Ghassan Baaklini | Residential Real Estate Broker
Costs to Expect When Signing the Deed of Sale
Costs to Expect When Signing the Deed of Sale
In addition to the purchase price of the property, certain costs will need to be covered at the time of signing with the notary.
Notary Fees
Notary fees are generally the buyer's responsibility.
Tax Adjustments
As of the possession date, an adjustment will be made between the buyer and the seller for taxes already paid, including:
- Municipal taxes
- School taxes
Oil Tank (if applicable)
If the property is heated with oil, the seller will have the tank filled before the signing of the deed of sale. The buyer will reimburse the cost of the fill-up upon presentation of the invoice.
Transfer of Public Utilities
Both the buyer and the seller must notify Hydro-Québec and the gas supplier, if applicable, of the date of the ownership change so that meter readings can be taken and billing can be properly allocated.
Home Insurance
Before the signing of the deed of sale, you will need to provide proof of valid home insurance covering at least the amount of your mortgage.
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