Embedded Files
Closing Costs refer to the amount/balance payable to your lawyer on or before the Closing Date. As can be seen below, this includes the Land Transfer Tax, Title Insurance Premium, and Legal Fees and Disbursements.
Legal Fees are the lawyer's fees for acting on the purchase, mortgage/refinance, or sale transaction. Transactions may be subject to additional fees (e.g. for extensions, rush/last-minute closings, private mortgages which require more time/paperwork, etc.). Disbursements refer to any expense that the lawyer pays on behalf of the client. These can include but are not limited to search costs, couriers, bank charges, and legal software (which helps reduce the lawyer's time spent on files, which in turn lowers your fees).
Please note that these numbers are approximate. Every transaction is unique and may be subject to adjustments on closing (e.g. property tax, common element fees for condominiums, or oil for older properties).
Please note that the above calculator is provided for information purposes only. It is not and should not be construed as or relied upon as legal (or financial) advice. Thevans Law makes no representations or warranties about the accuracy of any information obtained through this calculator. Furthermore, Thevans Law shall not be responsible for any inaccuracies, misrepresentations, errors or omissions in the information provided therein, and that some information may not always be up to date. Users hereby understand and agree to use the information contained on this Website at their own risk.
Page updated
Report abuse