Understanding your complete financial commitment when buying a house is crucial, and our Closing Cost Calculator is designed to assist with this. It provides detailed estimates for various transactions, whether you are purchasing, selling, refinancing, or need to calculate title insurance and land transfer taxes.
At Shaikh Law Firm, we are committed to transparency, offering clear insights into legal fees and disbursements in Ontario. Use our calculator to quickly determine the costs associated with any real estate transaction, ensuring clarity and confidence in your financial decisions.
Closing costs calculator when buying a propertyProperty Purchase Price Type of Property Where is the Property Located First Time Home Buyer Are You Obtaining Mortgage/Financing Full Name Phone Number Email |
Closing costs calculator when selling a propertyProperty Sale Price Type of Property Are You Paying Off a Mortgage/ Loan Full Name Phone Number Email |
Closing costs calculator for refinanceRefinance/ Mortgage/ Loan Amount Type of Property Are you Paying off a Mortgage Full Name Phone Number Email |
Closing Costs for Purchase: When buying a property, budget for key expenses: Legal Fees (services like contract review and title transfer), Disbursements (costs your lawyer pays on your behalf such as title registration), Title Insurance (protection against title defects), and Land Transfer Tax (based on the purchase price, varies by location). Understanding these fees ensures no surprises and helps manage your finances effectively. A Non-Resident Speculation Tax (NSRT) of 25% may apply to the purchase price if you are not a Canadian citizen or a permanent resident.
Closing Costs for Sale: Selling a property involves several key expenses. Legal Fees cover your lawyer’s services, such as drafting the deed of sale and handling the closing documents. Disbursements include costs related to obtaining necessary certificates and ensuring all legal requirements are met. Realtor Commissions, typically a percentage of the sale price, are paid to your real estate agent for facilitating the sale. Additionally, if you have an existing mortgage, Mortgage Discharge fees may apply. Understanding these costs upfront helps you accurately calculate your net proceeds from the sale.
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(905) 795 7757
info@slclawyer.ca
(905) 795 7757
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