Fill in the blanks and see what your Ontario closing day will really cost — beyond the purchase price.
Who this is for: Anyone buying a home, condo, or property in Ontario who wants to budget for the costs that come on top of the purchase price. What you'll get: A fill-in worksheet with three columns — Freehold, Condo, and Toronto — so you can estimate your closing costs and avoid a closing-day surprise.
⚖️ This is a general guide, not legal advice. It can't account for your specific situation. Use it to get oriented, then confirm the details with a licensed Ontario lawyer.
The price you agree to pay is not all you need on closing day. Closing costs are the extra one-time costs of completing a purchase — taxes, legal fees, insurance, and adjustments. They typically run somewhere in the range of 1.5% to 4% of the purchase price for a normal purchase, but they vary by property type and location, and they're much higher in the City of Toronto (which charges a second land transfer tax).
💡 Use this worksheet as a planning estimate. Your lawyer can give you an exact, itemized figure for your specific deal — always confirm the real numbers with them before closing.
How to use this worksheet
- Write your purchase price at the top.
- Pick the column that matches your purchase: Freehold (a house with no condo fees), Condo (a condominium unit), or Toronto (any property inside the City of Toronto — note it carries the municipal land transfer tax and may also be freehold or condo, so use this column as your "Toronto add-on" reference).
- Fill in each line with your best estimate. Leave blanks until you have real quotes.
- Total it up at the bottom.
Purchase price: $ ____________________
Closing date: ____________________
Property type (circle one): Freehold House / Condo / Other: ____________
Is the property in the City of Toronto? ☐ Yes ☐ No
The worksheet
Fill in the dollar amount you expect for each line. "N/A" means a line usually doesn't apply to that type. The Toronto column highlights what's different about buying inside the City of Toronto.
A. Government taxes
| Line item | Freehold | Condo | Toronto (add-on / note) |
|---|---|---|---|
| Provincial Land Transfer Tax (LTT) — a tax on the property's value, paid at closing | $________ | $________ | Same provincial LTT plus the line below |
| Toronto Municipal Land Transfer Tax (MLTT) — a second land transfer tax for property inside the City of Toronto | N/A | N/A | $________ |
| Less: First-time buyer LTT rebate (if you qualify — reduces the tax) | – $________ | – $________ | Provincial and Toronto rebates may apply — confirm |
| Non-Resident Speculation Tax (NRST) — extra tax if you're a foreign national/entity (skip if it doesn't apply) | $________ | $________ | $________ |
⚠️ Watch out: Land transfer tax is calculated on a sliding scale and the rates, brackets, and rebate amounts are set by government and change. Do not rely on a number from an old article. Confirm the current LTT, Toronto MLTT, any first-time-buyer rebate, and NRST with your lawyer or the official calculators before you budget tightly.
B. Legal costs
| Line item | Freehold | Condo | Toronto |
|---|---|---|---|
| Legal fees — your lawyer's flat fee for handling the purchase | $________ | $________ | $________ |
| Disbursements — out-of-pocket costs your lawyer pays (title search, registration, software/closing fees, courier, etc.) | $________ | $________ | $________ |
| Title insurance — a one-time premium protecting you against title defects, fraud, and survey issues | $________ | $________ | $________ |
💡 At Treadstone Law our legal fee is a transparent flat fee — see treadstonelaw.ca/pricing. Ask any lawyer for fees and disbursements so you compare the full picture.
C. Adjustments (your share of prepaid items)
| Line item | Freehold | Condo | Toronto |
|---|---|---|---|
| Property tax adjustment — reimbursing the seller for property tax they prepaid past the closing date | $________ | $________ | $________ |
| Condo / common-element fee adjustment — your share of prepaid monthly condo fees | N/A | $________ | $________ |
| Other adjustments (e.g., prepaid utilities, fuel oil in the tank) | $________ | $________ | $________ |
💡 What "adjustments" means: Some costs are paid in advance for a whole period. If the seller prepaid them past your closing date, you reimburse the portion that covers your time owning the home. Your lawyer calculates these on a statement of adjustments.
