Gerry Gatto is a licensed real estate lawyer who works specifically with real estate investors. In this Rock Star Minutes, he shares some key things every investor needs to know about closing on a property in Ontario. There's something in this video for everyone - whether you're closing on your first property or 10th!
We cover...
- Closing costs in Ontario - What do they consist of, how can you save money on them, and how much does it cost?
- Title Insurance - What is it, why it's important, and how it protects you and your bank?
- Mortgage insurance - What is due on closing?
- Mortgage Payment Frequency - How do mortgages accrue, how to pay your mortgage down much faster and save on interest, when you want to pay your mortgage down as an investor vs a homeowner?
- Key Pick Up - How it works, and what you need to know as a seller and as a buyer
- After Closing - What to do if there are unpaid utility bills and/or property taxes, or issues with the property after you close