If you have any questions, please contact The Mulholland & Ross Group for friendly & helpful assistance:
Surveys
A survey of your home consists of a bird's-eye-view drawing
of your home and yard. It should show a plan number and
lot description. If requires a date and a signature of the Ontario Surveying Company who
surveyed it. In their offer, your purchaser will probably request a copy of your survey.
If you can't find your survey, try checking in:
Your safety deposit box Your bank who holds or held your mortgage The lawyer who helped you buy the house Your neighbours (often old surveys show 4 -5 houses on it - your property could be on theirs)
The cost of a new survey ranges in price from $700.00
to over $1000.00 for ravines and difficult lots. Talk to your lawyer about title insurance
as a possible alternative which costs $250.00. You always have the option of selling your home without
a survey and letting the buyer figure it out.
Canceling a Mortgage
A mortgage is often set up for a length of time or a 'term'.
If you are selling your home before the end of its term, and not planning to take it with
you to a new place, your bank will charge you a penalty fee. Most commonly, the penalty fee
is for 3 months of interest payments.
Note: Each lending institution is different
and should be consulted on this matter.
GST
GST is not payable on resale homes.
GST is payable on new homes that have not been occupied for at least 1 year.
GST is payable on any commissions paid.
RealestateCanada.com
The Mulholland & Ross Group are featured with their listings on RealEstateCanada.com (www.realestatecanada.com).
Your safety deposit box