Single-family residential home purchase
lawyer fee for services
disbursements* (including all searches, registering your Deed and one Mortgage, mailing, copying, courier, faxes)
* The only disbursements not included in this figure are:
(a) your title insurance policy. For example, the company from which I commonly purchase a title insurance policy for your benefit currently costs $228.00 for a policy for properties being purchased for $200,000.00 or less, $282.00 if over $200,000.00. Policies cost less for condominiums. Please refer to stewart.ca for useful information regarding title insurance and the invaluable protection it provides to you.
(b) Land Transfer Tax. This is a tax levied by the Ontario government when you buy a home, and it is based solely on the purchase price of the home you are buying. First time home buyers may qualify for a waiver of the Land Transfer Tax. Please refer to http://www.fin.gov.on.ca/en/tax/ltt/ for useful information regarding Land Transfer Tax.
(c) any additional registrations beyond your Deed and one Mortgage, if applicable (e.g. second mortgage, Deed Restrictions, Power of Attorney, etc.).
(d) a survey of the property if your mortgage company requires one (almost all waive with title insurance) or you desire one.
(e) any off-title searches (e.g. building department, fire department, etc.) waived by the title insurance provider but desired by the client.
This price is based on a policy of title insurance being purchased on your behalf to protect your rights to the property. Failure to purchase a policy of title insurance will result in additional fees, disbursements & HST.
Please note that the PST on your CMHC premium (if applicable) is an out-of-pocket expense on your part on closing. Please inquire with your mortgage broker in that regard. Please note that you may also owe the Vendors of your property additional money on closing if they or their mortgage lender have prepaid the municipal property taxes past the closing date of your purchase.
*Please note: to avoid additional fees, please schedule one single appointment for all persons signing
SPECIAL OFFER! Wills & Power of Attorney: for 2 Wills (basic spousal - mirror Wills, with one alternate Trustee) and 2 Powers of Attorney (basic combined financial & personal care, with one alternate Attorney), signed in conjunction with real estate closing: $425.00 plus HST.