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Ontario Real Estate
Below you can find an estimated trust ledger setting out a fairly detailed funds summary of your transaction.
The deposit you paid with your offer, held by the listing brokerage.
The amount your lender is advancing. Leave at zero for a cash purchase.
Your current balance. Prepayment penalties are not included here.
Your remaining balance. Prepayment penalties are not included here.
Total commission split between both brokerages, plus HST.
Most people buying or selling property do not have a current will. We can prepare yours alongside your closing, at a flat fee.
Legal fees, disbursements, HST, land transfer tax and title insurance
A builder transaction carries adjustments this estimate cannot calculate, including:
These vary by builder and by agreement, and they can be substantial. Send us your agreement and we will prepare a quote that accounts for them.
Call (343) 633-5997Check your inbox for your quote and our Purchase Guide, a walkthrough of what to expect at every stage. Choosing Retain us asks a lawyer to get in touch and open your file.
Reference
Land transfer tax is a marginal tax. Each portion of the purchase price is taxed at its own rate rather than the whole amount at a single rate.
| Portion of purchase price | Ontario rate | Toronto MLTT |
|---|---|---|
| Up to $55,000 | 0.5% | 0.5% |
| $55,000 to $250,000 | 1.0% | 1.0% |
| $250,000 to $400,000 | 1.5% | 1.5% |
| $400,000 to $2,000,000 | 2.0% | 2.0% |
| Over $2,000,000 | 2.5% | 2.5% |
| Over $3,000,000 * | 2.5% | 4.4% to 8.6% |
The 2.0% and 2.5% brackets apply differently by property type. The 2.5% bracket applies to land containing one or two single-family residences. Other property, such as a multi-unit building or commercial land, is taxed at 2.0% above $400,000 with no 2.5% bracket.
* Toronto applies higher rates above $3,000,000 to eligible residential properties containing one or two single-family residences. First-time buyer rebates are up to $4,000 provincially and up to $4,475 in Toronto.
Source: Ontario, calculating land transfer tax and City of Toronto, MLTT rates and fees.
Scope
Included in the retainer for a standard residential purchase.
Included in the retainer for a standard residential sale.
Included in the retainer for a standard residential refinance.
Check your inbox for your quote and a guide to your transaction Our Purchase Guide walks through each phase of your closing, what we need from you, what happens on closing day, and the questions people ask most.
More on buying a home in Ontario →
Ontario Estate Planning
Fixed, all-inclusive fees for wills, powers of attorney and probate applications. No additional disbursements. HST is added at 13%.
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Your Estimate
All-inclusive. No additional disbursements.
Estate Administration Tax (probate tax) is payable to the Province when the application is filed and is not included in this fee. Calculate it with Ontario’s estimator.
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