York Region Real Estate Board (YRREB)

Text Box: Land Transfer Tax (For more information on calculating Land Transfer Tax click the Land Transfer Tax button on the navigation bar.) Example: 250K home would be approx. $2,225 Goods & Service Tax (GST) (i.e. Purchases included, home office…) For more information on GST click the GST & Real Estate button on the navigation bar. Home Insurance Home Inspector The YRREB recommends that you have a reputable Home Inspector go through your possible home purchase. Speak to your YRREB member for more information and OFFER Clauses. Mortgage Expenses Example: Processing fees, registration, … Note: If you currently have a mortgage on your current property find out if it is transferable. Ask your YRREB Realtor for more information. Commission (Most often paid by Seller) Closing Cost Adjustments – Example: Pre-Paid Taxes / Fuel Solicitor Fees / Legal Expenses and disbursements Title Search and registration of documents. Cost of a survey, zoning memorandum, tax certificate. Utility Company Connections Example: Cable / Internet / Gas / Hydro / Water … Rentals Example: Hot Water Tank / Softener / Furnace ... Appliances / Furniture / Window Treatments Cleaning. You may be left with a surprise. Also, if you are moving into a home during a rainy/snowy day ensure the carpets are covered. If the home has a wood stove or fireplace you may have to clean the chimney. Also, any furnace, gas fireplace, or air conditioner should be cleaned. Refer to the manufacturers instruction for optimum performance and safety. Moving Expenses / Storage Maintenance Lawn / Snow Removal / Paint / Landscaping … If the property has a WELL, request to see the latest FLOW and Water Tests. If the tests are not current, it is recommended that NEW flow and water tests be conducted. Ask you YRREB Member for more information. If the property has a SEPTIC tank, request documentation regarding the last time the tank was cleaned. Request a septic survey. Speak to your YRREB Realtor for more information. P O O L If the property has a pool there are additional expenses. Speak to your YRREB Realtor for more information. If you are purchasing the property during the winter months your YRREB Realtor can help you to create specific clauses for this item to protect you.

Text Box: B U Y E R E x p e n s e s for Re-Sale & Newly Constructed Homes

Text Box: Land Transfer Tax For more information on calculating Land Transfer Tax click the Land Transfer Tax button on the navigation bar.) Example: 250K home would be approx. $2,225 Meters Example: Water Meter, Hydro Meter, (Gas Meter) Subdivision Improvement Fees Town Tree Planting Driveway Paving Grading Deposit Educational Lot Levies Goods & Service Tax (GST) For more information on GST click the GST & Real Estate button on the navigation bar. Home Insurance (Example: Fire) Mortgage Insurance The Tarion New Home Warranty Program TNHWP Mortgage Expenses Example: Arranging costs( some institutions send a third party then charge those expenses back to you), registration, Land Registry or Land Titles Office Commission (Most often paid by Seller) Did you sign a Buyer Agency agreement with a Realtor? Extras and/or features that may only have been included in model. Obtain builders schedule “A” Closing Cost Adjustments – Example: Pre-Paid Taxes / Fuel Solicitor Fees / Legal Expenses and disbursements Title Search and registration of documents. Cost of a survey, zoning memorandum, tax certificate. Utility Company Connections Example: Cable / Internet / Gas / Hydro / Water … Rentals Example: Water Softener Appliances / Furniture / Window Treatments / Garage Door Openers /Central Vacuum Moving Expenses / Storage Fences / Landscaping/Air Conditioning/Humidifier/Air Cleaner/Security System Maintenance: Lawn/Snow Removal / Paint / Furnace … Rental agreements that the builder may have made with Sub-trades. Example: Alarm System and Hot Water Tank. Do some comparisons. How long are the agreements for? What does it cover? Is there a buy out? If so, how much and when?

© 2005 York Region Real Estate Board All rights reserved.

Text Box: The purpose of this section is consumer awareness of possible additional costs that my be incurred when purchasing a residential Re-Sale home. NOTE: Listed are the most common costs and expenses. Keep in mind, each property is unique, thus there is a possibility that some costs and expenses may NOT be listed within the web page. Please do NOT rely on this web page for all your costs pertaining to your possible Re-Sale purchase.

Text Box: The purpose of this section is consumer awareness of possible additional costs that my be incurred when purchasing a Newly Constructed Home. NOTE: Listed are the most common costs and expenses. Keep in mind, each builder / home site property is unique, thus there is a possibility that some costs and expenses may NOT be listed within the web page. Please do NOT rely on this web page for all your costs pertaining to your possible Newly Constructed Home Purchase.

Dell.ca_WeeklyPromo120x240

120x240 Homepage

Realtor Advertisment