First time buyers often underestimate the closing costs fees and repeat buyers sometimes forget them. These are fees that you pay around or on the closing date of a real estate transaction. It can range from 1.5% - 4% of the purchase price. These fees include legal fees, appraisal, moving fees, home inspection and a few other.
Land transfer tax is also payable on the closing date of your purchase and is usually based on the purchase price of the property. However in some provinces there are is no land transfer fee, so the value may be 0. Be sure to set the region in the Closing cost estimator for accurate results.
You can use the closing cost estimator right from the Home tab to calculate the total closing costs of your purchase.