Real Estate
Price Guidelines for Alberta Residential Purchases
The typical legal bill for the purchase of a $400,000 home in Calgary with a new mortgage of $300,000 would be $1600.
PLEASE NOTE: THE 2015 ALBERTA PROVINCIAL BUDGET HAS PROPOSED SIGNIFICANT CHANGES TO THE DISBURSED COST OF DOCUMENTS AND REGISTRATION COSTS IN ALBERTA LAND TITLES. ASSUMING THE BUDGET IS PASSED UNAMENDED, WHICH, AS OF MAY 4, 2015 SEEMS UNLIKELY, DISBURSEMENTS FOR REGISTRATIONS WILL INCREASE APPROXIMATELY FIVE TIMES ON JUNE 30th. STAY TUNED……..
Purchase and Assumption of Mortgage: $1000 plus GST and disbursements;
Purchase and New Mortgage: $1000 plus GST and disbursements;
Cash Purchase: $850 plus GST and disbursements. Disbursements include the out of pocket costs of the following:
- Transfer registration charge: $1.00 per $5000 of value plus $50
……paid to Land Titles; - Land titles searches, Property tax searches, photocopying and
……courier charges (approximately $150 altogether); - Mortgage registration charge: $1.00 per $5000 of value plus $50;
- Title insurance rates vary based upon value.
I quote rural and commercial purchase 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 $ 1000.
My fee for most residential sales is $ 850, 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.
Commercial and rural transactions will be quoted on request.
Price Guidelines for Residential Re-financings
The typical legal bill for re-financing an existing property in Calgary is about $1200. The legal fee starts at $850 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 info@brianlester.com.