Estimated Summary of Buyer Closing Costs

1) Land Transfer Tax

2) Legal Fees

Ex. Of a Durham Region Real Estate Lawyer (within the Durham Region $1429.45 HST included, Outside of the Durham Region $1559.40 HST included)

(Includes all fees, disbursements, cost of title insurance, reparation and registration of Deed, Preparation and registration of one Mortgage). Quoted cost from local Real Estate Lawyer's Office just as an example.

1) Disbursements

Unless included in your Real Estate Lawyers fee there will be other costs which the lawyer will have to pay on your behalf, i.e. registration fees, photocopies etc. will cost approximately $150.00 and up.

2) Statement of Adjustments

Buyer and Seller are responsible for their share of taxes, fuel & utilities. This is calculated by the lawyer based on the Seller's payments that have already been paid for that Month / Year

3) Home Insurance

Home Insurance varies from one insurance company to another. Contact your local broker for rates.

4) Moving Costs

Moving Costs in the the Durham Region will vary based on several factors such as distance of move, size of the home and amount of hours you will require the movers and trucks. There is usually a daily truck rental fee on top of the cost for the movers.

5) Mortgage Application

Processing Fee – Approximately $150.00

6) Mortgage Appraisal

Approximately $150.00 (CMHC fee includes processing fee & appraisal fee - $235.00)

7) Survey

If the seller should not provide you with one in the Agreement of Purchase and Sale a new survey will cost you approximately $750.00 and up.

8) HST

Most residential re-sale homes are an acceptable survey exempt from HST. Most services involved in the transaction will be subject to HST eg.

- Lawyers Fees                                 - Processing Fees

- Insurance                                       - Home Inspections

- Appraisals                                      - Moving Costs etc

9) Hook Up Costs

Hydro, Gas, Cable/Internet etc. varies upon individual circumstance.

**These figures are all approximations and vary in each individual circumstance. The figures are used to give a general outline of the costs associated with Buying a property in the Durham Region.**

For more information on Buyer's Costs feel free to Contact Scott directly.

Sutton Group Heritage Realty Inc.