SOME OF YOUR CLOSING COSTS WHEN BUYING
Not obligatory but if given with your offer to purchase, becomes part of the down payment.
Plus GST and QST.
Adjustment of School Taxes
July 1st to June 30th.
Adjustment of Municipal Taxes
January 1st to December 31st.
If applicable the seller fills the oil tank, purchaser pays for full tank.
Otherwise known as the “Welcome Tax”increases in rate the higher the property value.
Appraisal and Application fee for mortgage
Banks most often waive this fee, GST and QST applicable.
Building Inspection and report
GST and QST applicable.
Mortgage Loan Insurance
Percentage of the face value of the mortgage amount plus applicable taxes,, may also be charge for opening file with C.M.H.C.
Get quotes in advance, rates vary amongst companies.
Is mandatory and proof will be required at the signing at the notary.
If the purchased property is a condominium, the purchaser will have monthly condo fees to pay.