*For typical transactions between individuals in Ontario urban areas. For a purchase this will include the preparation and registration of one transfer/deed where the purchasers are individuals, and the preparation and registration of one mortgage/charge on title if necessary. For a refinance or adding a new mortgage this includes preparing the mortgage/charge for registration and attending to all the necessary searches and execution of the mortgage documents as per the lender's instructions. However, this will not include acting for private lenders where the lender retains us to prepare the mortgage documents as well, an additional fee will be charged to the private lender (or the private lender may pass through this charge to the borrower, depending on what is in the mortgage commitment). For more on fees and costs click here. If you are a first time home buyer click here to understand the road map to buying real estate in Ontario. If you are selling real estate for the first time and would like more information click here.
**Although it may not be necessary you have the option to request that the search be done, or your lender may require us to complete same, if so, you will only be charged for the actual disbursement, which ranges from $45.00 and up depending on the municipality/city. For more on off title searches click here.
***The benefits of Title Insurance are vast, and the cost is one time upfront on closing and will provide you coverage for as long as you own the property or mortgage. For more on the benefits of title insurance click here. To obtain a real quote on what your title insurance one time premium will cost you click here.
****Land Transfer Tax is payable every time there is a transfer of beneficial ownership. Typically this occurs during arm's length purchases. However, we will work with you to minimize your land transfer tax liability depending on your circumstances, including applying for your first time home buyer credits. Often when refinancing, a transfer of title is necessary to add a parent or friend to help you obtain the mortgage, in these situations the beneficial owner can still remain the same, thus no land transfer tax needs be paid; for more information on this click here. For a real quote on what your land transfer tax will be click here. For more information on Land Transfer Taxes in Ontario click here.