Real Estate Fees

REAL ESTATE FEES:
Generally speaking, our fee on the purchase of a single family home is $650.00 plus HST and disbursements, and our fee on the sale of a single family home is $550.00 plus HST and disbursements.

For complex transactions involving complex title issues and worth more than $400,000.00, we may calculate the fee based upon a percentage, as set out below.  However, usually, we just agree on a fee with you in advance in these circumstances.

The fees also vary depending on the nature of the property, as well.  Single family homes are fairly consistent in the nature of the work that is required.  For example, there is much more work to be done on a commercial property than on a residential property.  The size of the fee reflects the complexity of the transaction.

TOTAL COSTS:
Very often I find that clients want to know up front what the total costs of a real estate transaction are going to be.  That is almost impossible to predict.  Certain costs, like Land Transfer Tax, are a percentage of the purchase price.  Municipal search fees vary from municipality to municipality.  You may or may not need a survey done.  There are document registration fees, conveyancor fees, title search fees, title insurance premiums, LawPro transaction levies, execution searches, bank fees, courier fees, etc..  As I say, it is not possible to give a quote on these costs in advance.  The only thing my office has control over is the legal fees.

Nevertheless, I can assure you that we try to keep the disbursements at a minimum.  As a result, on a purchase we strongly suggest obtaining title insurance rather than paying for all the municipal searches and a survey.

SCHEDULE:
Below is a schedule of our basic fees for the different types of properties listed:

RESIDENTIAL:                                                                                                 PERCENT*                             MINIMUM FEE
SINGLE FAMILY HOMES:
Puchase (includes 1  mortgage)                                                                  [0.3% purchase price]      $   650.00
Sale                                                                                                                          [0.1% sale price]                 $   550.00
Mortgage                                                                                                               [0.2% principal]                 $   600.00

MULTI-UNIT RESIDENTIAL:
Purchase (includes 1 mortgage)                                                                  1.0% purchase price         $2,500.00
Sale                                                                                                                           0.6% sale price                  $2,000.00
Mortgage                                                                                                               0.5% principal                    $1,500.00

COMMERCIAL:
STAND ALONE:
Purchase (includes 1 mortgage)                                                                  1.0% purchase price         $2,500.00
Sale                                                                                                                           0.6% sale price                  $1,250.00
Mortgage                                                                                                               0.6% principal                    $1,500.00

MULTI-UNIT:
Purchase (includes 1st mortgage)                                                               1.0% purchase price         $3,000.00
Sale                                                                                                                          0.6% sale price                   $2,500.00
Mortgage                                                                                                               0.6% principal                    $2,000.00

FARM:
ACTIVE FARM:
Purchase                                                                                                                1.0% purchase price         $2,500.00
Sale                                                                                                                           0.6% sale price                  $1,500.00
Mortgage                                                                                                                0.6% principal                   $1,500.00

HOBBY FARM:
Purchase                                                                                                                 1.0% purchase price        $1,750.00
Sale                                                                                                                            0.6% sale price                 $1,200.00

INDUSTRIAL/MANUFACTURING:
Purchase                                                                                                                  1.0% purchase price       $2,500.00
Sale                                                                                                                            0.6% sale price                 $1,500.00

* Only applies to single family homes that are more than $400,000.00, and is usually negotiated in advance