A good faith Deposit is almost always given when a Buyer submits an offer or Contract of Purchase and Sale to buy real estate in Ontario. 

This deposit money is deposited and held to ensure the Buyer will go forward with the deal on the Completion Date after they have removed their subject conditions. This deposit money forms part of and is included in the purchase price on closing. 

Deposit amounts vary depending on the sale price. Commonly for first time home buyers. its $5,000 plus in the GTA.



Purchase price of home

First $55,000
On $55,000 to $250,000
On $250,000 to $400,000
Over $400,000
Marginal tax rate


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Ontario first-time home buyer land transfer tax rebate 

The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $2,000. 

Toronto first-time home buyer land transfer tax rebate 

First-time home buyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725.


You will need a lawyer to complete the purchase of your house. Legal fees can vary but on average you should allow for $600 – $900 for legal fees and an additional $200 – $400 for disbursements, which include registering the mortgage, completing a tax certificate, and doing a title search on the property. Throw in the typical lawyer administrative fees for postage, faxing, photocopying and “file maintenance” and the costs quickly add up. 

Shop around for the best price. Some law offices specialize in handling these mortgage disbursements and have cheaper rates. Call at least 3 other lawyers for quotes. A few phone calls can save you hundreds of dollars. 

Legal fees for a purchase can range $1400 plus.



A home inspection is a type of buyer protection. It is a formal survey of a house’s structural and mechanical systems, performed before the sale of the house. 

An official home inspection performed by a certified home inspector is not about value, it is about condition. It helps insure things are as they appear; structure is sound, systems are in good working order, and costly hidden repairs will not be required. 

Time required depends on size and condition of the home. Some homes can be inspected in 2 to 3 hours; older, larger homes can take 4 to 6 hours. Time involved also depends on how thorough the inspector is, and overall structure condition. 

Cost ranges from $250 and up.



 I strongly suggest you calculate the cheaper option; to move yourself or to hire a moving company. While you may think you know the answer, the cost is dependent on how far you're moving and what kind of time you have. Fuel costs and one-way rentals can be very expensive. Make sure you do a cost analysis to find the true answer.



Before you close on your new home, the lender requires you to get Home Insurance. Shop around for the best deal. If you package your car and house together most insurance companies tend to give a discount. House insurance rates very based on the home.

Costs range from $500 and up

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