Shelley Simpson's sample Closing Costs
(Payable at Lawyer's office on closing date) Purchase Price $
Less Down Payment $
Equals Mortgage Amount $
(unless you add fees below &/or
planned improvement costs)
ADD Lawyers fee-approx. $600 + GST $42= $642.00
ADD Disbursements- searches, photocopying, $500.00
courier, etc
ADD Title Insurance (not mandatory) $200.00
ADD Land Transfer Tax $
($250,000 and less, purchase price x .01 less $275)
($250,000 or more:purchase price x .015 less $1,525)
ADD for Oil Tank or Propane fill up $
(Not, if home heated gas or electric)
ADD CMHC Insurance + PST (8%) $
(if less than 25% down, talk to your lender for details
ADD planned home improvement costs if to be done $
with a mortgage funds i.e. windows, floors
Subtract Deposit (this is the amount you gave at time $
of offer - held by the Listing Broker)
TOTAL CLOSING COSTS $ |