What are closing costs?

Your mortgage isn’t the only expense when buying a home. There are also closing costs that could include appraisal fees, lawyer’s fees, insurance and more. On average your combined closing costs represent between 1% and 3% of the purchase price. These will vary by province and city, and are often linked to the price of the home. Your mortgage broker, lawyer, or real estate agent can help you estimate them.

Your closing costs can include the following…

  • Your Lawyer’s Legal Fees
  • Land Transfer Tax
  • Land Survey Fee or Title Insurance
  • Property Tax Adjustment
  • Closing Adjustments for Prepaid Bills
closing costs estimate in Regina

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