Real Estate
Price Guidelines for Alberta Residential Purchases
The typical legal bill for the purchase of a $ 700,000 home in Calgary with a new mortgage of $ 500,000 will now be $ 3,000 under the new Land Titles tariff and my revised fee structure.
Please note: Effective October 20, 2024 the Alberta Land Titles registration charges for both transfers and mortgages have changed. Since the 1990’s the registration charges have been $ 1.00 for every $ 5,000 of value, plus $ 50. The new tarrif is increased to $ 1.00 for every $ 1,000 of value plus $ 50.
Purchase and Assumption of Mortgage: $1000 plus GST and disbursements;
Purchase and New Mortgage: $1500 plus GST and disbursements;
Cash Purchase: $1000 plus GST and disbursements;
Disbursements for residential purchases are what I pay to others to complete transactions and include:
- Transfer registration charges: $ 1.00 per $ 1000 of value plus $ 50;
- Mortgage registration charges: $ 1.00 per $ 1000 of value plus $ 50;
- Property tax and addressing searches, Land Titles searches, encumbrance copies, in house copying, tax certificates and courier charges. These average $ 150 per file;
- Title Insurance, as required by many lenders, billed on a scale based upon value.
I will quote country acreage, farm and commercial transactions on an individual basis.
Price Guidelines for Residential Sales
The typical legal bill for the sale of a house in Calgary with one mortgage to pay out would be $1500.
My fees for most residential sales is now $ 1200, plus GST and the disbursed cost of searches, couriers, copies, estoppel certificates (condos only) and the discharge of any encumbered debt. Sellers may pay more for Real Property Reports (RPRs) and estoppel certificates, as well as issues around encroachments and development permits.
I will quote country acreage, farm and commercial transactions on an individual basis.
Price Guidelines for Residential Re-financings
The typical legal bill for re-financing an existing property in Calgary is about $1800. The legal fee starts at $1200 for a simple equity take out with a major bank. Registrations for the new mortgage and discharge of prior encumbrances are added to that and most lenders now require title insurance. GST, searches, couriers, photocopying, estoppel certificates, mortgage registration and other disbursed costs are extra.
I quote rural and commercial mortgage work on an individual basis.
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 brian@brianlester.com.