Ijara financing closing costs and what you’ll be expected to pay on that day
After you’ve signed on the dotted line and have the ijara financing in place to get a home of your own, the process has only really just begun. That Ijara loan allows you to start the process of looking for some real estate but there are some other finances you need to look after even after you’ve found the right place. For example, following are a list of the closing costs you’ll need to look after on the day that you get the keys to your new house.
- Insurance. Your new home wont close unless you’ve paid this. Fire and liability insurance are necessary parts of the equation and you can’t get inside until these aspects have been looked after.
- Lawyer’s Disbursements. These fees are usually on top of the lawyer’s fees and can run as much as $250 to $600 extra.
These are generally the costs of the smaller but necessary things the lawyer does on your behalf like a title search and even the cost of courier fees and photocopying.
Of course everything that you need to know about when it comes to ijara financing is covered on our Canadian and American websites. You can even have a read through the information we provide on taxes and deductibility.
