Closing CostsThere are many additional closing costs associated with closing a transaction which must be anticipated ahead of time to ensure these amounts are accounted for within your budget.  For further information on these costs, please reference my Buyer Information Package or email me directly.

Land Transfer Tax

When purchasing a property in Toronto, the buyers are responsible to pay both the Provincial and Municipal Governments a land transfer tax upon closing.  It must be noted that these fees cannot be lumped into your mortgage, charged to a credit card or line of credit.  The fees are due in certified dollars, so it’s important to include these costs into your budget when starting to shop around for a property.  Please reference the Toronto Land Transfer Tax Calculator under my ‘References’ tab at the top of my website to calculate the tax due for your specific purchase amount.

If you are a first time home buyer, and have not owned any interest in any property anywhere in the world, you may qualify for rebates from both the Provincial and Municipal governments.  The rebate amount is based on your purchase price up to a maximum of $400,000.

Legal Fees and Disbursements

Real estate lawyers are responsible for the closing of your transaction, and as such a fee is associated with their services.  On a typical real estate purchase, the fee will likely be $1500 or more depending on the type of property.

Disbursements are additional fees charged by your lawyer for things like tax certificates, photocopies, couriers, zoning clearance and work orders, registering of the deed and mortgages, status certificates (for condominium purchases) and other incidentals.  These fees are often in the $600-800 range, but can vary depending on each transaction.

For a list of recommended real estate lawyers, please email me directly.

Title Insurance

An alternative to an up-to-date survey is title insurance.  There are a variety of insurers that provide this product, but it’s always best to speak to your lawyer for their guidance.  The costs is based on a sliding scale depending on the value of your purchase but typically costs are around $500.  Title insurance does not correct title problems, but can compensate buyers as a result of negative impacts resulting from title defects.

Home Inspections

Fees for a professional home inspector begin around $400 and go up depending on the size of the property and the condition it is in.  Please reference my Buyer Information Package for a trusted list of reputable inspectors.

Home Insurance

Varies with each property, but costs typically start at $500 and go up from there.

Moving Costs

These also vary, but are often $200 per hour or more.  It will depend on the company, how many movers are required, time of the month, and how big the job is.  Best to shop around for the best rates.


The Statement of Adjustments will be prepared by the buyer’s and seller’s lawyers on closing.  These adjustments are for utilities, taxes and other related property costs that a seller has paid for which continue through closing.  As such, the costs are adjusted for the time of closing, and you are responsible to pay for these pre-paid costs from the date of closing going forward.  As an example, if the seller had paid the taxes for the full year, and your closing date is September 31st, you have to reimburse the seller on closing for the amount calculated for closing until the end of the year.

For more information on buying or closing costs, please reference my Buyer Information Package.