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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9741 Keele St
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...
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. W/O To Cozy & Quiet Back Yard Through Lower Level.Close To Sc...
Absolutely Spectacular Forever Unobstructed Views North-East-South-Southwest,Golf Course,Country Club,Toronto Skyline,Lake All From 227Sf Wrap Around Balcony, Close To Schools,Transit,Parks,Recreation, 1089Sf, 9' Ceilings,Potential To Convert Den To Builders Concept Of 3rd Rm Wit...
Completely Renovated, 4 Bedroom Townhouse In Multi-Million Dollar Neighbourhood With The 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, Throu...
Basement Bedroom 3.32X3.20 Closet, Bedroom, Window. Office 3.20X2.75 Rec Room 9.14X5.40 Walk Up To Garden. ***Location. Location. Location. Huge Family Home. Literally 2 Minute Walk To The Ttc, Easy Access To Schools, Shopping. Pool Size Lot 60X145 With Lots Of Parking.***
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...
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...
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...
High-Quality Investment Opportunity In Red Hot Riverdale High Exposure Commercial Storefront At The Corbner Of Gerrard St East And Logan Avenue With Two Well Appointed Residential Apartments Recent Improvements Include New Roof, Kitchen, Washroom And Flooring Turn Key Ready To Re...
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...
Prime North York Area Sought After Bayview Village. Great School District Such As Earl Haig School Zone (School Rating 8.5) Bayview M.S., Elkhorn P.S. Lots Of Upgrades Over The Years. Professionally Landscaped Front And Backyard. Great Family Home With Huge Rec Room And Extra 3 B...
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 Year New Luxurious Building By Menkes. Super Spacious Bachelor Over 400 Sqft, With Breathtaking View Of The Lake, City And Green. 9 Ft Ceiling. High End Finishes And Modern Build In Appliances And Quartz Counter. Building Amenities Incl Gym, 24 Hours Concierge, Party Room, Th...
Luxury Condo Built By Tridel. Spacious 1 Bedroom Plus Den/Solarium With Unobstructed South View. Minutes To Hwy 401, Scarborough Town Centre, Schools, Etc. Plenty Of Visitor Parkings And Great Amenities.
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.
The Penrose Recently New Flr, New Paint Updated Very Bright, Clean, Spacious & Rarely Offered 2+1 Bdrm Unit Approx 963 Sq.Ft. Neutral Color, Great Layout & Good Use Of Space, Large Separate Den W/Closet - Could Be 3rd Bdrm, Laminated Floor Throughout, Marble Floor, Granite Vanity...
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...
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. Heated Swimming Pool & Hot Tub. Fitness Centre. Easy Access To Yorkville, Ttc, U Of T, And Museum.
*Excellent 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. Freshly Painted, Family Size...
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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.