Additional costs and fees
Balance of purchase price
The purchase price less your initial deposit. Usually the bulk will come from your lender and become your mortgage.
Legal Fees
Amount varies depending on purchase price - approx $1,800 - $2,000 - plus disbursements. If purchasing a condo an additional fee may apply for status review.
Title Insurance
Sometimes included in your legal fees, $250-$400.
Adjustments for Utilities/Condo Fees/etc
Reimbursement to Seller for prepaid utilities, etc.
CMHC Insurance Premium
Insurance premium charged if you have less than 20% down payment.
Taxes
Ontario Land Transfer Tax
Varies depending on purchase price but a partial refund may be available to first-time buyers.
Toronto Land Transfer Tax
Varies depending on purchase price but a partial refund may be available to first-time buyers.