Closing Costs
Closing costs are the expenses associated with completing the purchase and transferring the property into your name.
LAND TRANSFER TAX
If you are purchasing a property in Toronto, you will generally pay both Ontario Land Transfer Tax and Toronto Municipal Land Transfer Tax (MLTT).
The amount depends on the purchase price and other factors. First-time buyers may qualify for rebates on the provincial and municipal portions of the tax, subject to eligibility requirements.
Toronto’s MLTT rates for certain higher-value residential properties changed effective April 1, 2026, so it’s important to use a current calculator rather than relying on an old rate table.
Budget for this early — land transfer tax can be one of the largest closing costs.
[Calculate Your Land Transfer Tax →]
Legal Fees & Disbursements
Your real estate lawyer handles the legal work required to complete your purchase. This can include title searches, registration, mortgage documentation, tax certificates, searches, and other closing requirements.
Legal fees and disbursements vary depending on the property and complexity of the transaction.
For a typical purchase, ask your lawyer for an estimate that includes both legal fees and anticipated disbursements, plus applicable HST.
Legal Review Of The Status Certificate
For condominium purchases only
When purchasing a condominium, your lawyer will typically review the building’s Status Certificate as part of the legal due diligence process.
The Status Certificate provides important information about the condominium corporation and the unit, including the building’s financial position, budget, reserve fund, common expenses, outstanding arrears, litigation, and other matters that may affect your purchase.
This review is an important part of understanding what you are buying — not just the unit itself, but the financial and legal health of the condominium corporation.
Your lawyer will review the Status Certificate and advise you of any issues or items that may require further consideration. The cost of this review may be included in your overall legal fees or charged separately, depending on the lawyer and the transaction.
Title Insurance
Title insurance protects against certain title-related risks and is commonly arranged by the lawyer as part of the closing process.
The cost varies based on the purchase price and property type.
Your lawyer will explain the coverage and whether title insurance is appropriate for your purchase.
Survey
A new survey is not required for every purchase. However, if you are purchasing a property with plans to renovate, add an addition, rebuild, or undertake other significant work, a survey may be useful.
The cost will depend on the property and the type of survey required.
Mortgage Registration & Other Closing Costs
There may be additional registration, administrative, search, courier, or other disbursement costs associated with completing your purchase.
Your lawyer will provide a detailed statement of adjustments and closing costs before closing.