Our primary focus is on residential real estate. Whether you want to purchase, sell, or refinance your property, we are ready to help you complete the process. Our fees are as follows (as of May 1, 2022):
– Purchase with a Mortgage/Loan *OR* Refinance: $625.00 + disbursements + GST [$1250 – $1350 standard average]
– Purchase with Cash *OR* RESIDENTIAL SALE: $525.00 + disbursements + GST [$850 – $950 standard average; see below]
– Purchase with a Mortgage & CMHC Incentive *OR* Draw Mortgage (whether purchase or refinance): $775+ disbursements + GST
Please note that for purchases, the final total is dependent on your mortgage amount and purchase price. The Land Titles registration fees use a formula that takes these amounts into account. If your purchase price is above $400,000.00, please call our office for a more accurate fee quote.
Disbursements include registry searches, printing & photocopying costs, fax charges, courier fees, and the Land Titles fees. For sale transactions, disbursements will be higher if you are selling a condominium as we must order specific condominium documents ($200 higher on average). Higher disbursements may also apply if you are missing a current Real Property Report with Compliance for a house sale. For purchase files, disbursements will be affected mainly by your purchase price, but the location of the property and your lender choice will also affect charges. Should you require more information, please contact our office directly.
We request a minimum of 5 business days to process your file, and it is recommended that our office has all required paperwork (finalized contract and/or mortgage instructions) at least two weeks before the closing date (possession). While we can work with less than five days’ notice, we will charge a rush fee of $100 to process such transactions.
For files with a CMHC First-Time Homebuyers’ Incentive, we wish to let you know that on our side, it is set up as a second mortgage on your property, and we have additional paperwork that we must review and process. This is why the base fee is increased. For such files, the average fee total that we are seeing is $1350 – $1450.
Please note that for Draw Mortgages (whether you are buying a house and land from a builder or just having a house built on land you already own), disbursements will vary widely. Our range for Draw Mortgages is from $1100 to $1800, although total fees are generally around $1400. We require an up-front retainer for such transactions. Please contact our office to discuss your transaction, as our procedures will be affected by the nature of your transaction/construction.
Commercial & Business Transactions
Our office may also be able to assist you with your business purchase or sale, whether it’s property or assets — or both. As we have limited our work in this area, it is important that you speak to one of us at Highfield.