Stephen Tan | 778-389-7799


Closing Cost:

Purchase price: Varies
However , if you are buying a new home, 5% GST is applicable to the purchase price.

Home Inspection: $450-$750
I always recommend the buyer to do a home inspection before a deal is finalized. A home inspector will check through the property, and will sit down with you and go through a checklist of things about the house that need to be aware of, whether good or bad. This cost is paid by the buyer at the time of inspection.

Legal Fee: $650-$ 1500
Once the deal between the buyer and the seller is firmed, the paper work is sent to a lawyer or a notary public at your choice for processing, including mortgage registration and title transfer. You will need to sign some documents on completion day.

Property Transfer Tax: Varies
This tax is charged by the Provincial Government based on the purchase price of the property: 1% of the first $200,000 and 2% on balance. You may be exempt fro the PTT if you are first home buyer.

Mortgage Appraisal Fee: $200-$300
The lending institution usually requires an appraisal done on the property you purchased. Often the cost of appraisal is waived but nor always.

Land Survey: @250-$500
A legal survey may be required by the lender.

CMHC Loan Insurance: Varies
For the high ratio mortgage(lower than 20% down), the buyer is required to purchase loan insurance from CMHC. The cost of insurance is based on the percentage of the down payment.



Stephen Tan
Cell:778-389-7799
Office:604-263-7833
Fax:778-234-0168
Homeland Realty
#200 - 8168 Granville Street
Vancouver, BC
V6P 4Z4 CA