Rinehart Realty
(519) 601-6199
Free Home Evaluation

Closing costs

What Lands onClosing Day

Ontario land transfer tax to the dollar, with the first time buyer rebate, plus the legal fees, title insurance and adjustments that come with it. London charges no municipal land transfer tax on top, which Toronto does.

Closing costs

What your lawyer needs a few days before the keys, on top of the down payment.

First time buyer

Neither of you can have owned a home anywhere, ever.

Ontario land transfer tax$9,475
Legal feesTypical London, not a quote$1,800
Title insuranceTypical London, not a quote$450
AdjustmentsPaying the seller back for tax and utilities they have already paid past your closing date$650

Cash needed to close

$12,375

Payable to your lawyer in certified funds a few days before closing, on top of your down payment.

What this assumes

The land transfer tax is exact. It is Ontario’s brackets, and the first time buyer rebate is capped at $4,000, which is the tax on a $368,000 purchase. Above that price a first time buyer still pays the difference.

London charges no municipal land transfer tax on top, which Toronto does. If you are moving from there, this bill is roughly half what you have braced for.

Legal fees and title insurance are typical London figures rather than quotes, and adjustments are taken at a tenth of a percent of the price. What they actually come to depends on your closing date and what the seller has prepaid.

Want the real numbers on a specific house?

Send us the address you are looking at and we will come back with the closing costs on it, along with what we think it is worth.

We send your figures with it so nobody has to ask you for them twice. No obligation, and we do not pass your details on.

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