Closing Costs Explained

Closing costs can vary depending on the property you are purchasing.

What’s included in closing costs

• Home Inspection

• Land transfer tax

• Legal fees

• Insurance

• Appraisal Fee

• Property tax adjustments

• Title Insurance
  
  

How much does this cost?

It’s generally a good idea to budget between 3-4% of the purchase price of your new home to cover the closing costs.

Who pays the closing costs?

Most common closing costs are paid for by the buyer. Sometimes the lender will cover the appraisal fee ($250-$450) to determine the value of your home.

What should I expect?

While not all closing costs covered in this article may apply to your purchase, you safely can expect to be responsible for

• Legal Fees

• Down payment

• Home inspection