Real Estate Service Package and Pricing
REAL ESTATE CLOSING COSTS The closing costs in a standard Real Estate Purchase transaction with no complications are based on the following three items: 1. LEGAL FEE + GST (see service package below) 2. LAND TRANSFER TAX Many purchasers are unaware of their obligation to pay Land Transfer Tax to the Province of Ontario on registration of their Deed. The rate of tax is based on the purchase price. The calculation is as follows: Land Transfer Tax Calculations Under $250,000 : Purchase Price 1% less $275 Over $250,000 : Purchase Price 1.5% less $1,525 Over $400,000 : Purchase Price 2% less $3,525
| Example: | |
|---|---|
| Purchase Price of Home | Land Transfer Tax |
| $150,000 | $1,225 |
| $260,000 | $2,375 |
| $500,000 | $6,475 |
Plus registrations costs, transfer $71.30 plus mortgage $71.30 Note: There is a second Land Transfer Tax for Toronto Purchases.
3. DISBURSEMENTS PAID BY SOLICITOR ON BEHALF OF CLIENTS IF TITLE INSURANCE POLICY NOT PURCHASED
| DISBURSEMENTS | |
|---|---|
| Tax Certificate | $75 |
| Building/Zone Certificate | $85 |
| Hydro Certificate | $30 |
| Water Certificate | n/c |
| Consumer Gas Certificate | $11 |
| Title Searches approximately (land titles only) | $90 |
| Executions Searches (per name) | $14 |
| Registration of Deed | $71.30 |
| Registration of Mortgage | $71.30 |
| Miscellaneous (photocopying, fax, couriers, etc.) | varies |
| Law Society Insurance Levy Charge | $50 |
| Title Insurance (Average Price) | |
| Purchase | $162 - $378 |
| Mortgage | $125 |
| Condominium Status Certificate | $100 |
| Costs to review Status Certificate | $125 |
REAL ESTATE SERVICE PACKAGE AND PRICING At Dale Streiman Law LLP, we strive to provide the best possible service at an affordable price. We offer an all-inclusive service package which covers virtually any service you may require in your real estate transaction.
| FEES* | |
|---|---|
| Purchase | $875 |
| Sale | $750 |
| Mortgage | $700 |
*GST, registrations, title insurance, land transfer tax and law society levy are extra. Call for details.
| The following services are included: | |||
|---|---|---|---|
| Purchase | Sale | Mortgage | |
| We meet with you and provide you with a written estimate of the total amount required to complete the transaction. | * | * | * |
| Review of Agreement and point out any issues of concern | * | * | * |
| Amendment to Agreement (New Homes) | * | ||
| Written amendments to the agreement as may be necessary. | $125 - $275 | ||
| Review of documents relating to the condominium unit and provide a written report of the issues arising from our review. Review of Status Certificate relating to the condominium unit and provide a written report of the issues arising from our review. | $125 - $275 | ||
| Minor delays: we will re-schedule the closing on one occasion should same be necessary. | $80 - $350 | ||
| Pre-Closing issues: We will address any issues of concern to you or as may be required prior to closing. | $80 - $350 | ||
| Post-Closing issues: We will address any issues of concern to you or as may be required after closing. | $80 - $350 | ||
| Executions ie. Similar Name (declarations Letter inquiries): If your name is similar To someone who has a judgment against them, we will take the necessary steps to verify the identity of similarly named person. | $125 or costs | ||
| Demand Letter: Should there be a breach of the agreement of purchase and sale, we will prepare a letter requiring compliance with the agreement. | |||
| Draft Claim: We will prepare a draft statement of claim should there be a breach of the agreement of purchase and sale which remains unresolved. | $750 plus disbursements and Small Claims/Court Agent/Paralegal Costs: Costs will depend if claim is issued in Superior Court of Justice or Small Claims Court. | ||
| Mortgage Payout: We will pay the funds to your bank or financial institution on closing to discharge same out of the closing proceeds. | * | ||
| Other Payouts (3 or less): We will pay off debts as may be required by you or your bank on closing. | $75/payout | ||
| Evening Appointments: We offer appointments as late as 6:30 p.m. to accommodate your busy schedule. | * | ||
| Power of Attorney for Property: We will prepare a power of attorney for property For you on closing. | $150 | ||
| Direct Deposit: We will deposit the mortgage or net sale proceeds into an account as you may direct on closing rather than providing you with a cheque. | $75 | ||
