The typical closing costs involved in an Ontario real estate transaction include legal fees, title insurance, land transfer tax and out-of-pocket expenses.
First Time Home Buyers
Ontario Land Transfer Tax: How Much Do You Have To Pay?
What is land transfer tax?
In Ontario, the land transfer tax is a fee you pay to the provincial government when you acquire real estate. It’s calculated as a percentage of the property’s purchase price and is due upon closing. Your real estate lawyer will handle the land transfer tax payment on your behalf as part of the closing process.
Foregoing a home inspection? Proceed with caution.
As a buyer, it can be tempting to forego all conditions. Financing, home sale, and home inspection conditions are the most common conditions. If you are considering excluding conditions, we urge you to reconsider.
Things a Buyer Should Know about Home Inspections
You've found your dream home and you're ready to put in an offer, but there are multiple offers and you have been advised that your clean offer will seem more attractive to the seller; clean meaning no conditions. A common condition buyers include in an offer is a...