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Axess Law video conferences with you anywhere in Ontario. Call to talk to real estate lawyers 7 days a week, day or evening, at your convenience. Our virtual lawyer services make it easier to get legal services. Timely legal advice and low flat rate legal services — make your appointment by dialing 647-479-4118, toll free to 1-877-552-9377, or use our easy online booking form. Debit, cash, VISA or Mastercard accepted.
That depends on why you bought the home.
If you’re the original purchaser and intentionally assigned the home because property values went up, you pay the GST. Canada Revenue Agency considers your purchase an investment “adventure”. The same may apply if the home is impractical for your needs, such as too small for your family. That raises suspicions you bought it to profit off rising housing prices.
On the other hand, if you planned to live there but your circumstances changed, such as relocating for work, you may be exempt. Axess Law Sarnia reviews your agreement of purchase and sale, and if needed, refers you to a trusted tax lawyer.
You might negotiate a flat rate fee with your lawyer — Axess Law’s fees are all flat rates — but otherwise, no.
Closing costs are fixed fees that add as much as about 5% to the cost of a home. They include land transfer taxes, plus Toronto’s municipal land transfer tax, title and fire insurance, and registering title to your property. Legal fees and your share of property taxes and utilities are included.
For high-ratio mortgages with less than 20% down, mortgage default insurance is added to your costs. HST of 13%, minus any rebates you qualify for, is due for new or substantially renovated homes.
As the closing day draws near, your Axess Law lawyer will contact you to finalize the amount you need to bring to our office to conclude your home purchase.
