Legal Fees

Lawyer’s fees vary, but often have structured fees for the purchase and sale of homes posted on their websites. You could pay in the area of $1000.00 for a lawyer to look after the legal details.

Mortgage Discharge Fees

Be sure to check with your mortgage lender to determine if any costs will occur when transferring or releasing your mortgage. Some lenders charge a discharge fee to remove the mortgage from title that can range from $150 to $250. There could also be an interest penalty if your mortgage is a closed term. Be sure to find this out in advance.

Disbursements

In addition to your legal fees, your lawyer may have other expenses such as copies, couriers, registration fees and preparing document transfers. Disbursements as these are called can range upwards of $500 to $800.

Adjustments for Utilities, mortgage interest and property TaxeS

The lawyers will arrange for a final meter reading of your utilities on closing, however, be sure to contact your utility companies to provide them with your forwarding address for the final bill that will take care of utilities up to the date of closing.

Your lawyer will ensure that any overpayments or deficiencies on rents, mortgage interest and property taxes will be adjusted for on closing.

Moving Costs

Moving costs vary based on location and the amount of possessions being moved. If you’re moving yourself, you should factor gas, rental vehicles and moving supplies.

To estimate your bottom line, use the Closing Cost Calculator.

*These are estimates only, please be sure to confirm all prices at the time of offer.