12 Most Common Hidden Real Estate Cost

By
Real Estate Agent with Royal Lepage Credit Valley Real Estate Brokerage

1. Mortgage Agent/Brokers Fees: Be sure to ask, as some may or may not charge a fee.

2. Mortgage Penalties: When paying out a mortgage before the mortgage term expires, be sure to contact your bank. Ask detailed questions e.g. will fees apply, if so, how much?

3. Down Payment: Typically 5% of purchase price (Zero Down/Cash Back may be available, but special terms or conditions may apply.)  If you would like more information on this program, simply send us an WM@Royallepage.ca to get the information sent to you.

4. Closing Cost: 2-3% of purchase price

5. Deposit: Could either be with an offer or within 24hours of offer acceptance. Deposit typically could be $5,000 - $10,000. Sometimes special conditions or terms exist, e.g. the sellers may stipulate minimum $10,000, $15,000 or $20,000 deposit only! Be sure to get this information ahead of time from your Real Estate Expert.

6. Appraisal Fee: approx $350 - $500

7. Home Inspection Fee: approx $350 - $500

8. Status Certificate Fee: approx $100 - $200

9. Legal Fees: Varies, be sure to get at least 3 different quotes

10. Property Insurance: Varies, be sure to get at least 3 different quotes

11.   Title Insurance: Varies, be sure to get at least 3 different quotes

12.   Moving Expenses: Varies, be sure to get at least 3 different quotes

Happy condo hunting & good luck in your search!

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  A Name Real Estate Investors Trust and Recommend!

 

Sales Representative
Royal Lepage Credit Valley Real Estate Brokerage
Direct: 416-268-9344
Office: 905-793-5000
                                                   www.ViewHomes24Hours.ca                                            

 

Connect With Me Today Via:

         Wandanna Melliphant - Specializes In Helping Mississauga First Time Buyers (Royal Lepage Credit Valley Real Estate Brokerage): Real Estate Agent in Toronto, ON

              

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Show All Comments
Rainer
59,736
Bonnie Jean Hart
Home Smart Professionals-La Quinta, Indian Wells, Palm Desert, Indio, CA - Indio, CA
Bonnie & Clyde Team - 25 yrs Exp - Real Estate - L

Good over view!

July 16, 2011 11:02 AM #1
Rainmaker
305,645
Wandanna Melliphant
Royal Lepage Credit Valley Real Estate Brokerage - Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi Bonnie,

Thanks for stopping by.

Your qucik, I'm still working on it, posted it accidently live instead as a draft.

Have a wonderful weekend!

July 16, 2011 11:04 AM #2
Rainmaker
940,480
Adrian Willanger
206 909-7536 TheHomeFunnel.com - Seattle, WA
Profit from my two decades of experience

Wandanna-good list, you never want to surprise a buyer with hidden cost if at all possible.  

 

Best,

July 21, 2011 11:11 AM #3
Rainmaker
347,171
J. A. Michail
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

An interesting blog post that I enjoyed reading! Thank you for sharing it!

July 21, 2011 11:37 AM #4
Rainmaker
305,645
Wandanna Melliphant
Royal Lepage Credit Valley Real Estate Brokerage - Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi Adrian,
Thanks for stopping by.
Apart of our job is prepare buyers and disclose the cost involved. To surprise a buyer could be equivalent to chasing them away.
Have a wonderful day!

July 21, 2011 01:48 PM #5
Rainmaker
305,645
Wandanna Melliphant
Royal Lepage Credit Valley Real Estate Brokerage - Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi John,
Thanks for stopping by.
I'm glad you enjoyed reading this post.
Have a wonderful day!

July 21, 2011 01:50 PM #6
Rainer
74,948
Barbara "Barb" Bodnar, Licensed Associate RE Broker
Coldwell Banker Residential Brokerage - Yorktown, NY
Coldwell Banker Residential Brokerage

Wandanna

a good checklist for buyers

July 22, 2011 06:40 AM #7
Rainmaker
305,645
Wandanna Melliphant
Royal Lepage Credit Valley Real Estate Brokerage - Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi Barbara,
Thanks for stopping by.
Keeping our clients updated and well informed is essential.
Have a fabulous weekend!

July 22, 2011 11:19 PM #8
Anonymous
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Rainmaker
305,645

Wandanna Melliphant

A Name Real Estate Investors Trust and Recommend
Find Out The Value Of Your Home FREE Online Now!
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