What are closing costs?

Closing costs are all the costs due to the lawyer or notary to complete the purchase of a home.

As a seller, they are costs associated with completing the sale of your home, and determine how much you’ll be receiving from the sale, after all the associated costs are deducted from the sale price.

As a buyer, these are all the costs associated with the purchase of your new home. This will include a total of what is due at the completion date. Including the purchase price, less a mortgage and added fees associated with the transaction.

As always, please ask your notary public or lawyer for more details on these costs.

Generally some of the closing costs can include:

• Purchase price less any mortgages or deposits paid
• Notary or Lawyer fees
• Share of Property Taxes
• Indicated amount of Property Transfer Tax for buyers

Looking to buy or sell your next home or property? Give us a call. We’d love to help!