Buying or selling your home is the largest financial transaction most of us will make in our lives and it’s only natural that you would want someone to help you with the process. From the beginning of the process, through putting the key in the door, we’re here to help, often for one affordable flat-fee.
We know how challenging and sometimes confusing the process can be. Whether it’s your first time buying or selling a house or if you’ve been doing it for years, questions can come up. What is title insurance and do I need it? How long will it take to get the funds from my sale? How do we pay the last water bill after we move out? We pride ourselves in talking people through the processes to make sure that they understand as much as they want to about the process. For some people that’s just knowing that they can trust us to do things right; for other people, it means having a longer conversation about every aspect of the transaction. Whichever you prefer, we’re happy to help, always with helpful handouts for you and always with a smile.
We not only do residential real estate but we can also help with any commercial purchases and sales. We have a broad range of experience, especially with small and startup businesses and non-profit real estate transactions.
Come in and see any of our trusted lawyers who are here not only to help you buy or sell a home, but to explain the process and answer questions at your own pace. Providing service in Winnipeg and its surrounding communities.
The cost to sell or buy a house can be affected by many different factors, but the legal fees are usually quite straightforward. Our base prices for a typical real estate transaction are:
Basic Purchase Transaction (under $500,000.00, cash, no financing)……….$595.00
If mortgage financing, additional……….$495.00
Basic Sale Transaction (no mortgage, the property has clear title)……….$595.00
If there is a mortgage to discharge on the property, additional……….$345.00
Additional to those prices are taxes and disbursements (such as couriers, land transfer tax, etc.).
There are also times when a situation is more complex and fees may be higher. Typical (but not exhaustive) examples include:
- the purchase/sale of a condo, commercial or rental properties;
- Purchases over $500,000.00;
- Bridge financing;
- Video document executions or house calls;
- Rush/last minute transactions where we receive mortgage instructions, or the offer, within 7 days of closing.
If this applies to you, we will absolutely walk you through the process and discuss any additional fees and expenses with as much transparency as possible.
Land Transfer Tax
Land transfer tax is often a surprise for people when they purchase a home. The Province of Manitoba levies a tax, paid by the purchaser, on any transfer of land in Manitoba, ranging from 0%-2% of the fair market value of the land transferred. The Land Titles office has a calculator available, here, to see what the cost of the tax is for a particular value, but as an example, a $300,000 house would attract a land transfer tax of $3,650.00.
Please see our article that helps to explain closing costs by clicking here.
Home Buying Tips
Looking for helpful hints to make buying your new home a better, easier experience? Take a look at our article, here.