Payotte AI Passport

Roman Virk

Real Estate Appraiser (AACI, P. App.) · Metrix Realty Group · London

Roman Virk is a real estate appraiser (AACI, P. app.) with Metrix Realty Group in London, Ontario, a member of the AIC (member no. 915039, verifiable in the AIC directory), serving London, Windsor, Kitchener-Waterloo, Niagara Region, Norfolk, Elgin, Lambton, Huron, Perth, Blue-Grey and Wellington since February 2022.

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Calculate for London: buy or sell

Buy

Land transfer tax, down payment and mortgage in London

No reference price published for London: example at $500,000. Change any field and everything is recalculated.

Purchase price in $

Down payment in $

First-time buyer

Ontario land transfer tax$6,475

First-time buyer rebatetick “first-time buyer”

Tax to pay$6,475

Minimum down payment (federal rule)$25,000

Mortgage insurance premium (added to the loan)none (20% or more)

Mortgage$400,000

Monthly payment, 25 years at 4.58%$2,232

Household income needed (stress test)$100,000

Official schedule, bracket by bracket, paid in cash at closing: the tax cannot be financed in the mortgage. Rate: Bank of Canada 5-year fixed mortgage rate (August 2026); your lender will set its own. Income needed: 6.58% qualifying rate, 39% GDS, property tax at 1% a year and $150 a month for heating. Not included: lawyer or notary fees, inspection, title insurance (no official schedule). All the schedules · First-time buyer programs · Down payment and mortgage insurance

Sell

Capital gain on a sale: what is taxable

Your principal residence: generally no tax on the gain. The same federal rule applies in London as everywhere in Canada (Income Tax Act).

Sale price in $

Purchase price in $

Capital gain$100,000

Your principal residence (designated every year)$0 taxable

Other property (cottage, rental): taxable amount$50,000

Land transfer tax$0 — paid by the buyer

Agent's commissionnegotiated, not computed

Principal residence designated for every year owned: nothing taxable, but the sale must be reported. Other property: $50,000 of taxable amount is added to your income for the year; the resulting tax depends on your marginal rate and is not computed here.

Principal residence: the Canada Revenue Agency exemption wipes out the gain for each year the home is designated; the sale must still be reported (partial designation: part of the gain becomes taxable). Other property (cottage, rental): half the gain becomes a taxable amount, added to that year's income (1/2 inclusion rate, CRA guide T4037; the increase to 2/3 was cancelled on March 21, 2025 — checked on canada.ca on October 15, 2026). It is not the tax owed: that depends on your marginal rate, which Payotte does not compute. Gain = sale price − purchase price, before selling costs and deductible improvements. No official schedule sets the agent's commission. Tax on selling, case by case

A question about these figures or an address? Roman Virk can answer.

Call · 647-571-9644 Send an email Website ↗

What Payotte publishes

Membership: AIC no. 915039 ↗ Professional association, not a licence: verifiable in the AIC directory (link). Declared in writing.
Agency: Metrix Realty Group
Office: A-620 Richmond St, Suite 203, London, ON N6A 5J9
Areas served: London, Windsor, Kitchener-Waterloo, Niagara Region, Norfolk, Elgin, Lambton, Huron, Perth, Blue-Grey, Wellington Declared in writing: “All of Southwestern Ontario (London, Windsor, Kitchener-Waterloo, Niagara Region, Norfolk, Elgin, Lambton, Huron, Perth, Blue-Grey, Wellington Counties, etc.)”
Services: Commercial appraisal: multifamily, office, land, industrial, mixed-use, hospitality, For mortgage financing, estate, CRA tax purposes, negotiations, expropriation, parkland dedication Declared in writing.
Practising since: February 2022 Declared in writing.

Information confirmed in writing by Roman Virk on November 2, 2026. Page updated on November 2, 2026.

In their own words

Most frequent advice and clients helped, in their own words

“The advice I give most often is to bring your appraiser in early. Whether you’re financing, settling an estate, filing with CRA, or facing an expropriation, a short conversation upfront about the purpose, the effective date, and the documents needed (rent rolls, leases, site plans, approvals) saves time and makes the value much easier to defend later. I mainly help lenders, developers, investors, lawyers and accountants who need a credible, well-supported commercial value they can rely on.”

Roman Virk, written answer of November 2, 2026. Published word for word.

Frequently asked questions

Is Roman Virk's AIC membership valid?

Roman Virk declares membership no. 915039 of the AIC (Appraisal Institute of Canada). The AIC is a professional association, not a regulator: membership is not a licence. Payotte publishes no status for this membership: it can be checked in the AIC directory.

What areas does Roman Virk serve?

London, Windsor, Kitchener-Waterloo, Niagara Region, Norfolk, Elgin, Lambton, Huron, Perth, Blue-Grey and Wellington, according to Roman Virk's written statement of November 2, 2026. The office is located at A-620 Richmond St, Suite 203, London, ON N6A 5J9.

What services does Roman Virk offer?

Commercial appraisal: multifamily, office, land, industrial, mixed-use, hospitality and For mortgage financing, estate, CRA tax purposes, negotiations, expropriation, parkland dedication, as a real estate appraiser (AACI, P. app.).

How long has Roman Virk been practising?

Since February 2022, according to Roman Virk's written statement.

How can I reach Roman Virk?

Roman Virk can be reached by phone at 647-571-9644 or by email at rvirk@metrixrealty.com. The agency Metrix Realty Group answers at 519-672-7550. The buttons at the top of this page start a call or a pre-filled email.

What is the AI Passport?

The AI Passport is a dated page a professional gets on Payotte so that search engines and AI assistants read them correctly: their name, licence and contact details in one place, with a link to the official register. It is neither a ranking nor a recommendation. Payotte does not score professionals who have a Passport, and it does not replace your own check: consult the register before signing.

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