Closing Costs Ontario Buying a Property-min

Closing Costs in Ontario when buying a Property

Closing costs are generally referred to as Fees, Expenses, and Costs that would need to be paid at the time of home purchase in additional and on top of a purchase price. Closing costs when buying a house or a Condo varies from City to City and Province to Province in Canada. It is crucially important to budget for closing costs when buying a property because it is an additional expense on top of moving expenses. An estimate of closing costs would range between 2.5%  to 4% of the purchase price but this is not always accurate. The mandatory closing  are which apply in every home buying transactions are

Real Estate Lawyer Fees including Disbursements $810 + Tax
Land Transfer Tax (Property Value) 2%  Max
Title Insurance $1 to $1000 so property worth $500,000 $500
Registration of Transfer $75.63
Registration of Mortgage $75.63