Whether it’s buying, selling or placing a mortgage, dealing with real estate is one of the most important financial decisions you will make. Make certain that you get the right advice and find a lawyer that you are comfortable with to advise you.

We are experienced in all aspects of real estate transactions including residential, commercial and agricultural transaction.We are also familiar with transactions involving the purchase and sale of agricultural quotas.

Appointments are available outside our “regular” office hours and we will work around your schedule.

Mortgages:
We deal with a wide variety of banks and financial institutions and will also work with you if you have made arrangements to deal with a private lender.
People are often confused about what it means to “port” and mortgage.

In fact, you never simply “pick up” the mortgage that exists on your present home and move it to the new home you have purchased; when you sell your home, it is required that you pay off the existing mortgage. If, however, you decide to keep your business with the original lender (and borrow more money than the amount remaining on your mortgage) that bank will often give you advantageous terms of interest rate and amortization etc. As well, they will most often forgive any penalty charge if the original mortgage was for a fixed term. There are many factors involved and we recommend that you shop and approach a variety of different lenders, or consider using a mortgage broker, so that you can be certain you are getting the mortgage which is right for you.

Contact us today for advice on how to start the process.

Land Transfer Tax:

Real Estate purchases in Ontario are subject to the province’s Land Transfer Tax, which must be paid by the buyer when the transaction closes.
The City of Toronto has its own land transfer tax for purchases in the municipality, which must be paid in addition to the provincial land transfer tax.
The basic formula for calculating the provincial land transfer tax is:

• 0.5% up to and including $55,000
• 1% above $55,000 up to and including $250,000
• 1.5% above $250,000
• 2% above $400,000 where the land contains one or two single family residences.

Land Transfer Tax Calculators:
If you are a first-time homebuyer you may be eligible for a partial or complete refund of your land transfer tax to a maximum of $2,000.

To calculate the land transfer tax you can expect to pay:

• https://www.oreb.ca/tools/land-transfer-tax-calculator/

• https://www.ratehub.ca/land-transfer-tax-ontario