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Mortgage lenders may sometimes charge an application fee to process your request.
Mortgage lenders may have your home appraised by a professional, whose bill they then hand over to you.
Because mortgage brokers do not work for a bank, they may charge a fee that is payable on your closing date, usually 1-2% of the value of the home.
Lenders may require a survey of the property, which determines what is factually owned. If this is done, your lawyer should have this survey.
It is beneficial to have a home inspector look at your home before possession to protect yourself from potential problems.
A policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
It is not mandatory but having title insurance protects you from fraud and errors that could occur on the title. Your lawyer can provide a copy of this.
These account for the preparation and recording of official documents.
The previous owner may have paid property tax or utilities in advance and they might want the credit for their payments. Your lawyer or realtor can provide more information on this.
The costs may be incurred as a result of moving your utilities to a new location, as well as any minor adjustments you would like done to your property before the move (such as cleaning the furnace, carpeting cleaning, etc.)
This only applies to newer homes, and is a rebate intended to allow the builder to recover a portion of the GST spent in building the home. Homes costing $350,000 or less get a 36% rate. Homes over $450,000 do not qualify for this rebate.
John Mattiello & Associates will be happy to discuss this with you.