1) Land Transfer Tax - Example, $100,000 purchase in Ontario would result in $725 of taxes.
2) Legal Fees and Disbursements - should be negotiated with your lawyer to avoid any misunderstanding during closing stage of the transaction. Example, legal fees may vary from $500 to $1200.
3) Additional Expenses - Example; Property appraisal, building inspection, administration fees and processing of documents. Total additional expenses may total from $200 to $500.
4) Land Survey - Most lenders require a survey. This will establish whether the building is located within its specific legal boundaries. Note - make it conditional on your offer.
5) Closing Adjustments - Includes any necessary payments between you and the vendor. Note - make sure you are clear on payments the vendor has made and what charges are being transferred to you.
6) Fire Insurance - This will vary depending on your property value. Note shop around to compare prices.
7) Moving Expenses - Check for company liability. Best price does not insure the best service and safest way of moving your goods.
8) Hook Up - Telephone, cable, internet, heat, water, electricity.
9) Appliances - Most resale include appliances in your purchase price, if not be prepare to spend a considerable amount of money for purchasing new appliances. Note include all appliances in a condition form.
10) Decorating - Although most decorating can be done gradually, be aware of some essential improvements. Example; paint, curtains, blinds, carpets, hardwood floors (resend), pluming and furniture.