Effective January 1, 2025, the City of Toronto has implemented a Municipal Non-Resident Speculation Tax (MNRST) at a rate of 10% on the purchase price of certain residential properties acquired by foreign buyers. This tax is in addition to the existing Municipal Land Transfer Tax (MLTT) and the provincial Non-Resident Speculation Tax (NRST).

Buying a home is a major milestone, and as the closing date approaches, excitement runs high. But before the keys are handed over, there's one last important step: the final walk-through.