Tile Insurance, which is now commonly used, covers purchasers for losses which result from not obtaining a survey or not having an up to date survey. This means that in most cases a purchaser does not need a survey to close the transaction. Title Insurance can be obtained instead. The Title Insurance policy will usually cost about $270.00, which the vendor can be asked, or offer, to pay if a survey is unavailable (we include this in our closing cost package). So, a vendor should not agree to provide a survey unless he/she is sure he/she has one and, if so, should not agree to provide a more legible/current/complete/signed survey than is available. The purchaser can usually close with Title Insurance protection.
Buying a home - especially as an investment - can feel like learning a new…
Navigating today's shifting real estate market, some pre-construction condominium purchasers are grappling with unforeseen challenges: rising…
In real estate, an assignment sale is when a buyer assigns their interest and rights…
APS agreement of purchase and sale APS in real estate. In Toronto and across Ontario,…
Key Takeaways Closing costs come with pre-construction purchases so there is additional purchase cost. These…
Home refinancers face a number of closing costs on a refinance in Ontario. These generally…