Buying a home is exciting—but closing is where deals fall apart if you’re not prepared.
After reviewing guidance from real estate lawyers, here’s what every buyer needs to know to protect themselves and avoid last-minute stress.
1. Understand Your Real Closing Costs
Beyond your down payment, expect:
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Legal fees (~$1,399 + HST)
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Disbursements (~$600 + HST)
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Land transfer tax (provincial + Toronto if applicable)
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Title insurance (~$800 on ~$800K home)
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Registration fees (~$170)
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Adjustments (property tax, condo fees)
Reality: Closing costs typically range 1.5%–4% of purchase price