jordan@jtoverholt.com
+1-226-926-9007

MORTGAGING A PROPERTY

Let us take the stress out of refinancing.

MORTGAGING A PROPERTY

$1000.00 Single-Family Residence Refinance Package + Title Insurance

Our legal fee includes:

  • An initial appointment to discuss your upcoming real estate refinance transaction.
  • A review of mortgage instructions for one mortgage.*
  • A title search of your property (budgeted at a cost of $97.00 – please see below for more details).**
  • Arranging for a payout of one existing mortgage (if applicable)*, excluding the cost to discharge said mortgage.***
  • The drafting of all necessary closing documents.
  • A second out-of-office appointment to sign your closing documents.
  • The paying out of one existing mortgage.***
  • The registration of one new mortgage.
  • A final out-of-office appointment to deliver your net refinance proceeds.

Note that this quote is for the work involved in a straightforward real estate refinance transaction. On or before closing, should any additional debts need to be paid, or should any other adverse event arise, additional legal fees may apply.

* The Single-Family Residence Refinance Package includes a budget for the receipt, review, document preparation, and registration of one new mortgage. If you require the registration of additional mortgages, lines of credit, bridge loan security, assignment of rents, etc., additional legal fees and disbursements will be added to your invoice over and above the cost of the Single-Family Residence Refinance Package.

** The Single-Family Residence Refinance Package includes a budget of $97.00 for the requisite title search. If your property requires a more expensive title search, any cost above the budgeted $97.00 will be added to your invoice over and above the cost of the Single-Family Residence Refinance Package.¬†At the same time, if your title search comes in at a cost of less than $97.00, we will pass those savings onto you. Please remember that the title search is often the most unpredictable cost in a refinance transaction, and, as a result, we’ve budgeted high to be on the safe side. Oftentimes, clients end up saving money on this package component.

*** The Single-Family Residence Refinance Package includes a budget for the investigation and payout of one existing mortgage. If you require the payout of additional mortgages, lines of credit, bridge loan security, notices of security interest, etc., additional legal fees and disbursements will be added to your invoice over and above the cost of the Single-Family Residence Refinance Package.

**** Please note that a separate charge of $50.00 + HST will be added to your invoice for each additional debt (credit card, line of credit, vehicle loan, etc.) that we are required to pay.

$1,125.00 Condo Refinance Package + Title Insurance

Our legal fee includes:

  • An initial appointment to discuss your upcoming real estate refinance transaction.
  • A review of mortgage instructions for one mortgage.*
  • A review of your status certificate.**
  • A title search of your property (budgeted at a cost of $97.00 – please see below for more details).***
  • Arranging for a payout of one existing mortgage (if applicable)*, excluding the cost to discharge said mortgage.****
  • The drafting of all necessary closing documents.
  • A second out-of-office appointment to sign your closing documents.
  • The paying out of one existing mortgage.*****
  • The registration of one new mortgage.
  • A final out-of-office appointment to deliver your net refinance proceeds.

Note that this quote is for the work involved in a straightforward real estate refinance transaction. On or before closing, should any additional debts need to be paid, or should any other adverse event arise, additional legal fees may apply.

* The Condo Refinance Package includes a budget for the receipt, review, document preparation, and registration of one new mortgage. If you require the registration of additional mortgages, lines of credit, bridge loan security, assignment of rents, etc., additional legal fees and disbursements will be added to your invoice over and above the cost of the Single-Family Residence Refinance Package.

** It costs $100.00 to order a status certificate. However, if you or your realtor have already ordered a status certificate, and if that status certificate will be less than 90 days old on your closing date, JTOverholt can use it and save you this additional $100.00 cost.

*** The Condo Refinance Package includes a budget of $97.00 for the requisite title search. If your property requires a more expensive title search, any cost above the budgeted $97.00 will be added to your invoice over and above the cost of the Condo Refinance Package.

**** The Condo Refinance Package includes a budget for the investigation and payout of one existing mortgage. If you require the payout of additional mortgages, lines of credit, bridge loan security, notices of security interest, etc., additional legal fees and disbursements will be added to your invoice over and above the cost of the Condo Refinance Package.

***** Please note that a separate charge of $50.00 + HST will be added to your invoice for each additional debt (credit card, line of credit, vehicle loan, etc.) that we are required to pay.

What Is Title Insurance?

Title insurance is an insurance product that protects homeowners and lenders from title fraud and other out-of-the-ordinary closing complications.

Because the cost of a title insurance policy varies with a transaction’s mortgage amount, please click here to obtain an approximate policy quote based on your unique circumstances. And please remember that said quotes are subject to change by the title insurer at any time.

Where Do We Meet To Sign The Closing Documents?

Forget fighting through downtown traffic so you can drop into our office for a ten-minute signing appointment. Instead, enjoy the ease of us coming to you.

As your closing date approaches, we’ll contact you to book an appointment, and then we’ll meet you wherever you want within the greater London area (your place of business, your home, or even a coffee shop) to collect your signature.

Or, if you’d prefer, we have a downtown office we’d be happy to meet you at instead. It’s totally up to you!

Once your transaction has been completed, we’ll arrange delivery of your net refinance proceeds too!