firsthomebuyer

Dear clients,
First, I would like to thank for your time to visit my website. Then, in this page, I will explain to you all costs that
you will have to consider when you plan to purchase your first house.

As you knew, you don't have to pay anything to employ your agent; he will share the commission from the seller
with the other agent which we call : The Listing Agent. So, your agent from buyer side will be called: The Selling
Agent. Both of the agents will share the commission as they agreed in the contract.

The fees:
1- At start, there is almost no cost for researching a property. You may search on the Internet, by driving to
search in certain areas, or from the advertising such as local newspapers, real estate magazines ... According a
research from the CIGM, more than 80% buyers found their house by searching on the Internet. So, there is
really no cost or minim amount of searching for buyers.

2A- Inspection fee: 500 to 700 depending the type of house.
After selecting an appropriate house, you will make a promise to purchase through your agent. In this offer, you
will have a certain delay ( 7 to 10days) for inspecting the property by a professional inspector that you may choose.

2B- If your property is a semi-commercial or multiplex (more than 6 units), your bank may require an evaluation
report at your cost by an expert recognised by the bank. The fee of the evaluation varies from 500 to 1000 and
more depending on the type of the property.

2C- Again, If your property is a semi-commercial or multiplex (more than 6 units), your bank could require the
environment reports which are called Phase 1, Phase 2 and Phase 3. The Phase 1 is cost about 2000 and the P 2 is
around 3000 in case there is a requirement. Speak with your banking officer about these reports before you make
an offer.

3- The notary fees: from 1000 to 1700 depending the file.
Notary fee is always assumed by the buyers.

4- Insurance: There are 2 kind of insurances in any real estate transaction.
  4a:   Mortgage Insurance: As borrowers, buyers must have to buy a mortgage insurance offered and prepared
at the bank in order to have a mortgage. It will cost from 10 to 70 per month
  4b:   Property Insurance: Buyers must have the property insurance at the date to sign at the notary. It will cost
from 800 to 2000 and more per year.

5- Taxes:
  5a: the welcome taxes: you will receive the taxes invoice after a few months.
  5b: GST and QST: if you purchase a New house
        GST and QST on the amount paid to SCHL: If your down payment is under 20%, you have to have SCHl to
ensure you in order to have the mortgage approval.

6- Others: repartition at the notary such as scholar tax, property tax, oil ...

If you have any question regarding these fees and costs, please do not hesitate to write me an email, I will be
pleased to answer in a short delay.

My offer for First Home Buyer:
Depending the area and type of the property, I will have a Pay Back program in form of certificate gift for you, It
could vary from 500 to 3000 dollars. Please contact me if you are interested

Thank you for your reading

Best regards
Andy Pham H.L