Legal Fees and Disbursements

Real Estate

Price Guidelines for Alberta Purchases

The typical legal bill for the purchase of a $400,000 home with a new mortgage of $300,000 would be $1500.

Purchase and Assumption of Mortgage: $750 plus GST and disbursements;

Purchase and New Mortgage: $1000 plus GST and disbursements;

Cash Purchase: $750 plus GST and disbursements. Disbursements include the out of pocket costs of the following:

1.  Transfer registration charge: $1.00 per $5000 of value plus $35
   ……paid to Land Titles;
2.  Land titles searches, Property tax searches, photocopying and
   ……courier charges (approximately  $100 altogether);
3.  Mortgage registration charge: $1.00 per $5000 of value plus $15;
4.  Title insurance rates vary based upon value.

Price Guidelines for Sales

The typical legal bill for the sale of a house with one mortgage to pay out would be $850.

My fee for most residential sales is $650, GST and the disbursed cost of searches, couriers, photocopies and the discharge of encumbered debt are extra. Sellers may pay more for real property reports (surveys), estoppel certificates in condominium sales and other security and development problems.

Price Guidelines for Re-financings

The typical legal bill for re-financing an existing property is about $900. The legal fee starts at $650 for a simple equity take out with a major bank. The costs may increase with smaller lenders. GST, searches, couriers, photocopying, estoppel certificates, mortgage registration and other disbursed costs may be extra.

Incorporations

An incorporation of an Alberta company with a name and seal typically costs about $1000, inclusive of name searches, registration charges, minute book and pocket seal. Remember that this includes my advice about the rights and obligations of shareholders, directors and officers…something you do not get at the local registry.

Call or e-mail for individual quotes:

My phone number is (403) 243-0040 and my email is info@brianlester.com.