Other Fees - If your down payment is less than 20% of the purchase price of the home, the mortgage will require insurance from CMHC. The insurance premium is usually added to the mortgage. This premium ranges from .5% of the mortgage value to 3.75%, depending on the size of the down payment.
Property Tax Adjustment - In addition to the above costs, you may be required to have cash on hand to repay the vendors for taxes they have paid in advance (depending on possession date and how the vendors paid their taxes)
Home Inspector - Optional
House Insurance - You will have to arrange insurance on the property before possession. The annual rate for a basic policy is approximately........
Utility Deposits - If utility providers have credit concerns, they may require utility deposits
* These figures are an estimate only. They are subject to change and it is recommended that you consult your lawyer for confirmation of your total costs.
Compliments of Ron Klingbylea full time top producer real estate professional serving Windsor and the surrounding Essex County Community Areas. If you're thinking of Buying or Selling a home, investment or commercial property or relocating to the Windsor / Essex County Area? Contact me I can help, let my consistent, proven accomplishments and lifetime experience in real estate go to work for you.