closing costs are significantly less for a Seller than for a
Buyer, you still need to be prepared so you can budget
accordingly. It is
wise to speak with your Lawyer several days before closing to
ask about how much your total adjustments will be.
Your Lawyer should be able to give you a fairly accurate
cost breakdown, so be sure to ask!
Normally all of the costs will come off the proceeds of
the home, so unlike a buyer, you are not taking a cheque to your
Lawyer. But knowing
how much money will come off the total selling price is always a
put together a list of the common closing costs, so you can
start to plan ahead!
As a general guideline, budget approximately $1000 to $1200 with 1 mortgage.
Legal Fees: $700 - $900
Fee for each Mortgage / Registration:
$71.30 (includes tax)
Financing Costs: $150.00
adjustments (taxes, oil, condo fees):
additional mortgage is an extra cost of $150 - $200 plus the
extra discharge fee
- HST: 13%
Commission – as discussed with your Realtor®, plus:
: All costs are approximate, some may vary depending on Law
firm. Please check with your Lawyer and Lender for a more