Real Estate
Closing Legal Fees
At Kung, Lo & Jia LLP, we understand that your real estate transaction is one of the most important and costly transactions that you will make in your lifetime. Our legal fees for real estate transactions are fixed and we make sure to be as transparent as possible. Contact us today for a quote tailored to your closing.
For reference, below are fees and details about our services for title insured residential real estate closings of normal complexity, assuming no reasonably unforeseen complications, of a vacant single family property on the date of closing with a purchase price or sale price of less than $1,100,000.00, receiving mortgage instructions seven days prior to closing (if applicable):
Purchase
For a purchase of a vacant single family residential property and one mortgage with a Schedule I Bank:
Legal Fees: $1099 plus HST*
- Plus Disbursements of $452.00 (freehold) or $565.00 (Condo)
- Plus Transfer Registration Fee of $82.00
- Plus Mortgage Registration Fee of $82.00
- Plus Land Transfer Tax
- Plus Cost of Title Insurance
- Additional Cost for Interim Closings for Preconstruction Purchase of $599 plus HST plus Disbursements
Sale
For a sale of a vacant single family residential property and discharge of one mortgage on title:
Legal Fees: $999 plus HST*
- Plus Disbursements of $395.50
- Plus Discharge Registration Fee of $82.00 (if applicable)
- Plus Law Society Levy of $73.45
- Additional debt/mortgage payouts, if required, are $150 plus HST per additional payout required
Mortgage Refinance
For one mortgage refinance of a single family residential property and discharge of one mortgage on title:
Legal Fees: $999 plus HST*
- Plus Disbursements of $452.00 (freehold) or $565.00 (Condo)
- Plus Mortgage Registration Fee of $82.00
- Plus Cost of Title Insurance
- Plus any Law Society Levy if applicable
- Additional debt/mortgage payouts, if required, are $150 plus HST per additional payout required
*The above fees listed are for title insured residential real estate closings of normal complexity, assuming no reasonably unforeseen complications, of a vacant single family property on the date of closing with a purchase price or sale price of less than $1,100,000.00, receiving mortgage instructions five business days prior to closing.
Please note that additional disbursements may apply if required in accordance with LSO Rule 4.2-2.1: HST, government document registration fees, fees charged by the government., Teranet fees, costs of a new condo status certificate, lawyers creditor’s letters and title insurance.
We require mortgage instructions at least 5 business days prior to the closing date. If we are not in receipt of the mortgage instructions at least 5 business days prior to closing, a rush fee of $399 plus HST will be applied to the transaction.
In some real estate transactions, there may be unforeseen issues and/or difficulties that arise as a result of matters beyond our control. We reserve the right to increase our fees to reflect any additional time expended with the completion of your transaction and will contact you to discuss same.