Most Frequently Asked Questions


When on the Buying side you do have some extra expenses which may include - Land Transfer Tax (see the calculator below), Status Certificate (if purchasing a Condo), Mortgage / Appraisal fees, Home Inspection fees ($350. - $500. ±), and Land Legal fees.

LAND TRANSFER TAX  - Ontario (outside of Toronto)


.5%    on the first $55,000.

1.0%  on the portion between $55,000. - $250,000.

1.5%  on the portion between $250,000. - $400,000.

2.0%  on the portion over $400,000.


Purchase price of $300,000. = $2,975.00

Purchase price of $400,000. = $4,475.00

Purchase price of $500,000. -±= $6,475.00


Making a few basic home improvements may make your home more attractive to potential buyers. Here are some Renos that offer Big Returns:

► Kitchen:

Return on investment 75 to 100%. The kitchen is one of the most popular renovations that homemakers tackle. Update your current space and appliances for your use or to entice potential buyers.

► Bathroom:

Return on investment 75 to 100%. The bathroom is another room that homeowners tend to remodel. Whether you want to change the footprint of the space or update it, this is a renovation that is sure to pay off.

► Floors:

Return on investment 50 to 75%. Replacing old or outdated flooring in your home can change its look and feel, and make it more attractive to interested buyers.

► Closets:

Return on investment varies. Well-planned closets that boast plenty of storage space is a priority to many potential Buyers. Whether you expand your current closet space or invest in new shelves, doors, etc., could be a major selling point, or deal breaker.

► Energy Updates:

Return on investment 50 to 75%. Save green by going greener with energy-efficient windows, water heaters, solar panels, appliances, etc.These energy-sipping technologies help to put more money in your, or your buyers', pocket.




Often Buyer's are excited about getting out and looking at homes, however some diligence at this point will pay off by saving frustration, time and heartache down the road!  

While you should get started with a real estate sales representative right at the  beginning of your adventure into home ownership here are the basic steps that I will be helping you through.


#1 - Do your homework!

  • Where do you want to live?  Drive around neighbourhoods and see what feels comfortable

  • What do you want in a home? Make a list of features, special requirements for furniture, toys, bathrooms, number of bedrooms and baths etc

  • What are your deal breakers.  It's important to know the must have's or have not's

Often buying a home is a process of elimination so prioritizing what is most important to you helps in the decision making.  It's impossible to get a home that is a 100% fit but knowing what will make it close helps.


#2 - Get pre-approved for a mortgage.  

  • See a mortgage broker or your bank with appropriate information in order to be qualified and ready to move ahead.  If you find the house of your dreams today you want to be ready to act on it!

  • Make sure your credit is in great shape.  Get a copy of your credit score (try Equifax) and check it for accuracy.  If there are errors it may take time to get corrected.

  • Avoid making any large purchases.  This is not the time to buy a new car or furniture as it will impact your credit.  Wait until after the sale closes so your financing is not in jeopardy at the last minute.


#3 - Start your home search

  • At this point you have already met with me and we have gone over the 2 sections above to discuss options.  Perhaps you spotted a sign while doing the neighbourhood search and we are taking a look at it.  

  • I  will be setting up an auto search on MLS so that we know immediately of all new listings and you can preview the pictures and perhaps do a drive by to check the location.

  • We will be working together closely to look at homes that are good matches and eliminate those that aren't


#4 - Submit an Offer

  • Once we find the home that fits most of your needs, I'll help you make an offer.  This will include the deposit (shows good faith) so have it available in an account.  I will assist you in making sure any appropriate conditions are included such as financing, home inspection etc for your protection.

  • Once the offer has been negotiated and accepted we have a contract and the approval process starts.

  • Ask me about any extra fees or refer to one of the other sections in this area


#5 - Closing

  • Between firming up on the contract by removing the conditions in your offer and closing date you will need to get busy packing and preparing for your move.

  • Change utilities  and arrange for home insurance

  • Set up the closing meeting with your lawyer (they usually send a list of paperwork they need from you)

  • Arrange for movers or truck rental

  • Plan moving day as much as possible taking into consideration children, pets, weather delays and try to keep it as stress free as possible


Of course there are always variables in how the process takes place so staying flexible is key!  

Betty Hancey

Betty Hancey

Sales Representative
CENTURY 21 Millennium Inc., Brokerage*
Contact Me


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