Typical Closing Charges

BUYING: 

[Assuming the transaction is of normal complexity] NOTE that Land Transfer Tax, Disbursements [i.e. searches, courier fees, bank fees, software fees], Registration, and title insurance are in addition to]

• Legal Fee - Purchase + 1 Mortgage: $999 + HST (inclusive of postage and photocopies)

  • we require mortgage instructions at least 1 week prior to the closing date. If we are not in receipt of the instructions at least 1 week prior to closing, a rush fee will be applied to the transaction (~$300).

• Disbursements 

  • Generally between $275-335

  •   (please call to qualify your transaction)   

• Ministry of Finance:

  • $77.62 for Transfer

  • $77.62 for Mortgage (if applicable)

• IF Property Purchased is in Toronto:

  • MLTT Fee – $89.84

  • Additional Costs contingent on acquisition price:

•  

  • Land transfer tax (if in Toronto, additional Toronto Land Transfer Tax)

    • See Link:

  • Title Insurance

    • See link for Quote:

      • https://www.stepsonline.ca/Transaction/PremiumCalculator​

Additional Charges - Condo

• Status Certificate Review:

  • $150-$250

• Interim Closings 

  • $500 Legal + HST + Disbursements 

CONTRACT REVIEW

• New Purchase - Builder starting at $499 + HST

  • For condo: We will not be reviewing the disclosure documents + by-laws – we will only be reviewing the agreement

• Assignment: OREA + Original Agreement review + in-person meeting to discuss terms and conditions + feedback : $1500 + HST (non-refundable)

  • For condo: We will not be reviewing the disclosure documents + by-laws – we will only be reviewing the agreement

• Review of Assignment Terms (if any): $250 + HST

SELLING: 

**Assuming the transaction is of normal complexity **

·    Legal Fee - Sale + 1 Mortgage Discharge: $799 + HST (inclusive of postage and photocopies) 

·    Additional Mortgages/Bridge Discharge: $150 each

·    Disbursements ~$350 maximum 

·      (please call to qualify your transaction)   

·    LSUC Levy Fee - $65

·    IF NECESSARY (Most Transactions do NOT require these):

oRegistration - $77.62 for each access (Power of attorney in regards to this - $150 + $77.62 registration.

REFINANCE: 

• Legal Fee - $799 (includes discharge of 1 mortgage) + HST

• Additional Mortgages/Bridge Discharge: $150 each

• Disbursements usually ~$190-300 (please call to qualify your transaction) 

• Registration - $77.62 per instrument 

• Title Insurance - See calculator 

  •  https://www.stepsonline.ca/Transaction/PremiumCalculator

• Other Charges (where applicable):

  • Debt payouts - $50/debt

  • Rush fee ($150-300) for less than 1 weeks' notice 

​

NOW OFFERING:

**MOBILE SIGNING SERVICE** FOR PURCHASES AND SALES! 

• Depending on Location:

  • $150 - $300   

    • Please call the office for a quote! ​

NOTARY: $20 (up to 4 seals)

• True Copies

• Affidavits

• Statutory Declarations 

• Commission of Oaths

TRANSFER (Gift/inter-Family) WITHOUT MORTGAGE - for nominal consideration:

• Legal Fee - Transfer $749 + HST

  • includes ILA preparation

• Disbursements usually ~$190-350

•   (please call to qualify your transaction)   

• Other Fees which will apply:

  • ILA (depending on other lawyer)

• Other fees which may apply

  • Title insurance 

    • Amount Depends on Insurer

  • Land Transfer Tax 

  • Ministry of Finance:

    • $77.62 for Transfer

    • IF Property is in Toronto:

      • MLTT Fee – $89.84

      • ​

TRANSFER (Gift/inter-Family) WITH MORTGAGE/REFINANCE:

• IF REFINANCE/CHARGE/MORTGAGE

  • $1450 + HST 

    • includes transfer and ILA document preparation

• Disbursements usually $190-350

  • Other Fees which will apply:

•  

  • ILA (depending on other lawyer)

• Other fees which may apply

  • Title insurance 

    • Amount Depends on Insurer

  • Land Transfer Tax 

  • Ministry of Finance:

    • $77.62 for Transfer

    • $77.62 for Mortgage

  • IF Property is in Toronto:

    • MLTT Fee – $89.84

  • we require mortgage instructions at least 1 week prior to the closing date. If we are not in receipt of the instructions at least 1 week prior to closing, a rush fee will be applied to the transaction (~$300).

HOURLY RATES: $350

• Non-Transaction Related Consultations 

• Legal Advice Letters

Please call for more information. E.O. & E.