Real Estate Lawyers & Attorneys

Siskinds’ real estate lawyers handle London, Ontario and province-wide residential real estate purchases, sales, and mortgage-refinance transactions. Siskinds real estate lawyers and Expedited Realty Services Department (ERS) have years of experience providing home buyers and home sellers with a full range of real estate legal services for home purchases, home sales and mortgage transactions.

Siskinds ERS offers you peace of mind by providing you with an all-inclusive, fixed-cost price at the beginning of our hassle-free closing process. When you contact Siskinds ERS for a residential purchase, sale or mortgage quote we will quote you the bottom line price, including all disbursements allowing you to budget accordingly, with no unexpected additional legal costs on closing.

ERS All-Inclusive Pricing*

For residential transactions:

Purchase – $1,806.87 – Includes fees, title insurance, title search, disbursements and HST. Document registration of transfer and mortgage & land transfer tax not included. Status certificate for condo purchase add $100 disbursement. For purchases in excess of $500,000.00, add title insurance policy incremental premium

Sale – $1,128.87 – Includes fees, disbursements and HST. Does not include registration of discharge or other instruments on title, if applicable.

Mortgage Refinance – $1,237.35 – Includes fees, title search, disbursements, lenders title insurance, HST and document registration. Does not include registration of discharge or other instruments on title, if applicable. Does not include additional unsecured debt payouts.

Please contact us directly to obtain a quote on commercial transactions.

Land Transfer Tax

Land Transfer Tax (LTT) is payable to the Ontario government at the time we close your purchase transaction. For properties located in Toronto there is an additional Municipal Land Transfer Tax (MLTT) payable to the City of Toronto.

The Ontario LTT rate:

  • 5% of the value of the consideration up to and including $55,000,and
  • 1% of the value of the consideration which exceeds $55,000 up to and including $250,000, and
  • 5% of the value of the consideration which exceeds $250,000, and
  • 2% of the amount by which the value of the consideration exceeds $400,000 for land that contains at least one and not more than two single family residences.

The Toronto MLTT rate:

  • 5% of the value of the consideration up to and including $55,000, and
  • 1% of the value of the consideration which exceeds $55,000 up to and including $400,000, and
  • 2% of the amount by which the value of the consideration exceeds $400,000 for land that contains at least one and not more than two single family residences.

Land Transfer Tax Calculator

http://www.ratehub.ca/land-transfer-tax

First-Time Home Buyer Rebate

Both Ontario and the City of Toronto offer land transfer tax rebates for first-time home buyers to offset the tax. The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $4,000. First-time home buyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725.

To claim the Ontario or City of Toronto rebate, you:

  • must be at least 18 years of age;
  • must occupy the home as your principal residence within 9 months of the date of transfer; and
  • cannot have ever owned a home, or an interest in a home, anywhere in the world.
  • your spouse cannot have owned a home, or an interest in a home, anywhere in the world while being your spouse

Source: Ontario Ministry of Revenue, “Land Transfer Tax Refund for First-time Homebuyers”
Source: City of Toronto, “Municipal Land Transfer Tax”

Please contact Siskinds ERS at 519.672.2121 or ers@siskinds.com to get further information about the Ontario or City of Toronto land transfer tax. We would be pleased to discuss your transaction with you in person, outline our hassle-free closing process and calculate for you the all inclusive closing costs with respect to your particular transaction.

*All prices quoted are for standard transactions. Complications, including but not limited to, amending or clearing up title, multiple units, tenanted properties, blanket or multiple mortgages and mixed-use or commercial properties will increase fees accordingly. Purchases over $500K may be subject to increased title insurance disbursement. We will discuss any additional fees with you immediately upon becoming aware of any complication with your transaction and prior to commencing any additional work.

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