Practice Areas

Purchasing or selling a home is one of the most important transactions we enter into in our lives. Here at GS Brar Law, we understand the stress that can come along with this process and are committed to providing a smooth experience to our clients. In addition, we're here to help you with commercial real estate, land acquisition, and transfers of title.

If you cannot make it to our office, one of our team members will be happy to meet with you at a location of your choice.

- G.S. Brar

Gurjiwan Singh Brar

What should I bring to our appointment?
You should bring a valid government issued ID. We recommend that you bring your driver's license, passport, or permanent resident card. If you're selling your home, bring a copy of your most recent property tax bill and mortgage statement.

Lastly, we recommend that you email us a copy of your Agreement of Purchase and Sale before our meeting. If that's not possible, remember to bring it to the appointment.

What do I need to do leading up to my closing?
If you're purchasing, remember that you have to obtain fire insurance for your new property. If you're obtaining a mortgage, the lender also needs to be noted as a loss payee on the policy and you will want to ensure that the policy provides for "guaranteed replacement cost" as this is a requirement of most lenders. In addition, you should advise utility companies that you will be moving into your new property as of your closing date.

Lastly, we will meet with you shortly before your closing date to review your file and to have you sign documents.

What are the hidden costs of buying a property?
When purchasing a property, keep in mind that you will have to pay land transfer tax. If you're obtaining a mortgage, your lender may also require you to purchase mortgage default insurance and title insurance. Lastly, you will also be responsible for government registration and title search fees.

How do I calculate Land Transfer Tax?
In Ontario, Land Transfer Tax is calculated as follows:

amounts up to and including $55,000: 0.5%
amounts exceeding $55,000, up to and including $250,000: 1.0%
amounts exceeding $250,000, up to and including $400,000: 1.5%
amounts exceeding $400,000: 2.0%
amounts exceeding $2,000,000, where the land contains one or two single family residences: 2.5%. 

Example:

For a transfer of land in which the value of the consideration equals $300,000:

multiply $55,000 by 0.5% (55,000 × 0.005) = $275
multiply the amount exceeding $55,000 up to $250,000 by 1.0% (195,000 × 0.01) = $1,950
multiply the amount exceeding $250,000 up to $300,000 by 1.5% (50,000 × 0.015) = $750.
Total land transfer tax payable = $2,975.

I'm only available on evenings and weekends. Can you still meet with me?
We offer after-hours and weekend appointments. In addition, we offer mobile services for clients who cannot make it to our office.

FAQ | Frequently Asked Questions

Copyright © 2020 GS Brar Law. All rights reserved.

647-247-1508

GS Brar Law is committed to being a bold, innovative, and approachable firm that provides excellent legal services and gives back to the community.

We are here to help! Let us know how we can lend a hand and we will be in touch within 5 business hours.

Why Choose Us

Lawyer and Founder

Testimonials

GS Brar Law is committed to being a bold, innovative, and approachable firm that provides excellent legal services and gives back to the community.

We are here to help! Let us know how we can lend a hand and we will be in touch within 5 business hours.