Costs when Buying and Selling Real Estate
Here is a list of the typical costs Borne by the Buyer and Seller:
Cost to be Borne by the Seller
Lawyer or Notary Fees and Expenses: -attending to execution of documents. Cost of clearing title, including: -discharge fees charged by encumbrance holders and prepayment penalties (if any). Real Estate Commission. GST of 6% (if applicable).
Cost to be Borne by the Buyer
Lawyer or Notary Fees and Expenses: -searching title, investigating title, drafting documents, and Land Title Registration fees. Survey Certificate (if required). Costs of Mortgage, including: -mortgage company's Lawyer/Notary, appraisal (if applicable), Land Title Registration fees. Fire Insurance Premium. Sales Tax (if applicable). Property Inspection (always a good idea) Property Transfer Tax of 1% on first $200,000 and 2% on the balance. GST of 6% (if applicable).
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David Valente
www.davidvalente.com
Prudential Sussex Realty
Committed Service. Real Estate Sales.
Valente Real Estate North Vancouver. Real Estate West Vancouver. Real Estate Downtown Vancouver. Real Estate in the Lower Mainland. Buy and Sell Real Estate. Dave Valente