Realtron Realty Inc.


Independently Owned

and Operated


Buying a home is a major decision. Besides being a place to live, a home is often the

single largest investment Canadians make. Here are a few things you may want to consider before you buy:

  • 1. Location

    Think about where you want to live the three most important principles in real estate are location, location, location! Talk to your friends, drive through various neighbourhoods, or contact us - we’d be happy to send you regular updates on properties of interest!

  • 2. Finances

    Consider getting pre-approved. Knowing how much you can afford to spend will make decisions about where you want to live and the features you’d like much easier. Make sure you have 5% of the purchase price available in a certified cheque or draft as a deposit on your new property. Also, don’t forget about application fees and mortgage insurance. Although some lenders will waive this fee, application fees usually range from $75.00 to $235.00. Mortgage insurance will range from 0.5% to 3.57% of your mortgage and can be included in your monthly payment.

  • 3. Legal

    Once you have selected a real estate agent, you will be asked to sign a Buyer Agency Agreement. The agreement outlines all services provided by the realtor and establishes the fee schedule and duration of representation to the buyer. Also, you should select a lawyer to represent your interests through the transaction. Prices range from $500.00 to $1,500.00 plus disbursements. Fees are determined by the lawyer.

  • 4. Disbursements

    Includes City Tax Certificate, City zoning Reports, City Engineering Report, Sheriff's Certificate Registry Office searches, deeds registration, mortgage registration, copies, postage, long distance calls, courier fees, etc.

  • 5. Provincial Land Transfer Tax* (LTT)

    $0 to $55,000.00  0.5 %

    $55,001.00 to $250,000.00  1.0 %

    $250,001.00 to $400,000.00  1.5 %

    $400,001.00  + 2.0%

    * Special taxes apply to non-residents. These figures represent approximate amounts, for planning purposes only.

  • 6. Toronto City Land Transfer Tax

    If you buy a property in the city of Toronto, you have to pay the Provincial Land Transfer Tax and Toronto Land Transfer Tax upon closing.First time home buyers of new and re-sale homes will receive a rebate of the Toronto tax of up to $3,725 (this equals 100% on homes purchased up to $400,000 - essentially first time home buyers pay

    nothing on the first $400,000).

    $0 to $55,000.00  0.5 %

    $55,001.00 to $400,000.00  1.0 %

    $400,001.00  + 2.0

    Click here for a calculator that will calculate the total amount of Land Transfer Tax to be paid upon the purchase of a new home.

  • 7. Adjustments

    Money owed to the seller due to pre-payment of taxes, hydro, gas, fuel oil, etc.

  • 8. Home Inspection

    Although not required, a home inspection ia a useful tool in buying a house completed by a qualified inspector. It gives insight into the state of the house and it's fixtures and chattles. The approximate cost is between $250 and $600.

  • 9. The Move

    Varies depending on your choice of movers (i.e. professional movers or packing yourself). We have a list of qualified movers for your use.

  • 10. Insurance

    After you close your home you will need to have it insured. This can cost from $600.00 and up depending on the size and contents.

  • 11. Closing

    You will meet with your lawyer a few days before closing to sign the paperwork and deal with mortgage. You should also have the rest of the money available for funds due on closing. The lawyer will adjust taxes and utilities and deal with other issues.

Now that you've considered the issues of buying, contact us and we'll help you find the home of your dreams!



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