Buying a home is an exciting and complex adventure. It can also be a very time-consuming and costly one if you’re not familiar with all aspects of the process, and don’t have all the best information and resources at hand.
One of my specialties is representing the best interests of Collingwood area buyers throughout the home buying process. My comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.
If you’re like most people, buying a home is the biggest investment you will ever make. So whether you’re buying a starter home, your dream home or an investment property, why not take advantage of my experience as a local market expert for Collingwood to make the most informed decisions you can, every step of the way?
Home Finder Service
If you’re like most buyers, a home is the most expensive purchase you’ll ever make, and you’ll probably need some form of financing.
There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.
We would be happy to refer you to some very good mortgage contacts we have in Collingwood, or to help you in any other way we can to secure the best possible rate for your home purchase.
Ontario Land Transfer Tax
Want to learn more about Ontario Land Transfer Tax? Visit the Ontario Ministry of Finance Website
Who pays land transfer tax?
When you acquire a property or land, you pay land transfer tax to the province when the transaction closes. Land transfer tax is normally based on the amount paid for the land, in addition to the amount remaining on any mortgage or debt assumed as part of the arrangement to buy the land.
First Time Home Buyers
If you are a first-time homebuyer, you may be eligible for a refund of all or part of the land transfer tax.
HST Housing rebates
Generally speaking, sales of new homes are subject to HST; however, you may qualify for a rebate for some of the tax you paid if you meet certain requirements.
Now for Resale Homes, generally speaking they are not subject to HST, but may under certain circumstances it could be. To be safe, it is always best to ask your account to double check.
Before the sale closes, you’re required to pay to register your property’s title under your name. This may be called a “land transfer tax,” a “deed registration fee,” a “tariff” or a “property purchases tax.”
The cost is a percentage of the home’s purchase price; for example, if your land transfer tax is 1.5% and your home cost $300,000, you’ll pay $4,500.