The short answer
The items, one by one
| Item | When | Good to know |
|---|---|---|
| Down payment | At signing | 5% minimum; see the down payment article |
| Welcome tax | After signing | Calculated in brackets, depends on the municipality |
| Notary fees and disbursements | At signing | Vary by office; ask for a written statement |
| Pre-purchase inspection | Before the final offer | Paid by the buyer |
| Property appraisal | During underwriting | Depends on the lender; ask whether it covers the cost |
| Tax and charge adjustments | At signing | Depend on the signing date |
| Sales tax on the mortgage insurance premium | At signing | If the down payment is under 20%; it cannot be added to the loan |
| Title insurance | At signing | Optional |
| Moving, utility hookups | After | Varies |
An example at $450,000
Frequently asked questions
Do notary fees go into the loan?
No, they are paid in cash.
Who picks the notary?
You do. The lender may ask for certain checks.
Can I negotiate these costs?
Notary fees vary from one office to another. The welcome tax follows the municipality’s schedule.
What if I am short of cash at closing?
Talk about it before signing. The HBP, the FHSA or a documented gift can fund the amount, but each takes proof and time.