Home Page

Contact Us
Real Estate Lawyer Toronto Home Legal Services
who we serve - toronto home buyers and sellers looking for reliable and experienced real estate lawyer
why choose real estate lawyer toronto
toronto real estate lawyer client testimonials
toronto real estate legal articles help advice
contact information locations
get a free quotation for all your legal fees & disbursements
Quick Access
See All our Helpful Articles

What We Do

Articles & Forms

 

Live Personal Support till 11PM 7 Days a Week We know it's hard to change your schedule to meet with lawyers, so we changed our hours to serve you better.
10 Languages Served

8 Toronto Locations

Downtown Toronto
Scarborough
Willowdale
Woodbridge
Richmond Hill
Markham
Etobicoke

Tel (416) 730-2833

Maps & Hours

Recommend This Page

Helpful Information

Closing Adjustments on Residential Real Estate Closing

Get a Free Quote

Get a free online quote and know your full legal costs up front, including title insurance and land
real estate legal fee quote toronto
transfer taxes. Then print out the quotation certificate and phone one of our 6 locations to provide your preliminary personal information.

An Agreement of Purchase and Sale states that the balance of the purchase price on the closing date will be paid by certified cheque subject to the usual adjustments. The certified cheque required from purchasers by the law office for closing will include any such ADJUSTMENTS payable on closing.

ADJUSTMENTS BETWEEN PURCHASER AND VENDOR (RESALE):
On a resale home, adjustments consist of items already prepaid beyond the closing date by the seller that benefit the purchaser after the closing date, which are pro-rated, and a credit is given to the seller as an adjustment on closing. Some examples of closing adjustments on a resale home are for prepaid realty taxes, prepaid condominium fees (if the property purchased is a condominium), and fuel oil (if property has an oil furnace).

ADJUSTMENTS BETWEEN PURCHASER AND BUILDER (NEW CONSTRUCTION):
On a new home purchased from a builder, closing adjustments are greater than on a resale home since adjustments (when buying from a builder) can include hydro and water meter installation costs, Tarion New Home Warranty Enrolment Fee, boulevard tree planting, driveway paving, grading deposit, gas water heater, educational lot levy, municipally required fencing (if needed) and many other items which are not normally adjusted when one buys a resale property.

 

Please click here for a FREE Quote

 

Terms of Use | Privacy Statement
Copyright 2011 RealEstateLawyerToronto.com
All rights reserved

 

toronto web design
internet marketing toronto web design
internet marketing