Buying a Home: Costs
July 23rd, 2014 by SNJ
Fees
The fees to your lawyer charges for all typical work with respect to your purchase include such things as:
- title searches at the land titles office; investigating taxes related to the property;
- exchanging information with the seller’s lawyer;
- preparing all documentation necessary to complete the purchase;
- answering your questions and meeting with you to review and sign all necessary documents;
- negotiating satisfactory closing trust conditions; ensuring all appropriate documentation has been completed and registered;
- reporting to your lender and to you regarding the purchase and any mortgage; and other related matters.
To ensure fair and competitive fees, the lawyers within our firm generally abide by a price guideline established by our firm, which is dependent upon the amount of the transaction, and the complexity of the transaction. Please feel free to contact any lawyer in our firm for a fee quote as we would be happy to provide one to you and believe our fees are fair and competitive. Please note that legal fees are subject to GST and PST.
Disbursements
In addition to the costs of various documents and searches as discussed above, and in addition to the fees charged by your lawyer, there are many other costs that must be incurred in order to complete your purchase. These costs include the costs of registering the mortgage, caveats, right-of-way agreements, etc.
The Land Titles Office will also charges for title searches conducted, and copies of plans, caveats, easements, and rights-of-way ordered, as they apply to any given property. These costs range on average from $20 to $100.
Finally, all law offices charge for other expenses such as courier charges, photocopies, postage, fax charges, file materials, and long-distance charges.
Notice: The articles on our website are provided for general information purposes only and should not be relied upon as legal advice or opinion. They reflect the current state of the law as at the date of posting on the website, and are subject to change without notice. If you require legal advice or opinion, we would be pleased to provide you with our assistance on any of the issues raised in these articles.
