Canadian Real Estate/2nd house

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Question
Hello,  We are ready to sell our first house and look at purchasing our 2nd. My question is, do you still put a down payment on the 2nd property as you would for the 1st? and if so, what is the rate for a deposit now? Also what other fees can we expect to sell the 1st house, other than the standard Lawyers fees and commission?  Thank you

Answer
Hi Kimberly,
Anytime you buy a property there will be a deposit with the Offer. You will not get any interest on the deposit because the rates are so low.This deposit will go towards your down payment.
On the Purchase,you will be paying Land Transfer Tax, Lawyer's Fee's, Title Insurance and Moving expenses.
On the Sale of your property you will be paying Commission + HST and Lawyer's fee's.
Good luck with move!

Derek

Canadian Real Estate

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Derek Hamilton

Expertise

Any questions relating to Residential Real Estate in the City of Toronto or Southern Ontario. How much is my home worth in todays market? What's involved in Buying Real Estate ? How much do you need for a down payment? What's involved in Buying a Condo? What's involved in Buying a Co-op? What do you need as a deposit? How to choose a good Real Estate Agent for your property? What should you do to prepare your home for the market? How much Commission should you expect to pay? What are the expenses when Buying or selling your property? Should you have your home Staged for the market? Derek Hamilton has made Toronto his home his whole life and knows better than most what the city has to offer! Use his 26 years of Award winning experience to work for you.

Experience

Residential Real Estate Sales Representative in Toronto Ont,Canada for 26 years. Award Winner for 24 straight years with Royal Lepage & Sutton Group. Prior experience was 10 years building new custom homes & Renovations in North Toronto. I have a total of 36 years experience in the Residential Real Estate field.

Organizations
I also subscribe to the Georgian Triangle Real Estate Board in Collingwood & the surrounding areas.

Education/Credentials
George Brown College "Carpentry", Continuing Education with the Toronto Real Estate Board. Member sinse 1985.

Awards and Honors
Platinum Award 2000-2008, Presidents Gold Award 2009-2010-2012, Award Of Excellence 2011 25 Year Club for the Toronto Real Estate Board.

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