There are three separate expenses when you buy and mortgage a home. First is the lawyer’s fee, second is the Land Transfer tax paid to the Province when we register the deed, and third are the disbursements (searches, registrations, title insurance, etc.).
When you buy and mortgage your home you should verify with your lender as to the amount of the net advance to the lawyer. Your bank or credit union may hold back funds for appraisals, property tax and for the tax on any high ratio loan fee (mortgage default insurance).
Disbursements, HST, and Land Transfer Tax not included. Quotes provided.
$1,200.00 – Purchase up to $200,000.00
$1,400.00 – Purchase up to $300,000.00
$1,600.00 – Purchase up to $400,000.00
$1,800.00 – Purchase up to $500,000.00
$2,000.00 – Purchase up to $600,000.00
$2,200.00 – Purchase up to $700,000.00
$2,400.00 – Purchase up to $800,000.00
$2,600.00 – Purchase up to $900,000.00
When you sell a home, don’t forget you have to pay your mortgage lender back and there may be a penalty for early payout of a mortgage. Your realtor has to charge you HST on their commission when you sell.
For residential and vacation properties. Quotes provided.
$1,150.00 – Sale up to $200,000.00
$1,350.00 – Sale up to $300,000.00
$1,550.00 – Sale up to $400,000.00
$1,750.00 – Sale up to $500,000.00
$1,950.00 – Sale up to $600,000.00
$2,150.00 – Sale up to $700,000.00
$2,350.00 – Sale up to $800,000.00
$2,550.00 – Sale up to $900,000.00
If you are buying and selling the same day we advise that you speak with your financial representative about bridge financing. If you have never owned real property in the world you may qualify for the first time home buyers rebate.
If you are obtaining a construction mortgage make sure the bank or credit union advances match the payments due to your contractor. If refinancing your home make sure you know what the lender and broker are charging you and what penalties your existing lender will charge to payout that mortgage.
Please Note: for purchases, sales, and mortgages, disbursements & HST are charged in addition to the fee. Business and corporate purchases, sales, and mortgages are subject to individual quotes.