WHAT SHOULD I EXPECT TO PAY
FOR CLOSING COSTS?

You will always find someone to handle your purchase "cheap". Consider, however, that this is one of the biggest purchases that you will make in your life. As a result, you may wish a level of service from your solicitor that "cheap" will not provide. Cheap is anything less than $1,000 for the legal fee on the purchase, the legal fee for the mortgage, plus all disbursements including title insurance and GST. A reasonable charge for fees and disbursements is between $1,300 and $1,500 exclusive of Land Transfer Tax.

Land Transfer Tax is not part of any quote on fees and will cost you 1% of the purchase price less $275 for a home up to $250,000. For any amount over $250,000 add another 1.5% of that amount. For homes costing in excess of $ 400,000 add an additional 0.5% of the amount of the excess.