Real estate transactions are expensive and there are many filing charges and taxes involved. Working with a lawyer experienced in real estate law helps you get a clear understanding of your documentation and any associated fees and taxes. The Peter Millard Law Office can also help ensure that you don’t pay more than required. Come visit our office to discuss and review your real estate purchase or sale—we’ll help you sort through the documentation and financing to get a clear picture of your costs when dealing with transactions for real estate in Peterborough.
If you are a purchaser, you should be aware of Ontario’s Land Transfer tax, calculated as a percentage of the purchase price or, in some circumstances, the fair market value of the property. The tax is paid by your solicitor on your behalf on the closing date. If you are a first-time home buyer purchasing a new home, you may be eligible for a rebate on the Land Transfer Tax paid. We encourage you to use the Land Transfer Tax calculator to estimate the amount of tax owed to the provincial and municipal authority.