Summary of Buyer Closing Costs

Summary of Buyer Closing Costs


  1. Survey

If the seller should not provide you with an acceptable survey in the Agreement of Purchase and Sale, a new survey will cost approximately $800. Title insurance is a good alternative

  1. Land Transfer Tax

Payable on all purchases: see separate section

  1. Legal Fees

Legal fees may vary according to the lawyer. Make sure you ask what the fee includes. Approximately $750 and up plus disbursements.

  1. Disbursements

There will be other costs which the lawyer will have to pay on your behalf, i.e. registration fees, photocopies, etc. Up to $500 will be less with title insurance

  1. Title Insurance (optional)

A title insurance policy can be purchased to insure oneself against any loss occasioned by a defect in title, an adverse claim or as an alternative to a survey. Cost is approximately $200. This will reduce the cost of closing disbursements substantially.

  1. Statement of Adjustments

Buyer and Seller are each responsible for their share of taxes, fuel and utilities.

  1. Home Insurance

Home insurance varies from one insurance company to another. Contact your broker for rates. Approximately $600-$700 can be paid annually on an average 3-bedroom, single-family home.

  1. Mortgage Application

Processing fee – Approximately $150. This is often waived.

  1. Mortgage Appraisal

Approximately $200.

  1. HST

Most residential re-sale homes are exempt from HST. However, most services involved with the transaction will be subject to HST, such as:

  • Lawyer’s fees
  • Appraisals
  • Processing fees
  • Home Inspections
  • Insurance
  • Moving cost etc.
  • Real Estate fee