Closing Cost Information

Be informed. Homebuyers often are not fully prepared for the additional costs involved in purchasing property. While the purchase price is by far the largest cost, it’s imperative to take into account the numerous direct and indirect expenses (including):

• Legal Fees: for arranging the mortgage, title searches, title deeds and registering the mortgage and disbursements.
• Mortgage Insurance & Application Fee: this is applicable whenever the down payment is less than 20% of the purchase price.
• Appraisal Fee: required by most lending institutions prior to providing financing.
• Home Inspection Fee: Optional but advisable.
• Property Insurance
• Land Transfer Tax: May be exempt if a first-time buyer and acquiring a new home.
• H.S.T.: applies somewhat to all new homes. Partial rebates may be available.
• Moving Costs
• Miscellaneous: Telephone, cable, gas, hydro may require new account or installation charges.
• Storage rental costs

Closing Cost Information, Purchase (Approximate Values Only):

• Legal fees $400-900
• Disbursements $400-900
• Land transfer tax (varies on purchase price) Approximately, just under 1% or price (avoided if new home & first time buyer).
• Home Inspection (if applicable) $300-$600
• Title Insurance $300-$600
• Closing Cost Calculator

Sale (Approximate Values Only):

• Legal fees $300-700
• Disbursements $200-600
• Title insurance $175-200
• Home Inspection Service $250-400 (Highly recommended for purchases)

Other Costs To Consider:

• CHMC Insurance (included if mortgage) (if applicable) (Purchase only) (1%-4% OF Mortgage Amount)
• CMHC application fee (If Applicable) ($160.00 approx) (Mortgage insurance) (PUCHASE ONLY)
• H.S.T ON CHMC (If applicable) OF CHMC Amount
• H.S.T ON Purchase Price (On new home purchases only) – Usually include in purchase price
• Telephone Admnistration fee
• Union Gas Administration Fee
• ENWIN UTILITIES Administration Fee
• Cable Television Administration Fee -Moving costs
• Cleaning service
• Title defects, if any (EX. TAXES, LIENS, ETC.)
• Change locks

Home Presentation Tips:

Here are a few simple tips that will help you present your home in its best light. Remember, you only have one chance to make a great first impression.

• Move excess furniture like footstools, extra tables and extra chairs to a storage unit to clear out clutter and make rooms look bigger.
• Store all toys and keep your house clean and clutter-free.
• Have a yard sale to sell anything you no longer want or need, or donate you items to local charities (tax deductible).
• Clean carpets, drapes and even furniture, if needed.
• If repainting, replacing carpets or redecorating try to use neutral colors (beige, camel, light gray, etc).
• Add a fresh coat of paint (neutral shade) in interior walls.
• Replace carpets if worn out or outdated.
• Fix anything obvious on the outside of your home.
• Inspect you home thoroughly and either repair large problems such a faulty roof or broken appliances, or adjust you price and / or negotiate terms accordingly.
• Keep your lawn, shrubs and plants neatly trimmed to maximize your “curb appeal”.
• Get a new mailbox or new house numbers to further enhance curb appeal.
• Add color to the outside of your home by planting flowers, hanging flowering baskets and adding a coat of fresh paint to shutters.
• Repaint front door; polish brass knocker and kickplate to make your entryway shine.
• Clean garage of clutter and sweep out thoroughly.
• Clear off the back deck or patio to make it look larger and more relaxing.
• On the day of a showing, bake cookies or bread and make a fresh pot of coffee. These comforting aromas can help make a house seem like a home.
• Gardening equipment and tools should be put away.
• Park you car in the garage or on the street to leave the driveway open.
• Check all rooms for safety hazards. All extension cords should be out of sight. Remove all potentially slippery throw rugs.
• If your kitchen cabinets are not up to date, sometimes just changing the hardware (knobs/handles) can be a dramatic improvement.
• A new shower curtain for all bathrooms is a very good idea. Streaky old shower curtains are a real turnoff.
• Turn all the lights on when your house is shown.
• Flowers are an effective way to spark up a room

To Do List:

Here is a simple checklist that will help you with the transition for your upcoming move!! (The names and numbers are recommended service providers only, you are encouraged to use whomever you prefer and they are merely provided for convenience)

• Call your lawyer
• Call the movers!!! (Remember, it’s usually more expensive to move on a Friday or Saturday)
• Moving checklist
• Call your accountant, doctor, dentist, pharmacy
• Call your insurance company (auto, home, life and benefits) (call before closing!)
  Have a yard sale
• Call a cleaning company
• Forward /change your address with post office (for 3-6 months)
• Change address for drivers license, credit cards, magazines, etc.
• Call Union Gas (888-774-3111), Enwin Utilities (519.255.2727)
• Call Bell Canada (519.310.2355), Essex Power Lines (519) 737-6640,
• Call Reliance Home Comfort (519) 256-8542
• Call Cogeco Cable (519.972.6666) and your internet company
• Notify your bank
• Notify your investment advisor
• Notify Revenue Canada, G.S.T. Office, Social Security Office, OHIP
• Call a painter
• Call a plumber
• Call a locksmith
• Notify The Windsor Star (519.255.5711)
• Notify your leased car company
• Notify your airline company (air miles)
• Notify your swimming pool company

Moving?-Don’t Forget About Forwarding Your Address To:

• Doctor
• Lawyer
• Dentist
• Broker
• Insurance
• Newspapers
• Magazines
• Mail Order Houses
• Books/Records Clubs
• Electric
• Gas
• Utility
• Telephone
• Cable TV
• Fuel
• Water Treatment Services
• Banks
• Library
• Credit Cards
• Department Stores
• Baker
• Laundry
• Drug Store
• Housecleaning
• Post Office
• Income Tax
• Family Allowance
• Old Age Security
• Canada Pension Plan
• Unemployment Insurance
• Health Insurance
• Vehicle Registration
• Driver’s License
• Schools