What the total includes
The total adds the estimated transfer duty to the costs you entered yourself.
Money that leaves on closing day
Compare that total with what is left after the down payment.
What is not counted here
Amounts vary by municipality, notary, and property. Tax adjustments and the first months’ expenses are not included here.
A worked example
For a $400,000 property, the transfer duty (the “welcome tax”) calculated with the tool’s brackets is $4,110.50: $314.50 on the first $62,900 (0.5%), $2,521 on the next bracket up to $315,000 (1%), then $1,275 on the remaining $85,000 (1.5%). With, for example, $1,500 for the notary, $600 for the inspection, and $400 for the appraisal (illustrative amounts), the cash to plan for on top of the down payment is about $6,610.
Common questions
Why is my transfer duty higher than the calculation? Some municipalities apply higher rates above $500,000: the tool uses default brackets, so check your municipality’s rule. Can these costs be financed into the mortgage? Generally no: they are paid in cash at closing, on top of the down payment.
Next step
Send me the price and the municipality: I’ll give you the total due on closing day, transfer duty included.