|
Activity
|
Timing
|
Approx. Cost
|
|
Mortgage Application Fee (depending on financial institution)
|
Generally at closing
|
$0 - $1500
|
|
Appraisal (if required by financial institution or solicitor)
|
2 – 5 days after accepted offer
|
$125 - $350
|
|
Legal Fees & Disbursements (i.e. Title Search, Mortgage Docs, Registration of Deed)
|
Upon closing
|
$750 - $1300
|
|
Fuel/oil adjustment
|
Upon closing
|
$700 or more based on current rates
|
|
Tax adjustment
|
Upon closing
|
6 months
worth
|
|
Condo fees (if applicable)
|
Upon closing
|
1 – 4 months
worth
|
|
Location Certificate / Title Insurance (if not provided)
|
2 – 3 weeks prior to closing
|
$350
|
|
Deed Transfer Tax
|
Upon closing
|
1.5% of the
purchase price
|
|
Home Inspection
|
2 – 5 days after accepted offer
|
$250 - $450
|
|
Water Test (if on well water and not municipal)
|
2 – 5 days after accepted offer
|
$40 - $150
|
|
Home Insurance
|
Before closing
|
$300 - $800
per year
|
