Purchase Expenses

In addition to the actual purchase price of your home, there are other expenses to be paid. Your representative will show you which of the following will apply to your home.

Mortgage Application Fee

Usually $150 to $200 (waved by most financial institutions)

Deposit

At the time of offer should be approximately 5% of the price offered

Balance of Purchase Price

The amount of money required equaling the difference between the mortgage and the deposit. Usually required at least a week before possession.

Legal Fees

To be paid to the lawyer on closing day (possession)

Legal Disbursement

Part of the legal fees

Mortgage Interest & Adjustment

Explained in Mortgage Info

Municipal Tax Adjustment

Explained in Mortgage Info

C.M.H.C. Mortgage Insurance

Explained in Mortgage Info

Mortgage Life Insurance

Explained in Mortgage Info

Home and Property Insurance

Arranged by your insurance company

Utilities

Power, gas, water, phone, cable TV, mail delivery. Some of the above charge a hook-up fee.

Moving Costs

Arranged by your moving company