Closing costs

“I know I’ll need a lawyer, but that sounds expensive…”

When you Purchase, Sell or Refiance a property, you will need a lawyer to assist you in closing the transaction. Below, The Mobile Lawyer has included the general costs involved in closing a real estate transaction.

Please note: Costs will vary depending on the transaction!

1. Disbursements (Add HST – 13%)

The role of the lawyer is to i) certify marketable title to the property; free from all liens and encumbrances; ii) certify that the building location complies with local by-laws; and iii) there are no property and water tax arrears.

In making the above certifications, the lawyer must make certain inquiries. The cost of some of these enquiries is listed below. Please note that the cost will vary depending on the municipality.

Tax Certificate: $70-$75.00

Water Certificate: $60-$75.00

Zoning Compliance: $200.00-$600.00

Septic Search: $50.00-100.00

Status Certificate (Condos only): $100.00-$200.00

Title Search Fee: $100-$200.00

Executions Search $11.00-$15.00 each

Title Insurance: $192-$500 (property above 500k property will cost more)

Photocopies, Couriers, Faxes, Long Distance, Postage, etc.: $50.00-150.00

2. Registration Of Deed/Mortgage

  • Registration of Deed $76.55
  • Registration of Mortgage $76.55
  • Registration of Restrictive Covenants $76.55
  • Law Society Levy Surcharge (sale): $65.00

3. Land Transfer Tax (“LTT”)

The LTT is calculated as follows:

$0-$55,000 .005  X Purchase Price

$55,001-$250,000 .001  X Purchase Price minus $275.00

$250,001-$400,000 .0.15 X Purchase Price minus $1525.00

Greater than $400,001 .02    X Purchase price minus $3525.00

** First Time Buyer(s) of New Property will receive a Land Transfer Tax Rebate up to $4,000)

4. Tarion Warranty Program (For New Home Buyers)

  • Tarion administers the Ontario New Home Warranties Plan Act and is responsible for ensuring that new home buyers receive the proper warranty protection under the program, as required by law.
  • Builders will either include the enrolment fee in the purchase price or include it on the statement of adjustments. The fee is based on the value of the home. For example, a home purchased for $250,000.00 will have an enrolment fee of $513.00 (including GST and PST). For further details see the Tarion website:

5. Title Insurance

Much like other insurance policies, title insurance is a product available to provide security to the home buyer from problems that may arise with the title to the property. For instance, it is often the case that the building survey for re-sale homes is old and outdated. In this case, the property owner has two choices, 1) get a new survey completed at a cost of $1500-$3000.; or 2) obtain a title insurance policy to “paper over” any defects that may be found by an updated building survey. Finally, Title Insurance also protects against the fraudulent conveyance or mortgaging of your home.

The cost of title insurance will depend on the value of the value of the property. For further information see the First Canadian Website

6. Legal Fees

Residential Purchase: $800

Residential Sale: $700

Multi-Units, Refinances and General Transfer will cost in the range of $750-$1000 depending on the nature of the transaction