ONCE YOU HAVE BOUGHT

Buying a home can be a very exciting but stressful experience with many costs to manage. Most people are prepared for movers costs ($90 - $160/hr), lawyer (Approx. $1000.00) and even interior design ($250/hr) expenses and they plan for them accordingly.

Closing costs are typically one-time-only charges that are necessary to complete - or "close" - the transaction. These costs may include inspectors fees ($450/inspection), appraisers ($250/appraisal), title searches. lawyer (Approx. $1000.00) and applicable taxes, such as GST on the fees. Closing adjustments include the repayment of a portion of any property taxes, utilities etc. that may have been prepaid by the vendor. If you have bought a condo, you will get a package of strata documents to read, they can be very comprehensive & complicated. There is a service that can read the documents for you and prepare a report for a fee of $349.00, click here & order the service

There will be some costs. such as cable TV, telephone, hydro and home insurance that typically will end with previous owner's departure. It is the owner's responsibility to cancel the existing service with no costs owing to you. It is your responsibility to arrange for new service under your own name. Shortly before your closing date (usually 2-3 days before completion date), your lawyer should also be able to tell you the exact amount you will be required to pay in addition to your down payment. You will be required to submit this payment before you will be allowed to sign your documents and get the keys to your new home. With a good lawyer and your RE/MAX professional, there's one thing that you can expect on closing day and that is: no surprises.