D. Inspections and due diligence
| Line item | Freehold | Condo | Toronto |
|---|---|---|---|
| Home inspection — optional, recommended for houses; less common for condos | $________ | $________ (often N/A) | $________ |
| Status certificate review (condos) — your lawyer reviews the condo corporation's finances and rules; there may be a fee for the certificate | N/A | $________ | $________ |
| Appraisal — your lender may require one to confirm the property's value | $________ | $________ | $________ |
E. Mortgage-related costs
| Line item | Freehold | Condo | Toronto |
|---|---|---|---|
| Mortgage default insurance (CMHC-style) — if your down payment is below the threshold (often added to the mortgage, but the PST on the premium is usually due at closing) | $________ | $________ | $________ |
| Lender / mortgage fees (if any) | $________ | $________ | $________ |
F. Getting in the door
| Line item | Freehold | Condo | Toronto |
|---|---|---|---|
| Moving costs — movers, truck rental, supplies | $________ | $________ | $________ |
| Utility hook-ups / set-up | $________ | $________ | $________ |
| Other (locks, immediate repairs) | $________ | $________ | $________ |
Add it up
Total each column. This is your estimated cash needed at and around closing — on top of your down payment.
| Freehold | Condo | Toronto | |
|---|---|---|---|
| A. Government taxes | $________ | $________ | $________ |
| B. Legal costs | $________ | $________ | $________ |
| C. Adjustments | $________ | $________ | $________ |
| D. Inspections | $________ | $________ | $________ |
| E. Mortgage costs | $________ | $________ | $________ |
| F. Moving / set-up | $________ | $________ | $________ |
| TOTAL CLOSING COSTS | $________ | $________ | $________ |
Sanity check — the rule of thumb: Closing costs for a typical purchase often land between 1.5% and 4% of the purchase price.
- Purchase price $____________ × 1.5% = $____________ (lower estimate)
- Purchase price $____________ × 4% = $____________ (higher estimate)
If your total above is far outside this range, double-check your figures — and remember Toronto and NRST purchases push toward (or above) the high end.
A few budgeting reminders
- Land transfer tax is usually the biggest line — and roughly double inside the City of Toronto, which charges its own tax on top of the provincial one (more than double above $3 million, where Toronto's rates step up — as of 2026). Get the exact figure early.
- First-time buyers may get an LTT rebate (provincial, and a Toronto one for City of Toronto buyers) — confirm eligibility and let your lawyer claim it.
- Adjustments aren't fixed — they depend on your closing date and what the seller prepaid.
- Keep a cushion — set aside a little extra beyond your estimate for surprises.
- Confirm every number with your lawyer before you commit your cash.
How Treadstone Law can help
Treadstone Law gives you a clear, itemized estimate of your closing costs before you close — no guessing, no last-minute surprises. We charge a transparent flat fee for the legal work and close purchases online, anywhere in Ontario.
- We calculate your land transfer tax (and Toronto MLTT), apply any first-time-buyer rebate, and confirm whether NRST applies.
- We prepare your statement of adjustments so you know exactly what you owe on closing day.
- We explain every line item in plain language.
Ready to start?
- Real estate services: treadstonelaw.ca/real-estate
- See our flat fees: treadstonelaw.ca/pricing
- Start your file online: treadstonelaw.ca/start-file
- Or call us: 1-844-900-1070
This is not legal advice
This guide is general information, not legal advice. Reading it does not create a lawyer-client relationship. Ontario laws, tax rates, and government programs change, and how the law applies depends on your specific facts. For advice about your situation, speak with a licensed Ontario lawyer. Treadstone Law is licensed by the Law Society of Ontario — reach us at 1-844-900-1070 or start a file online.