Mississauga Mortgage Brokers Mississauga Mortgage How to get the best rates How to buy a home Buying a home GTA

All you need to know about Land Transfer Tax!

 

Land Transfer Tax: How it affects you as a Buyer.

One of the least fun parts of buying a home in Ontario, especially in Toronto, is paying Land Transfer Tax.

What is Land Transfer Tax?

A tax you pay when buying land or on an interest in land which includes any buildings and buildings to be constructed.

Who Pays Land Transfer Tax?

When purchasing a house or a condo, it is the buyer who is responsible to pay the land transfer tax.  Land transfer taxes are to be paid once the deed to the new home is transferred under your name on closing day.  Buyers in Toronto, unfortunately,  also have to budget for Toronto Municipal Land Transfer Tax.

Calculate your land transfer tax by following the link below:

At Team Rick Sekhon, we pride ourselves in taking the time to sit down with our clients and run through all possible costs so there are NO LAST MINUTE SURPRISES.

 

Connect with Rick and team to find out how we can help you save with lower mortgage rates and closing costs today!

 

CONNECT WITH TEAM RICK SEKHON

 

No comments yet.

Leave a Reply