What You Need to Know for Closing

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- Your lawyer will work with the seller’s lawyer on exchanging title to your name

 

- They will work with the lender to arrange your mortgage

 

- Prior to closing, your lawyer will work out the amount you need to take them to complete the transaction.

 

- These funds will cover the balance between your deposit & mortgage + lawyers fees, land transfer tax, title insurance fees & any other misc charges related to the purchase

 

- You will go to your lawyer’s office a day or two prior to closing to sign all paperwork 

 

Closing Costs & Fees

Lawyer Fee & Disbursements 

Land Transfer Tax

Property Tax

Property Insurance