Article courtesy of Genworth Canada. Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates… Continue reading 10 Closing Costs When Buying a Home
Tag: closing costs
Closing time
In my post last week, I talked about adjustments on closing. Adjustments are one element of closing costs: the costs that you will have to pay in addition to your purchase price in order to buy your home. There are several line items in closing costs; some are fixed, and some are variable. Some fixed… Continue reading Closing time
Time for an adjustment
Often, when you put an offer in on a property, you think about what you will need to pay for it on its face. It is important, however, to also keep all of your closing costs in mind. I will be expanding on closing costs in my post next week, but today I wanted to… Continue reading Time for an adjustment