Buyer will receive a phone call from the Lawyer about a week before closing. The lawyer will inform the buyer an amount which needs to be paid by a certified check, this amount will be provided to the Lawyer a few days before closing.

Down payment 5% of the purchase price and up. This amount varies depending on the mortgage approval.
Land Transfer Tax
Price of Home Land Transfer Tax
$200,000 1,725
$300,000 2,975
$400,000 4,475
$500,000 6,475
$600,000 8,475
$700,000 10,475
$800,000 12,475
$900,000 14,475

* First Time Buyers will Receive $2,000 Off the Land Transfer Tax. *

Lawyer Cost $1,300 – $1,600

Example of Closing Costs

 

If the home price is $500,000 with 10% Downpayment, you are a First Time Buyer.

Downpayment $50,000
Land Transfer Tax $6,475 – $2,000 (rebate)
Lawyer Fee $1,500
Total $55,975

 

If the homes price is $250,000 with 5% Downpayment, you are Not First Time Buyer.

Downpayment $12,500
Land Transfer Tax $2,225
Lawyer Fee $1,500
Total $16,225

 

Once all documents are signed with the Lawyer and the Closing Costs are paid, the Buyer will receive a call from the Lawyer on the Closing Day when the deal is completed in order to pick up the keys. Usually this will occur from 1 pm – 5 pm .If for any reason there are issues with the closing either from Sellers side or the Buyers side, the closing date will get delayed, however this happens very rarely.