Land transfer tax, legal fees, title insurance, commission. The costs on top of the price, for buyers and sellers, in one table with typical ranges for each.
| Cost Item | Who Pays | Typical Range | Notes |
|---|---|---|---|
| Land Transfer Tax (Ontario) | Buyer | ~1–2% of purchase price | First-time buyers may get a rebate up to $4,000 |
| Title Insurance | Buyer | $300–$800 | One-time premium, protects against title defects |
| Legal Fees (Buyer) | Buyer | $2,500–$3,000 | Title search, deed registration, mortgage documents |
| Home Inspection | Buyer | $500–$700 | Rural properties with well or septic inspections can run $1,000–$1,500 |
| CMHC Mortgage Insurance | Buyer | 2.80–4.00% of mortgage | Required if down payment is under 20%. Often added to mortgage balance |
| Adjustments (property tax, utilities) | Both | Varies | Calculated by your lawyer based on closing date |
| Moving Costs | Buyer | $800–$3,000+ | Depends on volume, distance, and time of year |
| Agent Commission (REALTOR® fee) | Seller | Negotiated | Typically split between listing and buyer's agent |
| Legal Fees (Seller) | Seller | $1,500–$2,000 | Discharging mortgage, transferring title |
| Mortgage Penalty (if applicable) | Seller | Varies widely | Ask your lender before listing, can be significant |
Rule of thumb: Buyers should budget 1.5–4% of the purchase price for closing costs, on top of the down payment. Sellers should factor in agent fees and legal costs when calculating net proceeds. Always confirm with your lawyer, since these are estimates, not guarantees.