Purchase - No Mortgage
You are buying a property (new or resale) with your own funds (also known as a cash purchase). You are not borrowing any funds and you are not registering a HELOC at the time of purchase.
Have you been referred by a preferred partner?
(Your realtor/broker provided JKB Law to you)
This is an estimate and we do our best to come up with the most accurate estimate possible. You may choose to also purchase title insurance, for which there is an additional cost of approximately $200-300 (varies). You can get a quote for title insurance by following this external link to Stewart Title, which is one of the major title insurers https://www.stepsonline.ca/quote/calculatorview. This fee does not include any additional titles (for example if there is a titled parking spot or storage unit). We charge third-party costs (courier, land title fees, etc), known as disbursements, at cost. There are no markups, and the actual costs of couriers can vary depending on the distance and type of service. Our estimate is based on average costs. Please note that there is a $300 surcharge each for additional work required for bridge financing, builder new condominium purchases, and short notice transactions where instructions are received less than 5 business days before closing. There is a $100 surcharge for multiple/separate signing appointments and remote/video signings due to the additional requirements by the Law Society of Alberta to complete the same. Please note that Alberta Land Title Office has announced an increase in land title fees effective October 20, 2024, and the calculator has not been updated yet to reflect this increase.
Our legal fees include standard conveyancing (receive realtor instructions, preparing documents, meeting with you to sign paperwork, and receive/distribute funds). This standard fee does not include any disputes regarding the purchase contract, or anything outside the scope of the steps required for a standard purchase deal with no mortgage. If you decide to register a mortgage or a home equity line of credit (HELOC) at the same time, then we will need to charge additional fees for that service.
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