Tick off every cost and document a Canadian buyer or seller should budget for, from offer to keys.
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Use this checklist from the day you start talking to a realtor until the first weeks after closing. Each item corresponds to a cost or a document that regularly surprises buyers and sellers in Canada.
How to use it. Work down the groups in order. Items marked Buyer or Seller apply only to one side. Province-specific items (Quebec transfer duties billed by the municipality, sales tax on mortgage insurance premiums in some provinces, condo status certificates in Ontario) can be skipped if they do not apply to you.
Example. A first-time buyer in Toronto who ticks the land transfer tax item will calculate both Ontario LTT and Toronto MLTT and then subtract the first-time buyer refunds of up to $4,000 and $4,475. A seller who ticks the payout statement item will find out whether breaking the mortgage early costs a prepayment charge before agreeing to a closing date.
Limits. The list is general and does not replace the advice of your lawyer or notary, who will prepare the final statement of adjustments. Fees and taxes vary by province and municipality; the guides on this site explain each one.
Worked Examples and Checklists
A stage-by-stage checklist of closing costs when buying or selling a home in Canada, with province-specific items, who pays each one and how to estimate it.
