Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What other upfront costs should I budget beyond the down payment?

Beyond the down payment, budget legal fees of $800 to $1,500, a home inspection at $400 to $600, title registration through ISC, and PST on your mortgage insurance premium if putting down less than 20 percent. CMHC, Sagen and Canada Guaranty are the three insurers, and Saskatchewan charges that PST in cash at closing.

The insurance PST is the cost buyers most often miss, because the premium itself gets added to the mortgage but the provincial sales tax on it does not. That is a cash amount due at possession, on top of your down payment and legal fees.

Your lawyer's fee covers reviewing title through ISC, registering the mortgage and handling the funds at possession, and it is separate from any real estate commission, which is negotiated between the seller and the REALTORS® involved rather than charged to the buyer directly.

Joel Dyck walks every buyer through this full list before they write an offer. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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