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Now that you’ve made up your mind and finalized the sale, you should be getting ready to start planning all of the next steps. Before you do, here are some of the important things to keep in mind as you move forward.

Once you decide to buy a property and/or home, there are a few costs related to closing that you should be aware of:

  • Legal Fees, GST and disbursements
  • Disbursements include:
  • Obtaining City Tax Certificate
  • City Zoning reports
  • City Engineering report
  • Sheriff’s Certificate
  • Title Insurance
  • Registry Office searches
  • Registering the deed
  • Registering your mortgage
  • Couriers and other administrative costs
  • Land Transfer Tax: to calculate this tax, the formula is
  • 0.5% on the first $55,000
  • Plus 1% of the amount from $55,001 to $250,000
  • Plus 1.5% of the amount in excess of $250,001 to $400,000
  • Plus 2% of the amount in excess of $400,000
  • Survey: If you are unable to obtain a recent survey, you may have to pay up to $1000 for a new one.
  • Adjustments: This can include costs of pre-payment taxes, hydro, gas, etc.
  • Home Inspection: If you decide to have a home inspection, expect a price tag of approximately $400 + GST.
  • Arranging the Mortgage: This will include an appraisal fee of approximately $220 for a new mortgage.

Moving can be a great cause of stress for most people. Whether you’re relocating from outside of the city to Toronto or moving within the city, I will help you to prepare and find the resources you’re looking for in your new location such as movers, schools, local amenities and anything else that will help you prepare and feel at ease about your new location. Not only can I help you to devise a plan that will help you get ready for the move, I will also help you once you get settled.

Now that you’ve prepared for the move and the day has finally arrived where you become the official homeowner, don’t forget to schedule your appointment to sign the papers. It may seem simple however most homeowners are overwhelmed with all of the last minute details required to prepare for the physical move. During this appointment you will sign the mortgage papers, legal papers and discuss the Statement of Adjustments. You will also find out what your amount owing is so don’t forget to bring a certified check to cover the closing costs. Once you have signed the papers and arranged for the keys, you are officially the owner of your new home.

Don’t forget, I’m here to help you every step of the way, even after you’ve closed. I’m here to help you with any concerns or questions that might arise after you’ve unpacked the last box and declared your new space, ‘home, sweet home’.

Our experience was great! Working with Ryan was a pleasure and we’d be sure to do it again. We’ve recommended Ryan to all of our friends and family and look forward to our next project! - Kevin and Margaret Montrose