Module 7 · Lesson 5 of 6 · 8 min read
Complete Closing Costs Breakdown
Every cost you should budget for
- Property Transfer Tax: 1% on first $200K, 2% on $200K–$2M, 3% on $2M–$3M, 5% above $3M. Example: $800K home = $14,000. May be exempt for qualifying first-time buyers or newly built homes.
- Legal fees + disbursements: Notary: $800–$1,500. Lawyer: $1,200–$2,500. Plus disbursements (title search, filings, courier): $300–$700. Total: $1,100–$3,200.
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