Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1

Phone: 613.238.2801

Fax: 613.238.4583

email: roberthof@royallepage.ca

royal lepage

Blog

How to keep your house price secret on title

By Robert Hof

More and more buyers have been requesting that the amount they are paying for a home not show on the government’s title records. You can keep this information off your title by paying the Provincial land transfer tax in advance to the Ministry of Finance in Oshawa and by supplying the proper supporting information, including the agreement of purchase and sale, draft deed, statement of adjustments, 3 copies of the signed land transfer tax affidavit and a certified cheque for the tax owing. If your property is in Toronto, than the Toronto Municipal Land Transfer Tax can also be paid in advance, at the Toronto Revenue Services office in North York, by supplying the same information and paying the tax. Once this is completed, all that will show on your title is the sum of $1 or $2 as the purchase price. If it is your first home, you will still be entitled to the applicable first time buyer rebate.

Click here to read the article:

http://www.thestar.com/business/personal_finance/2013/09/13/how_to_keep_you_homes_purchase_price_secret.html

Leave a Reply