Common Closing Costs for Buyers
Funds to cover your down payment and closing costs will most likely have to be in the form of a bank draft or wire transfer to your lawyer’s trust account. Your lawyer will detail the exact amounts required for:
- The balance of down payment after initial deposit with the offer.
- Mortgage Loan Administration and/or Appraisal Fees, if applicable.
- Points, or loan discount fees, you pay to receive a lower interest rate, if applicable.
- Credit report fees.
- Mortgage insurance premiums if applicable (CMHC).
- Land Transfer Tax and Title Registration Fees.
- Title insurance policy premiums.
- Survey expense if applicable.
- Legal fees and associate disbursements (couriers, copies etc.).
- Pro-rated amounts for your share of any prepaid costs, such as utility bills and property taxes.
Tips for Packing Like a Pro
- Develop a master “to do” list so you won’t forget something critical.
- Purge! Get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
- Before throwing something out remember to ask yourself how frequently you use an item and how you would feel if you no longer had it.
- Pack like items together. Put toys with toys, kitchen utensils with kitchen utensils.
- Decide what, if anything, you plan to move yourself. Precious items, such as family photos, valuable breakables, or must-haves during the move, should probably stay with you.
- Use the right box for the item. Loose items encourage breakage.
- Put heavy items in small boxes so they are easier to lift. Keep weight under 50 lbs. if possible.
- Do not over-pack boxes and increase the chances they will break.
- Wrap every fragile item separately and pad the bottom and sides of boxes.
- Label every box on all sides. You never know how they will be stacked and you do not want to have to move other boxes aside to find out what is there.
- Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.
- Keep your moving documents together, including phone numbers, driver’s name, and van number. Also, keep your address book handy.
- Back up your computer files before moving your computer.
- Inspect each box and all furniture for damage as soon as it arrives. Remember, most movers won’t take plants.