Closing Costs Townhouse?

[BrianNSara]

Anyone know the amount for Closing Costs on a townhouse?

[jrb]

Hi Brian,

I am suppose to "Final Close" on Nov 5th. If that happens I will let you know the closing costs.

[justmed]

pretty good discussion here

http://www.millpondpost.com/forums/showthread.php?t=174

We have a townhouse and if I remember right our closing costs were around 3100.00

We were first time home owners so land transfer tax isnt in there

[jrb]

hi,

I am going to veryify what justmed said...........

My "Final Closing" is today......and i estimate closing costs to be approximately $3500.00

if you are not a first time home owner, add $2000.00 to that.

But note, if you are transferring money from RSP's etc.............the bank needs time, dont leave it till the end..............depending on how your investments are set up..........

[tazplay]

we are closing feb 25th if all goes well. Were the estimates given below with lawyer fees or without? So excited!

[jrb]

Hi Tazplay,

I have a southgate end.......a great model......

The 3500.00 i paid included lawyers fees. But note I closed November and taxes were estimated for the balance of the year, which were around 200. if I remember correctly. If you are not a first time home owner you would have to pay another 2000. likely for land transfer tax.

I am not sure what your lawyer will do about property taxes as you are closing at beginning of the year. They may not charge anything or they may estimate it for the rest of the year.

At this time I am not paying property taxes as the city has to do an assessment. My understanding is that it could take a few months to get the tax bill. But because you are closing at beginning of the year I am not sure what they will do in your case.

[tazplay]

Thanks for the info!