Whether you are buying in Georgetown, Acton, Erin, Halton Hills, Rockwood, Norval, Ballinafad, Fergus, Guelph or anywhere in Ontario, Closing Costs are a fact of life. While costs vary with every transaction, regardless of the type of property you are buying...detached or semi detached, a townhouse, a condominium or an estate the table below should allow you to approximate what your closing costs will be. You may have additional closing costs...make notes and add them under Miscellaneous Costs. This is an approximate listing. A safe scenario is to set aside 1 ˝ % -2% of your purchase price. Closing costs vary for each transaction. If you are going to err, do so on the side of over rather than under.
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| Approximate Purchase Price |
$____________ |
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| If New Add GST |
$____________ |
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| If New Add HST |
$____________ |
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| TOTAL COST |
$____________ |
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| Less First Mortgage Amount |
$____________ |
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| Less Second Mortgage Amount |
$____________ |
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| Down Payment Required (B4 Closing Costs) |
$____________(A) |
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| Mortgage Application ($235 if Hi-Ratio) |
$____________ |
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| Mortgage Appraisal ($250 - $350) |
$____________ |
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| Mortgage Date Interest Adjustment |
$____________ |
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| Survey - If Required ($750 - $1200) |
$____________ |
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| Title Insurance (If req'd instead of survey) |
$____________ |
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| Home Inspection ($250 - $375) |
$____________ |
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| Legal Fees |
$____________ |
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| Land Transfer Tax (see LTT Worksheet) |
$____________ |
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| Disbursements |
$____________ |
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| Tax Adjustment |
$____________ |
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| Moving Costs |
$____________ |
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| Home Insurance |
$____________ |
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| Utility hookups and Installations* |
$____________ |
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| Miscellaneous Adjustments |
$____________ |
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| TOTAL COSTS |
$____________(B) |
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| FUNDS NECESSARY FOR CLOSING (A +B) |
$____________ |
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| Funds Should Be Available At Least 2 - 3 Days Prior To Closing |
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| *Not Required To Be Available In This Calculation...BUT Wise To Include. |
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| NOTES:_________________________________________________________________________________ |
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Should you have any questions on Closing Costs for your purchase I would be glad to answer them for you. Feel free to e-mail me, simply Click Here.
Deborah Gilmore...Your Trusted Source For Anything Real Estate!
