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How to Keep Your Home’s Purchase Price Secret

London, Ontario Area

Clients often ask whether I can keep the price they are paying for their home off the title record. The main reason is for privacy. They don’t think it is anybody’s business but theirs.

You can do it if you pay the land transfer tax in advance. The tax is usually paid by your lawyer, but you can do it yourself.

If that’s the case, you must include these documents with your request:

• A cover letter from the lawyer;
• A copy of the original agreement of purchase and sale; 
• The draft deed to be registered on closing; 
• A copy of the statement of adjustment; 
• Three signed land transfer tax affidavits; and 
• A certified cheque payable to the Ministry of Finance for the amount of land transfer tax owing.
The Ministry of Finance will then provide your lawyer with a special code to be entered on closing, to confirm that the land transfer tax has already been paid. The Ministry suggests that all materials be sent three weeks in advance of closing to make sure it is completed in time. If you go in person to the Ministry of Finance office, you should be able to obtain the code that same day.

519-471-8888    London, ON
Sutton Preferred Realty Inc., Brokerage
Independently Owned and Operated
181 Commissioners Rd W
London ON
N6J 1X9
Copyright © 2007 Joyce Byrne Realtor
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