Hidden Fees When Buying A Home »

Keep Hidden Fees In Mind Before Making Final Offer »

Appraisal fee:Lender may require – basic appraisal in the $150 – $200 range
Property taxes:Lender may require that the property taxes be included with your mortgage payment
Survey fee:Lender will require. Don’t need to worry about getting one when buying a new home
Property Insurance:For replacement value of your home and contents. Lender requires as it is security against your mortgage
Service charges:For items such as telephone and cable
Lawyers’ fees:Legal work and review of papers. Shop around
Mortgage loan insurance application fee:For a high ratio mortgage, you must have this insurance. CMHC fees are $75.00 if an appraisal is provided by the lender, $235 if it is not. The insurance will cost anywhere from 0.5% to 3% of the amount of the total mortgage
Mortgage broker’s fee:fee for finding a lender and putting the financial work together
Moving costs:Professional movers range from$50 to $100 per hour and higher at the end of the month and in the summer
Estoppel Certificates:About $50 for a certificate that outlines a condominium corporation’s financial and legal state
Maintenance fees:For condominiums – monthly fees for common area maintenance
Water quality certification:$50 to $100 to to certify well service. NOTE: – FREE in our area

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