Purchasing a home, is one of the largest investments we will make in our lives.  You have found your dream home, arranged for all the financing and look forward to the day you receive the keys.  You go to your lawyer's office to sign documents and SURPRISE, there are other expenses the need to be addressed before or on the closing date.

Some of the upfront costs you should plan on paying include appraisals, inpsections, lenders fees, title company fees, attorney fees, deposit on the purchase, and land transfer tax.  You MUST plan for these fees.  Talk to your real estate professional or your lender who will be able to estimate all of these costs or your.  The sums vary for these expenses.  You should be prepared.  Even if you have zero down, you are still responsible for fees associated with your purchase.  The zero down is coming to an end as of October 2008.

Keep in mind that you will have to pay a portion of that year's property taxes when the home closes.  The buyer may be called to pay his/her share of the pro-rated annual taxes.  Some municipalities would like you to pay the first year.  This should be discussed with your lawyer.  Remember, some neighborhoods are taxed more heavily than others.

If you have difficulty reading or understanding the multiple costs that are involved, don't take any chances and speak to your real estate respresentative, your lawyer or your mortgage broker. This will help to clarify your financial obligations.

Don't let unexpected and unpleasant surprises spoil your excitement.  Being prepared and well informed makes the payment of these bills less of a shock to your system.  And, it doesn't make your hands shake as much when signing the cheques.

For further information and advice, fill in the sign-up form below and I will contact you to discuss in detail.  Your contact information must be correct for us to proceed.