In ontario what is a general rule of thumb for how much money to put aside for closing costs when buying a house... How are lawyers fees calculated??
2007-03-25 15:29:07 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I don't know what they are in Ontario but usually the lawyer costs are a set percentage of the total lone value. You will also have inspection costs, filing fees, title fees, points, prepaid interest. I would guess that yo could start with 4K and go from there. You should get a truth in lending sheet that breaks out all of the costs for you before you go to closing, actually before you finally agree on settlement.
2007-03-25 15:35:46 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
I don't know about Ontario, but try a minimum of 3% of the purchase price. Lawyers fees are typically standard, title fees with the lawyer are a different issue
2007-03-25 15:34:25 · answer #2 · answered by healthspot_2000 4 · 0⤊ 0⤋