Closing Costs on a Sale

of Residential Real Property

 

VENDOR'S SOLICITOR is required:

1. to review the Agreement of Purchase and Sale.
2. to supply all the information concerning the property.
3. to draft the deed to be approved.
4. to prepare the statement of adjustments.
5. to meet at the registry on closing day to close the transaction.

Approximate closing costs on the sale of residential real property
 Legal  $450 and up + 7% GST on service
 Mortgage Discharge Penalty (3 months or int. differential)  ~$3,000 ++++
 Discharge Mortgage only  $195
 Registration Cost (to discharge Mtg)  ~$50
 Adjustments: Taxes, Oil in tank, Hydro, Water, Gas, etc.  
 Disbursements:  ~$100 + 7% GST
 Flow rate of well  ~$125+ 7% GST
 Pump out septic  ~$100 + 7%GST
 Survey  ~$800 to $3,000


This is to be used as a guideline only (1997 prices).

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1/6/08