Do you know how to calculate the property transfer duties on Centris?
Property transfer duties, commonly referred to as the welcome tax, are the fees you pay when buying a property in a municipality. They are usually payable within the first few months after the purchase.
The calculation of the amount owed is based on the municipality in which the property is located and the higher amount between: the price paid for the property including the value of the goods left in the property, the sale price recorded on the deed of sale, or the total municipal assessment.
Centris.ca allows you to calculate this amount in its Calculator tool.
For more information about property transfer duties, consult the website of theOrganisme d’autoréglementation du courtage immobilier du Québec.
With the calculator tool in Centris.ca, you can now properly prepare your budget before buying a new home.