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What Are Closing Costs? A Quick Guide for Ontario Buyers & Sellers

What Are Closing Costs? A Quick Guide for Ontario Buyers & Sellers

Closing costs are the final fees due when a home sale is completed—and they can catch you off guard if you’re not prepared. These costs may cover services from:

✔️ Lenders (mortgage fees)

✔️ Lawyers (legal fees)

✔️ Title companies

✔️ Insurance providers

✔️ Tax authorities (land transfer tax)

✔️ HOAs (for condos)

✔️ Real estate agents (commission)

📑 Why It Matters: These costs usually come due on closing day, so it’s crucial to plan for them early. Whether you’re a first-time buyer or listing your current home, understanding what’s involved helps you avoid last-minute surprises—and makes the entire process smoother.

Want a personalized estimate? I’m happy to walk you through what to expect based on your specific situation.

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.