The cost of doing business | Top REALTOR & Real Estate in Halifax, Nova Scotia

The good news is that you have the ability to have Mark Stein work on your behalf and represent your best interests at zero cost! The commission is paid through the transaction.
When you buy a home, there are certain costs you do however, need to be aware of that are over and above your down payment. These include (and are estimated):

Legal fees: Approximately $950.00
Taxes: There are two components to this. A) Municipal taxes are paid in advance in Nova Scotia. Taxes, on closing, are proportioned so that you will pay the tax amount owing based on your closing date and the next billing cycle (which is October 31st and April 30th) B) There is a deed transfer tax which is paid on closing that equals 1.5% of your purchase price. So, if your purchase price is $300,000. the deed transfer tax is $4,500.
Home Inspection: Approximately $450.00
Oil Adjustment: If your home is heated by oil, your lawyer will add to your closing costs the cost of a full tank of oil. The seller provides the oil, and you are reimbursing them for the cost. Approximately $900.00
Power, water, internet, cable hookups.

The commission you pay is actually transaction generated and comes out of the proceeds of the sale.
Legal fees: Approximately $950.
Title Migration: If your property has not has its title “migrated” from the old Registry of Deeds to the new Land Registry system, there is a fee of approximately $750. to have this done (by your lawyer).
Oil Adjustment: If your property is heated by oil, there is a requirement in a standard agreement of purchase & sale to have the seller provide a full tank of oil, upon closing. The buyer reimburses you for this – adjusted by your lawyer.
Taxes: Municipal taxes must be paid in full up to and including the day of closing. Any taxes paid in advance beyond the closing date will be credited to you, on closing, by your lawyer.

Mark Stein

Mark puts his clients’ interests ahead of his own. Always!

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