When buying a home a certain portion of the purchase will be from savings – this is what is referred to as the down payment. The rest will be financed and in most cases will be via a mortgage. However there will be additional expenses incurred as various inspections are conducted, the mortgage is registered and the title is transferred. These expenses are known as closing costs and must be paid before the home can be considered sold. Therefore, saving on ‘closing costs’ while buying a home is often questioned.
So can you cut closing costs and save money when buying a home?
First, a bit more detail on what these costs entail. In Saskatchewan, most of the costs consist of two parts. The first is a non-negotiable fee charged by the province when
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