Land Transfer Tax and Moving Costs

Vendor’s Costs

  • Legal fees: range from $600 to $2000. A real estate lawyer will provide you with details.
  • Real estate commission + 13% HST.
  • Discharge of Mortgage: may be a penalty of 3 months’ interest, the interest differential between an old and new mortgage, or a combination of the above. Check with your lending institution.
  • Home Staging (if required).
  • The Move: may vary depending on your choice of movers; i.e. professional movers or packing yourself.

Purchaser’s Costs

  • Legal Fees: range from ½% to 1% of the sale price of the property plus disbursements. A real estate lawyer will provide you with the details.
  • Survey: if no recent survey is available, a new one will cost approximately $700-$1,000. Fees for larger and recreational properties vary: individual quotes are required.
  • Adjustments: money owed, prepayment of taxes, hydro gas, etc.
  • Home Inspection: will cost approximately $250 to $500.
  • Arranging the Mortgage: usually an appraisal fee of about $200 plus and administration fee of $200-$300. An up-to-date survey may also be necessary.
  • The Move: may vary depending on your choice of movers; i.e. professional movers or packing yourself.

Provincial Land Transfer Tax*:

If under $55,000 0.005 x purchase price
From $55,001 to $250,000 0.01 x purchase price minus $275
From $250,001 to $400,000 0.015 x purchase price minus $1525
Over $400,001 0.02 x purchase price minus $3525

*Special taxes apply to non-residents.
First time buyers will be eligible for a rebate of the provincial land transfer tax of up to $2000.

Toronto Land Transfer Tax:

If under $55,000 0.5 x purchase price
From $55,001 to $250,000 (1% x purchase price)
From $250,001 to $400,000 (2% x purchase price)

A rebate of up to $3725 will apply to first-time purchasers of both new and existing homes. This means a full rebate for first-time buyers of homes valued at $400,000 or less. For example, a first-time purchaser of a home valued at $600,000 would pay land transfer tax according to the scale shown above, and receive a rebate of $3725, A first time home buyer of a home valued at $300,000 would get a full rebate on the land transfer tax.