Estimated Closing Costs In The Kincardine Area


Common Legal Fee   $325.00
Plan of Survey (if required & not available) $600.00 (estimate)
Title Insurance (if necessary)       250.00
Zoning Report (if necessary)       50.00
Bylaw/Sub Division Admin Report (if necessary) 50.00    
Tax Certificate (if necessary)       30.00
London Hydro Report (if necessary)       16.00
Register Deed (as of March 1, 2000)       75.00
Register Mortgage (as of March 1, 2000)       75.00
Execution Certificate       11.00 (per name)
Title Search       100.00 (estimate)
Miscellaneous (photocopies/Faxes/postage/courier/ 350.00 (estimate)
Long Distance/Law Clerk/GST)
Land Transfer Tax (Paid to Minister of Finance - on closing)
The regular rate of Land Transfer Tax on the Purchase price is as follows:
(a) Amounts up to and including $55,000.00       0.5 %
(b) Amounts exceeding $55,000.00, up to and including $250,000.00 1.0 %
(c) Amounts above $250,000.00       1.5 %
(d) Where the property contains at least one and not more than two
Single Family residences, the Land Transfer Tax will be 2.0 % on the
portion of the consideration that is above $400,000.00   2.0 %
For Example: A $100,000.00 home would be $725.00
Other Fees
If your Down Payments is less than 25 % of the Purchase Price of the home,
the Mortgage will require insurance from CMHC. The premium is usually
added to the Mortgage. The premium ranges from .5 % of the Mortgage
value to 3.75 % depending on the size of Down Payment. There is also
Provincial Sales Tax of 8 % on the premium which is an up-front cost and
can not be added to the Mortgage.          
In addition to the above costs, you may be required to have Cash-on-Hand
to repay the Vendors for advances they may have made in connection with
the property, which you will benefit from; such as pre-payments of taxes,
Condo fees et cetera.           $500.00 (estimate)
Depending on the date chosen by the Lender as the interest adjustment (the
date the Mortgage starts) you may be required to pay interest to the Lender
from the date the money is required and the interest adjustment date. The
maximum amount would be one month's interest at the rate of interest charged
in the Mortgage.             $300.00 (estimate)
You will have to arrange for Fire Insurance before possession
The above figures are an estimate only. Disbursement Costs vary depending on the particulars of the transaction. Not all of these disbursements are applicable on every Purchase and are subject to change. It is recommended that you consult your lawyer for further assistance.


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