Real Estate Services
For years, home sellers and buyers have come to us for sound Real Estate
advice. Now, we offer even more including important
information on Title Insurance.
Convenience
With five offices to service your Real Estate transactions, you don't have
far to go to complete the purchase or sale of your real property.
Flexible Meeting Times
At Paquette Travers Deutschmann we always try to see our clients when it is convenient
for them.
Fixed Closing Costs With Title Insurance
Due to our large volume, Paquette Travers & Deutschmann is able to offer fixed closing costs on standard transactions.
A "Standard" Purchase Transaction (single residential home) includes:
- legal fees for document preparation
- preparation of one mortgage (mortgage instructions must be received within 72 hours prior to closing or rush charges apply)
- title search (for properties located in Waterloo Region, Wellington County, Halton Region)
- photocopies, faxes & e-mails
- arrangement for the payment of file disbursements
- corresponding with the solicitor for the other party
- preparation, review and registration of closing documentation
- meeting with you to sign the closing documents, arranging title insurance & reviewing the statement of adjustments
- reporting to you and your mortgagee.
For Multiple Unit complexes or commercial or industrial transactions please contact our office for a fee quote.
A "Standard" Sale Transaction includes
- legal fees document preparation
- preparing Statement of Adjustments
- corresponding with the solicitor for the other party
- preparation, review & registration of closing documentation
- meeting with you to sign the closing documents
- reporting to you
- GST
- LSUC Levy (Law Society of Upper Canada)
- photocopies, faxes & e-mails
All standard transactions do not include the government disbursements such as registration costs (register a new mortgage on a purchase or discharge of an existing mortgage on a sale) and Land Transfer Tax.
Such fees are quoted as of January 1, 2008 and are subject to change accordingly based on the GST and other government fees or disbursement amendments.
| |
Our Fees & Disbursements |
Title Insurance |
| |
Purchase Price |
Premium |
Total |
| Resale Home Purchase |
$999 |
+ |
Below $200,000 |
$224.00 |
$1223.00 |
| + |
$200,001 - $500,000 |
$278.00 |
$1277.00 |
| New Home Purchase |
+ |
Below $200,000 |
$224.00 |
$1223.00 |
| + |
$200,001 - $500,000 |
$251.00 |
$1250.00 |
| New/Resale Condo, Purchase |
+ |
Below $200,000 |
$189.00 |
$1188.00 |
| + |
$200,001 - $500,000 |
$216.00 |
$1215.00 |
| Sale Transaction |
$7491 $7992 |
| Mortgage Refinance |
$579* |
Mortgage Price |
Preminum |
Total |
| + |
Below $50,000 |
$81.00 |
$660.00 |
| + |
$50,0001 - $750,000 |
$118.80 |
$697.80 |
* Includes the registration of the new mortgage.
1. Kitchener-Waterloo, Cambridge & Guelph area fee.
2. Milton area fee.
- All governments disbursements such as Land Transfer Tax and Registration Costs are not included in the above fees.
- Our fees and disbursements quoted are in effect until January 2009. Title Insurance and Government Disbursements are subject to change.
Terms and Conditions / Additional Fees
Please see below for additional costs that may be incurred depending on the situation and complexity of the transaction. All costs will be discussed with you in advance of the closing. If you have any questions, please feel free to contact our office at your convenience.
2008 Fee Structure for Additional Costs
| Item |
Fee |
| Similar Name Declaration |
$84.00 + GST |
| Preparation of Discharges |
$240.00 + GST |
| Assignment of Rents |
$145.00 + GST |
| Application Name Change |
$145.00 + GST |
| Survivorship Application |
$145.00 + GST |
| Application of Power of Attorney |
$145.00 + GST |
| Preparation of Agreement of Purchase & Sale |
$275.001 |
| General Application (Amend PIN) |
$145.00 + GST |
| Transfer of Title (Spouse to Spouse) |
$475.002 |
| Payouts |
$25.001 |
| Direct Deposit into Client Account |
$53.001 |
| Certify Cheque from Procees of Sale |
$11.661 |
| Closing Date Extension Costs |
$135.00 + GST |
| Preparation of Second Mortgage |
$143.101 |
| Missed or Separate Appointments |
$106.001 |
| Receipt of Mortgage Instructions > 72 Hours |
$111.301 |
| Change to Mortgage Documents after Prep |
143.101 |
| Preparation of Extra Mortgage Instructions |
$53.001 |
| Out of Town Search |
Call |
| Construction Advances (Per Occurrence) |
$130.381 |
| Closure (p) |
$22.501 |
| Closure (s) |
$17.501 |
| Emergis |
$30.741 |
Applies to Single Family Residential Only
1 Includes GST at current rate of 5%
2 Includes fees, GST (5%) disbursements and registration costs.
Non-Resident Sale Transactions
When a non-resident owner sells Canadian property, Canadian law requires us to holdback 25% of the proceeds of the sale pending filing of a Canadian Income Tax return by the end of the next tax year, calculating Canadian tax owed on any Capital Gain.
Alternatively, the owner may obtain a Section 116 'Clearance Certificate' that should be applied for in advance of the sale. This Certificate can be obtained from any Canada Tax and Revenue office. Such Clearance Certificate must be completed by Revenue Canada and submitted to our office prior to closing or the holdback will apply.
Land Transfer Tax Calculation
| Purchase Price |
% Purchase Price |
Less |
| 0-$55,000 |
0.5% |
0 |
| $55,001-$250,000 |
1.0% |
275 |
| $250,001 - $400,000 |
1.5% |
1525 |
| $400,001 + |
2.0% |
3525 |
Applies to Single Family Residential Only
Example Calculation:
Given a purchase price of $126,000 and using the above table, we can calculate
the following. We take 1% of 126,000 which is $1260.00 and then subtract
an additional 275 given the range value of the property.
So...
(126,000 X 1%) = 1260
Therefore:
1260
- 275 = $985.00
Registration Costs
There will be an additional charge to register your deed, mortgage, secured
lines of credit, and/or Power of Attorney, if applicable, on title for
purchase transactions, as well as discharge any and all existing mortgages
or secured lines of credit registered on title on a property in which
you are selling. Such costs are $70.50 per document in regions with electronic
registration i.e.. Wellington County, Waterloo Region, etc.
Guaranteed Client Satisfaction
Paquette Travers Deutschmann believe in building long lasting relationships
with our clients, starting with the first phone call. We earn our clients
trust with detailed client information pamphlets and the support of knowledgeable
Law Clerks.
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