Found 2 blog entries tagged as title insurance.

So after days, weeks, or maybe even months of searching, you’ve finally found your dream home. Congratulations! You’re about to own a home—perhaps even your first home—and while that’s an exciting new venture to look forward to, there’s a lot to take care of before possession day. There seems to be an endless list of things to remember, from meetings with your real estate lawyer to securing your mortgage. And to top it all off, you’ve just now come across “title insurance” but have no idea what it is or whether you need it.

What is Title Insurance

First and foremost, to understand title insurance, you will need to understand what a title is. Essentially, a title is just the legal term for the right to own the property. So when you buy a home,…

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Buying a home is likely going to be the largest purchase of your life, and the total cost goes beyond just the purchase price.  Here’s what you can expect for costs associated with your purchase.

  • LAND TRANSFER TAX | .5-2% of value

  • When a home changes hands, many provinces and a few municipalities, charge a property transfer tax, or title transfer fee.  It can add thousands to your purchase price. (First time home buyers qualify for rebates or exemptions in some provinces)

  • APPRAISAL FEE | around $500

  • Your lender may ask you to have a home appraised to confirm its market value.  Fees vary depending on a property’s value and complexity… CLICK HERE TO CONTINUE READING

  • LEGAL FEES | $500-$800

  • A lawyer or…

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