Buying a property in Canada has its own nuances that every newcomer should pay close attention to.

Canada - The International Gateway

Canada is home to over 34 Million people and every year, it welcomes over 300,000 new immigrants from around the globe. Buying a property in Canada has its own nuances that every newcomer should pay close attention to. Good news is Sotheby's International Realty Canada while a boutique Brokerage, operates in all major cities across Canada including Toronto, Vancouver, Montreal, and Calgary. We are also located in other popular locations such as Oakville, Mississauga, Victoria, Whistler, Niagara-On-The-Lake, and Ottawa. 


All offices provide full brokerage service for both residential listing and buying clientele. The offices are also able to provide service in many different languages. The Home With Usman Team is fluent in English, Hindi, Punjabi, and Urdu

Buying Process

STEP 1: Ensure you have financing available and funds are accessible for your purchase

STEP 2: Determine budget, area(s) of interest, and required property features

STEP 3: Contact Sotheby's International Realty by visiting or by calling us

STEP 4: Meet with an agent to discuss your needs and assess properties to view

STEP 5: Property Viewings

STEP 6: Make an offer, reviewing all material facts pertaining to the property

STEP 7: Agree on terms and subject conditions (if any)

STEP 8: Provide a deposit as per the agreed terms of the agreeement. Typical deposits required range between 5% - 25% depending on the property type and location

STEP 9: Complete the sale, paying the balance of the purchase price through cash or financing or a combination of both

STEP 10: Take possession of the property

Costs Associated With Buying A Property In Canada


Approximate Cost: $150-$350

This is the fee for determing the property lending value for mortgage purposes. This value may or may not be the same as the purchase price of the property. 


Approximate Cost: $500-$700

The home inspector evaluates the structure and systems that make up your home and provides you with a written report. While not mandatory, many people make a professional home inspection as a condition of their offer to purchase.


Approximate Cost: $750-$1,000

A survey indicates the boundaries and mesasurements of the land and positions of major structures, and any registered or visible easements (e.g. driveway) or encroachements (e.g. neighbour's fence) on the property.


Varies based on Province

This is charged whenever a property changes hands and is based on the purchase price. Most provinces in Canada charge a land transfer tax and some cities (e.g. Toronto) also charge a municipal land transfer tax. In some case, first time home buyers may be exempt from a portion of this cost. You can obtain further details about the land transfer tax on provincial or municipal websites to help you estimate the cost.

The areas of Greater Vancouver and Greater Toronto have imposed a new transfer tax of 15-20% to buyers who are not Canadian citizens or permanent residents of Canada. This is paid in addition to the standard land transfer tax rates in the area.


Approximate Cost: $1,000-$2,500

These costs vary by province and are subject to GST or HST where applicable. Ensure your lawyer's quote includes all related expenses and disbursements, not just legal fees. Make sure your interests are protected by discussing your Offer to Purchase with your lawyer or notary prior to signing.


Varies based on Province

Some properties are GST and/or HST sales tax exempt and some are not. Generally, GST or HST where applicable is charged on new homes, but not on resale properties. Always ask before signing an offer.


Approximate Cost: $250-$300

Title insurance is optional and covers problems that may arise due to encroachment issues, existing liens against the property's title, title fraud, undischarged mortgages, and other issues relating to the property's previous owners.



Usually, mortgage default insurance premiums range between 0.6% and 4.50% of the principal, plus applicable fees (may be subject to provincial sales tax which cannot be added to the mortgage amount).


Cost Varies

Commission rates vary and this cost is typically borne by the Seller, although sometimes buyers are required to pay a commission. Speak to your Realtor to confirm.


Approximate Cost: $100-$1,000

You will need to pay interest on any gap between the closing date of the purchase and the first payment date of the mortgage. You can avoid an interest adjustment by arranging to make your first mortgage payment exactly one payment period after your closing date.


Cost Varies

You will be required to reimburse the vendor for any prepaid property taxes or utility bills 

Allow Us To Serve You

The Usman Group is committed to delivering legendary service and tailored strategy for our clients moving to the Greater Toronto area from across the globe.

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