Associated Costs
The list below has
many of the associated costs with purchasing a home.
Just give me a call and we can discuss your specific situation
|
Property Transfer Tax The Britich Columbia provience defines this tax and it has to be paid before the purchase can be completed. |
ð | 1%
of the first 200k and 2% on the blanace |
| Solicitor or Notary The legal fees cover the transfer of the property title and recording this in the Land Title Office. If you are getting a new mortgage there is a fee to prepare and register the mortgage documents |
ð | Between $800 and $1,500 depending on the complexity of the transaction |
| Survey Certificate If required by the lender or recommended by the solicitor. The survey ensures that the buildings are within the borders of the property and there are no encroachments. This applies to single family homes. The previous owner may have a Survey Certificate that is acceptable. |
ð | Approx. $250.00 |
| Mortgage Application Fee Many banks will charge an application fee However we work with several well established mortgage brokers and in almost all cases there are no costs associated with arranging your mortgage |
ð | ~ |
| Building Inspection fee
(Home Inspections) It is your option as the buyer whether or not to have a home inspection done to pinpoint any potential defects. In some cases your lender may request one and we strongly recommend getting a home inspection. |
ð | $250.00 to $500.00 |
| Appraisal Fee Depending on your financing an appraisal my be requested by your lender. The requirement depends on your downpayment and type of financing you require. |
ð | $250.00 to $350.00 |
| Property Tax If the current owners have paid the property tax for the year, you will need to reimburse them for your share of the taxes. Property taxes are calculated from Jan to Dec and are paid at the end of June. |
ð | Varies depending on chosen property |
| Strata Fees For Condo’s, Townhomes and some single detached homes within a community the owner may have pre-paid the strata fees. If this is the case there will be an adjustment. |
ð | Varies depending on chosen complex |
