Ave. Newer Heating And Air Condition, Walkout From Kitchen To Patio And Walkout B...
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/La...
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.
Location!Location!Location !***Grand Triomphe***Luxury Tridel In The Centre Of North York!!** .Walk To Subway, With Direct Access To 24 Hrs.Metro Supermarket, Restaurants , Earl Haig Secondary School! Den Can Be Used As A Second Bedroom. Rec Facilities Include Pool, Sauna, Exerc...
Eleg. & Grandeur Built By Owner In 2017 In Most Sought After Area. On Cul-De-Sac Remrkble Home Shwcses Ext. Wndws+Lite.Superior Workmnship & Materials.Lrg Princpal Rms. High Ceilings. Flr Heat In Bsmnt & 2nd Flr Ensuite. Grnd Oak Staircase.Mstrbdrm Upstrs.Chefs Kit Beaut Fin Brig...
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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.