Clear Insights into Every Closing Fee. PurchaseWith Confidence.
Understanding closing costs is essential to planning your purchase with confidence. I break down each fee so you know exactly what to expect—no surprises, just clarity and transparency.
Ontario Closing Costs:
What Homebuyers Need to Know
Legal Fees
Legal fee is the cost paid to your lawyer to cover your interests during the purchase process. The legal checkwork involves reviewing contracts, completing title searches, preparing documentation, and securing a mortgage. Your lawyer ensures that the property is free of any dispute and the transaction will be safe and hassle free.
Land Transfer Tax
In the province of Ontario, a buyer has to pay the Land Transfer Tax while purchasing a property in the province. The tax amount is determined by the purchase price at the time of purchase, although first time buyers are eligible to receive rebates. Understanding the cost upfront helps you to mobilise your resources before hand and make the closing hassle free.
Appraisal / Inspection Fees
An appraisal is the critical part of your mortgage which enables your money lender to understand the future appraisal prospects of your property. Along, a home inspection, evaluate the property and pinpoint the potential issues. Both these service cost a minor amount in terms of money but provide huge peace of mind before closing.
Working with Lalli Brar was an absolute game-changer. From our first meeting, she made the buying process simple, clear, and stress-free. Her market knowledge, negotiation skills, and attention to detail helped us find our dream home at the perfect price. I couldn’t have asked for a better realtor — I would highly recommend her.
Samantha R.
Brampton, ON
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+1 647-123-1234
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info@lalliebrar.ca
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123 Mississauga Rd, Ontario