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Manitoba First-Time Home Buyers: Your Legal Guide for 2025

Author: Philippe Richer

Buying your first home in Manitoba is an exciting milestone, but it also involves important legal considerations that can impact your purchase. Understanding these key legal aspects before you start house hunting can help ensure a smoother path to homeownership.

The Legal Process:

Title Insurance vs. Property Survey 

In Manitoba, you’ll need to decide between title insurance and a property survey. While many buyers opt for title insurance due to its comprehensive coverage and lower cost, some situations may warrant a full property survey. Your lawyer can help you determine which option better suits your situation.

Property Disclosure 

In Manitoba, sellers can choose to complete a Property Disclosure Statement or sell the property ‘as is.’ If they provide a disclosure statement, they must do so accurately and truthfully. However, some sellers may rely on the principle of caveat emptor (buyer beware), making a thorough home inspection even more crucial. Having your lawyer review the purchase documents and explain your rights is essential in either scenario.

Down Payment Verification

Recent updates to Manitoba’s real estate regulations require strict verification of down payment sources. Be prepared to provide detailed documentation showing where your down payment funds originated, including gift letters if family members are helping.

Land Transfer Tax 

Manitoba’s land transfer tax is calculated on a sliding scale based on your property’s value. First-time buyers should budget for this significant closing cost, as Manitoba doesn’t currently offer a land transfer tax rebate program like some other provinces.

Closing Considerations 

Your lawyer will conduct essential searches, including tax certificates and water bills, to ensure there are no outstanding issues. They’ll also review your mortgage documents and prepare the transfer of land.

Having proper legal guidance through your first home purchase can help you avoid costly surprises and protect your investment. Ready to start your home-buying journey? Contact our team for a consultation to ensure your first home purchase is properly protected.

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