What about the money? When we are ready to meet with you, we will send you an e-mail. It will contain details of the amount required to complete your purchase. This amount (shortfall funds) will include various adjustments such as property taxes, condominium fees (if required) and the amount required to pay our invoice. The shortfall funds must be in the form of a bank draft.
Once you become the owner of your new home, you may be able to enroll in the monthly property tax program. This allows you to pay your taxes on a regular monthly basis on automatic monthly withdrawal rather than one large annual payment. Two things to remember. First, you cannot enroll in the program until you are the actual registered owner at Land Titles. Second, enroll within the first few days after you become the owner of the property, otherwise, in certain circumstances, penalties can be triggered. Please note, that some lenders insist that you pay the property taxes as part of your mortgage payments. In this case, you will not be able to enroll in the monthly program directly with the municipality.