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Disclaimer: These are estimates only. Actual closing costs vary by lender, title company, state/county, and closing date. Your Loan Estimate (TRID) is the source of truth.
Canada Closing Costs Breakdown
Closing costs in Canada vary dramatically by province, typically ranging from 1.5% to 4% of the purchase price depending on location. On a national average home price near 700,000 CAD, buyers can expect 10,500 to 28,000 CAD at closing. Land transfer taxes are the largest variable, ranging from negligible in Alberta to over 16,000 CAD in Toronto.
Transfer Taxes & Fees
Land transfer tax (LTT) varies by province. Ontario uses tiered rates from 0.5% to 2.5% of the purchase price. Toronto buyers pay an additional municipal LTT matching the provincial rates, effectively doubling the tax. British Columbia charges a property transfer tax of 1% on the first 200,000 CAD, 2% from 200,000 to 2 million CAD, and 3% above that. Alberta charges no LTT, only minor registration fees. Quebec's welcome tax (bienvenue tax) uses tiered rates. First-time buyers in Ontario receive up to 4,000 CAD provincial LTT rebate.
Attorney Requirements
Yes. Canadian law requires a real estate lawyer (or notary in Quebec) to conduct the property closing. In Ontario and Alberta, a lawyer is mandatory. Legal fees typically range from 1,100 to 1,800 CAD depending on the province and complexity. Quebec uses a notary system, with fees roughly equivalent to legal fees elsewhere.
Local Quirks & Need-to-Know
Canadian buyers financing with less than 20% down payment must purchase CMHC (Canada Mortgage and Housing Corporation) mortgage default insurance, which costs 2.8% to 4% of the insured mortgage amount and is typically added to the loan. Some provinces also charge provincial sales tax on the CMHC premium. Foreign buyers face an additional Non-Resident Speculation Tax (NRST) of 25% in Ontario and a 20% foreign buyer surcharge in British Columbia on designated area purchases.