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Top 10 Closing Costs When Buying a Home – #1

September 1, 2009

Number 1 – Land Transfer Tax

When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates or exemptions in some provinces.

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