Skip to content

Closing Costs

What are Closing Costs​

First-time buyers often underestimate the closing costs fees and repeat buyers sometimes forget them.

Closing costs are the fees you pay at the closing of a real estate transaction and can range from 1.5-4% of the purchase price.

These fees include legal fees, appraisal, moving fees, home inspection and a few other.

What are Closing Costs

Fees you Pay at the Closing​


Appraisals estimate the value of your home and the cost is usually paid by the lender. However, the approximate cost would be $300-$500.

Home Inspection

Accredited home inspectors will examine the property to ensure it is up to code and that everything functions properly. Approximately $200-$500.

Final Adjustments

Any expenses that the seller needs to be reimbursed for after the date of closing (maintenance fees, heat, etc.). Approximately $0-$10,000+

Legal Fees​

Real Estate Lawyers will submit your offer, take care of registration, and will submit final payment on close. Approximately $800-$2500.

PST on Mortgage Insurance​

If Mortgage Insurance is required on your loan, then the PST of the premium will be due on the closing day. PST on Mortgage Default Insurance is only required in Ontario, Manitoba or Quebec.

Other Expenses, Fees or Events

In addition to the closing costs mentioned above, there may be other expenses, fees or events that may require budgeting for when your house closes.

Land transfer tax is also payable on the closing date of your purchase and is usually based on the purchase price of the property. However, in some provinces, there is no land transfer fee.

Be sure to set the region in the Closing cost estimator for accurate results.

Other expenses, fees or events

Quick, easy and accurate
Simply Powerful

Download CMA for Free

How to get the app

Since you are not glued to your phone (for once), you have 3 options for downloading the app

Text yourself a link

.. and have no fear, we don't save your number.

Scan this QR code and go to the app store

OR check us out on the App Store or Google Play