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Featured listing
Spacious & Gracious totally renovated with redesigned kitchen & bath to get maximum storage & efficiency. Closet organizers in Bdrm and creative office nook in...
Featured listing
NEW PRICE ... Amazing Value ...The Sierra -beautiful & quiet location close to everything. Open plan with large kitchen, dining and living rooms looking onto...
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| Buyer's Expenses
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BUYER’S ESTIMATED EXPENSES
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Estimated Selling Price of home you’d like to purchase
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The following “up front” expenses are payable on or before the completion day of your purchase. It is possible that you could be exempt from some fees or some fees may be waived. |
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Add the following expenses: |
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Property Transfer Tax
1% of the first $200,000 & 2% on the balance of the purchase price |
$ |
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Lawyer/Notary Fees
Includes your lawyer’s fees & registration of mortgage and Certificate of Title and disbursements |
$ |
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Appraisal Fees
Most lenders require an appraiser’s report confirming that the purchase price was at fair market value. Depending on your down payment, some lenders will waive this requirement. |
$ |
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Home Inspection Fees
It is your option to have a home inspection to pinpoint defects. This is not a lending institution requirement. |
$ |
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Home Insurance Fees
This insurance is required by your lender as security for the loan. Strata properties are insured for contents and liability only. |
$ |
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Survey or Title Insurance
A survey depicts an accurate location of the home and any out buildings in relation to the property lines. Title insurance provides for no-fault protection against title risks. |
$ |
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Property Tax Adjustments
Based on the adjustments date, from your contract of purchase and sale, you may have to reimburse the Seller for their portion of the prepaid property taxes |
$ |
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GST – Goods & Services Tax
Only applicable on new homes. 6% of the purchase price minus the applicable rebate |
$ |
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Interest Adjustment
The amount of interest due between the date your mortgage begins and the date the first payment is calculated from. When there is a gap in the dates, the interest adjustment is payable |
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CMHC/GE Mortgage Loan Insurance Application Fee
Only applies to those with a down payment less than 20% of purchase price |
$ |
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CMHC/GE Mortgage Loan Insurance Premium
This fee is commonly included in your mortgage and paid back over the length of your amortization period. Percentages vary based on the amount of the loan |
$ |
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Buyer’s Brokerages Fees
These costs vary and are between you and your Broker – ask around! |
$ |
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Other Charges
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Subtotal = |
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Subtract Down Payment - |
$ |
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Subtract Mortgage Amount & CMHC Premium if applicable - |
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Estimated Expenses = |
$ |
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Notes:
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