These are separate from disbursements. Ask your agent, who will be able to refer you to reliable professionals.
Place up to $20,000.00 per person of your down payment in a short term RRSP to be held for at least 90 days, or until closing.
On your mortgage, you will save the most money if you opt for an accelerated Bi-weekly payment plan, or if you double up one payment per year. This will shorten your amortization periods by over 6 years!
When you have a down payment that is almost 20%, it is usually less expensive to arrange a first and second mortgage and save on CMHC insurance fees.
The most advantageous situation is to purchase the worst home in a good area, rather than the best house in the worst area. “Location, Location, Location” is true!
A home inspection with a qualified engineer costs about $500.00 (approx). It could very well be your best money spent. You want to know exactly what you are bidding on.
A pre-approved mortgage can be done for 90 days for FREE. You can usually negotiate your mortgage rate between 1/2-1% off the posted rates with your lender.
Sellers tend to give less of a counter offer (closer to list price), if they feel insulted. Understand the current market value of the home and comparable SOLDS.