Manitoulin Island Real Estate

Information

Buyers will discover that it is very easy to purchase real estate on Manitoulin Island.

All negotiations are done in Canadian dollars so non-residents of Canada may find The XE.com Universal Currency Converter useful. For your convenience, each detailed listing on this site also has a quick UCC conversion link.

The purchasing procedure is as follows:

1. Locate a desirable property.

2. Make an offer on paper with the assistance of the real estate agent. This can be done in person, by facsimile, or by e-mail.

3. Retain a lawyer to complete the transaction once an agreement has been reached.

4. Transfer funds to your lawyer. This can be done without having to return to Manitoulin Island. The final cost will be greater than the purchase price due to lawyer's fee, title searching fees, registration fee, transfer tax and other outlays. The transfer tax is 0.5% on the first $55000; 1.0% on portion between $55000 and $250000; 1.5% on balance over $250000.

5. Start paying property taxes.

Should you need some Canadian Topographical Maps to help with your search, you can try the following sites:

http://www.pathfindermaps.ca/
http://www.fedmaps.com/
http://www.planetmapstore.com/

The following list of telephone numbers will connect you to almost everyone that could be involved directly or indirectly with your research should you not be using the services of a real estate salesperson.

Financial Institutions
Bank of Montreal
Gore Bay Little Current Mindemoya	705 282 2490 705 368 2260 705 377 5391
Espanola & District Credit Union
Gore Bay Little Current	705 282 2511 705 368 3222
TD Canada Trust
Little Current	705 368 3110
Northland Mortgages
Manitoulin	866 724 5969

Municipal Offices
Burpee - Mills Gordon / Barrie Island Gore Bay Billings N.E.M.I Assiginack Tehkummah Central Manitoulin	205 282 0624 705 282 2702 705 282 2420 705 282 2611 705 368 3500 705 859 3196 705 859 3293 705 377 5726
Manitoulin Real Estate Lawyers
Terence Land Linda McDonald Brad Middleton Blaine Armstrong	705 282 2710 705 368 1602 705 377 5909 705 368 1460
Others
Manitoulin Planning Board Land Registry Office District Health Unit Water Well Drilling District Board of Education Ontario Land Surveyor Ontario Land Surveyor Manitoulin Chamber of Commerce Manitoulin Tourism Property Assessment Building Code Land Transfer Tax International Tax Services Canada Customs Immigration Passport Enquiries Canadian Coast Guard Canada Information Ontario Information Ontario Travel Information Manitoulin Living	705 282 2237 705 282 2442 705 377 4774 705 377 5384 705 674 3171 705 368 2221 705 869 5792 705 377 7501 705 368 3021 866 296 6722 416 585 6666 800 263 7965 800 267 5177 800 461 9999 888 242 2100 800 567 6868 866 290 3731 800 622 6232 877 817 6636 800 668 2746 866 368 2933

Canadian Mortgage Calculator

Calculate Canadian monthly mortgage payments based on purchase price, interest and term. Canadian mortgages are compounded semi-annually.

Simply enter the number of years, interest rate, purchase price and down payment. Click "Calculate Payment" and you will get a complete schedule of your required downpayment, mortgage principal, monthly payment, and what will still be owing at the end of the term.

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