Lawyer or Notary Fees and Expenses (searching title, investigating title, drafting documents, Land Title registration fees)
$800-1000
Survey Certificate (Title Insurance commonly purchased to cover this requirement)
$200-400
Cost of Mortgage (appraisal, Land Title registration fees)
$250-400
Home & Fire insurance premiums
Varies
Property Transfer Tax
First $200,000 X 1% of total property value then from $200,000 and up X 2% of total property value Example: Sale price = $500,000 First $200,000 X 1% = $2000 Remaining $300,000 X 2% = $6000 Total Transfer Tax = $2000+$6000=$8000
Goods and Services Tax (new home purchases)
Varies depending on sale price
Home Inspection
$350
Adjustments (ex. property tax)
Varies
Strata move-in fee (if applicable)
$75-175
Strata documents (if applicable)
$50
Additional builder’s costs may apply to new home purchases (ex. new home warranty)
Varies
Sellers:
Lawyer or Notary Fees and Expenses (attending to execution of documents)
$400-600
Costs of clearing title (discharge fees, prepayment penalties)
Varies
Real Estate Commission
Varies depending on sale price
Adjustments (ex. property tax)
Varies
Jeff Feaver, REALTOR® 604-762-1775 One Percent Realty Ltd. #202-505 Hamilton St Vancouver BC Canada V6B2R1 Copyright 2006 www.VancouverCityLiving.com All rights reserved Vancouver Real Estate REALTOR® MLS® 1% Realty