All fees and expenses payable at the time of closing a real estate transaction in Ontario, beyond the purchase price itself. Buyers can typically expect to pay 1.5–4% of the purchase price in closing costs, including: Ontario and Toronto land transfer taxes, legal fees, title insurance, home inspection fees, and moving costs. First-time buyers in Ontario may qualify for a rebate of up to $4,000 on the provincial land transfer tax and up to $4,475 on the Toronto land transfer tax.
Synonyms:
settlement costs|closing expenses