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Residential Transaction Fees and Costs

A. Legal Fees

1	Purchase: under $700,000	$600
	Residential purchase: over $700,000	Specific Quote Required
	Each mortgage with purchase (with major lender) or (without major lender)	$150 or $350
	Purchase disbursements (estimated) Disbursements can include but are not restricted to: • Title search costs • Execution certificates • Conveyancer's closing costs • Miscellaneous - long distance calls, courier, photocopies etc.	$350
2	Sale: under $700,000	$500
	Residential sale resale: over $700,000	Specific Quote Required
	Mortgage discharge (for each mortgage)	$150
	Sale disbursements (estimated) Disbursements can include but are not restricted to: • Teraview/Conveyancer's closing costs • Execution on closing • Miscellaneous (can include ) - Iong distance calls, courier, photocopies, taxes etc.	$150
	Bridge loan	$250
3	Unregistered condominium
	i) Interim dosing on occupancy	$250
	ii) Final closing on registration of new condominium	$500
	Mortgage (for each mortgage)	$250
	Disbursements (estimated-same as residential purchase)	$350
4	Mortgage refinance (with major lender)**	$600
	Mortgage refinance (**without major lender)	$700
	Transfer of title (with refinance)	$300
	Payout of credit cards. line of credit, debts	$50 per item
	Mortgage disbursements (estimated)	$350
	Preparation of agreement of purchase and sale	$350
	Arranging title insurance for post closing transactions (premium based on value of home)	$150
	NOTES All fees are subject to HST (13%). All disbursements are subject to HST (13%) except registration costs. Fees do NOT include Land Transfer Tax and registration costs. Fees for transactions involving a property purchased with a price over $700.000 are higher. This fee is determined by our office based on complexity and risk & a specific quote should be obtained. The above fees represent block fees for straightforward transactions. Most transactions fall into this category but sometimes problems arise and we will invariably spend more time. We will discuss with you our estimate of time involved in advance. ** Major lenders include TD Bank, Scotia, Bank of Montreal, Royal Bank, CIBC

B. Land Transfer Tax

0.5% of value	up to $55,000
1% of value	> $55,000 – $250,000 plus
1.5% of value	> $250,000 – $400,000 plus
2% of value	> $400,000

Example:

Purchase price of home is $500,000
0.5% of $55,000	$275
1% of $195,000 ($250,000 – $55,000)	$1950
1.5% of $150,000 ($400,000 – $250,000)	$2250
2% of $100,000 ($500,000 – $400,000)	$2000
Total	$6475

C. Title Insurance
Approx. $300.00

D. Land Registry Fees
$71.30 for Land Transfer
$71.30 for each mortgage

Kamal Mundi Jolly LL.B

Barrister & Solicitor

Residential Transaction Fees and Costs

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