We handle a broad range of real estate related matters. We are very aware of the importance of a real estate transaction in the lives of our clients. For most, the purchase of a home is the single largest investment they will make during their lifetime. We take care to ensure that our clients are fully aware of all aspects of their transaction and understand fully the financial aspects of the transaction.
You will be required to produce 2 pieces of valid Identification (ID) when you attend our office to sign your real estate documents. The first pieces of ID must be a valid photo ID, such as a valid driver's license, valid passport or a landed immigrant card. The second ID can be a social insurance card, credit card or similar. Your ID must be produced and will be photocopied by our staff when you attend our office for your initial appointment If you have any questions with regard to appropriate ID, please contact our office immediately to clarify.
When someone buys land or an interest in land in Ontario, they pay Ontario's land transfer tax. The land value upon which the tax is based includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances and cabinetry). First-time homebuyers may be exempt.
The land transfer tax rates calculated on the value of all consideration are:
- 0.5% up to and including $55,000
- 1% above $55,000 up to and including $250,000
- 1.5% above $250,000
- 2% above $400,000 where the land contains one or two single-family residences.
At Jim Renick & Associates, we offer support in these and many other matters, for more information, please contact our office directly to see how we can help you!