Toronto Real Estate: Closing Costs For Buyers!
December 14th, 2008 categories: Buying in Toronto
The following is a list of expenses normally incurred by a Buyer when completing the purchase of a Residential property within Toronto.
1. Legal Fees: The tariff rate for residential properties is between .25% and .5% of the purchase price, normally not to exceed $1,450.00. Lawyers may negotiate their fees Read the rest of this entry »
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Toronto Real Estate Board Press Release: Toronto Land Transfer Tax Costs City’s Economy $170 million
December 9th, 2008 categories: Real Estate
TORONTO, December 10, 2008 – Supported by a study on the impact of the Toronto Land Transfer Tax, recently authored by the C.D. Howe Institute and two University of Toronto Economics Professors, Greater Toronto REALTORS® are renewing calls for this tax to be rolled back. Click here to read the full report.
“The housing sector is one of the most significant parts of Toronto’s economy,” said Maureen O’Neill, President of the Toronto Real Estate Board (TREB). “Unfortunately, the study prepared jointly by the C.D. Howe Institute and Economics Professors from the University of Toronto shows that the Toronto Land Transfer Tax has had a negative economic impact, which TREB estimates to be $170 million in 2008.” Read the rest of this entry »
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