Fees Inherent to the Purchase of a Home
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ITEMS
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FEES
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1.Down payment upon presentation of the promise to purchase
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500 $ to 1 000 $
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2.Building inspection
Optional, but strongly recommended
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400 $ to 600 $
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3.Lender or CMHC appraisal fees
Often paid by the lending institution
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165 $ to 250 $
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4.Notary fees
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950 $ to 1 200 $
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5.Pyrite test
Often paid by the seller
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500 $ to 650 $
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6.Certificate of location
Often paid by the seller
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400 $ to 600 $
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7.Adjustment of municipal and school taxes
Calculated according to the amount of annual taxes, by taking into account your date of occupancy and taxes already paid by the seller
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Based on annual taxes
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8. 9 % tax on CMHC premium
Variable based on the purchase price and the % down payment
(Non-applicable if the down payment is higher than 20%)
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Variable
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9.Transfer tax
Calculated according to the amount paid or the valuation (highest of the two)
- 0 to $ 50,000 = 0.5%
- $ 50,000 to $ 250,000 = 1%
- $ 250,000 and over = 1.5%
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0,5 % to 1,5 %
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10.Services of a mortgage broker
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Free !!!
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