| LAWYER’S
FEES |
Approximately $800 - $1,200 |
TITLE
INSURANCE |
Homes $400,000 or less = Approx. $325
Homes $780,000 = Approx. $625.00 |
| STATUS
CERTIFICATE |
If purchasing a condominium
- $100 |
LAND
TRANSFER TAX |
0.5 % to 2% - based on purchase price |
| CMHC
FEES |
If mortgage is high ratio (less
than 25% of purchase price down payment) $75-$235
depending on whether appraisal is available from
lender (appraisal cost - approx. $175) Negotiate
with lender - most will waive this fee |
CMHC
INSURANCE |
.5% to 2.75%, depending on ratio of value / loan
- this can be added to mortgage amount and financed
over term of mortgage |
| P.S.T
ON CMHC INSURANCE PREMIUM |
8% - must be paid on closing |
TAX
ADVANCE REQUIRED BY LENDERS ON HIGH RATIO MORTGAGES |
May be up to one half year’s tax amount |
| UP-TO-DATE
SURVEY |
Lender may request - approximately
$800 |
PROPERTY
INSURANCE |
Your house must be insured in order to get a mortgage |
| UTILITY
HOOK-UP |
Phone, cable, etc. may cost
around $200.00 |
MORTGAGE
ADJUSTMENT PERIOD |
This is the portion of the month following closing,
to the end of that month. The bank is entitled to
mortgage interest on closing to that point, however,
your actual mortgage payments won’t start until
one calendar month AFTER closing. |
| MOVING
COSTS |
Varies according to distance
and volume. |
*
This information is provided as a guideline only,
Royal LePage Signature Realty does not warrant
or guarantee accuracy as each transaction may
incur different levels and types of fees. |
