Experts Questions and Answers

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Jun 15 2013

Hi there:  If a buyer cannot close on the closing date set out in the Agreement of Purchase and Sale, the seller can agree to extend that date, if he is so inclined.  Sometimes monetary inducements are given as a result of such a request by the Buyer, as pushing back a closing date can... [ read more ]

May 18 2013

Thanks! [ read more ]

Aug 23 2011

What is Land Transfer Tax and how much will it be?

Posted by Nicholas Draper to Joanne McPhail Views (15289)

The land transfer tax you pay will depend upon the price of your home.   Here is a great link to do the calculation.  Just enter in the purchase price of your home and it will calculate your land transfer tax.    [ read more ]

Apr 27 2011

Hi Judy:  Thanks for your questions and for thinking of me!  Land transfer tax would be $3275.00.  Our fee on a purchase with a mortgage is $900 plus HST and the usual disbursements.  We usually tell clients to budget about $1600 plus the land transfer tax on a straight... [ read more ]

Nov 24 2010

Hi Katie,  Thank you for your request. Yes, buying a home without having a down payment is possible.  Some banks will give you the 5% down payment, if your credit history over the last 6 years is good, and you can afford the payments, based on a posted mortgage rate. With regards to... [ read more ]

Sep 17 2010

Can I really buy a home with $0 down?

Posted by Nicola Bean to Cory Kline, AMP Views (5373)

Hi Nicola, I have a few lenders that are willing to provide the down payment for home buyers OAC, provided you are willing to commit to keeping the mortgage with them for the first 5 years.  It's a great option compared to renting until you can save your down payment. -Cory [ read more ]

Jul 1 2010

Hmmm...this is more of a question for a realtor than a lawyer I think...I am fairly sure they can access the last transaction so I believe they can tell you what the Vendors purchased the home for.  I am not sure if they can go back further than that.  If you really want to know, your... [ read more ]

Jun 21 2010

Sorry, I do not know the answer to this, however, I believe the school boards have a web site which allows you to do a search by address, to determine what school area you are in.  Try googling the Simcoe County Catholic School Board to find the site!  Good luck! [ read more ]

May 11 2010

Actually, you are correct, in that Ont. Reg 48/01 does stipulate in section 18(2) that a status certificate cost shall not exceed $100.00, inclusive of all applicable taxes.  However, in my experience, most condo corps have been charging $100 plus GST.  With the advent of the HST, I can... [ read more ]

Mar 27 2010

Thanks for asking!  Our fee for a purchase with one mortgage  is $900.00 plus GST.  Then there are "disbursements" on top of that - these are out-of-pocket expenses incurred by us in order to complete your purchase (like registration fees, title insurance fees,... [ read more ]

Mar 25 2010

Their are 3 main down payment solutions, that can assist you in providing anywhere from a 0%-5% down payment to buy a home. I look forward to reviewing these options with you. [ read more ]

Mar 24 2010

Hi, If you own an existing home with equity, your best choice could be to refinance your house and pay cash for the land. It may be also possible to get a bank to lend you 80% of the value on a line of credit being $120,000 on $150,000 Your other option would be a private mortgage of maybe... [ read more ]

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