Closing Cost Worksheet

This worksheet will help you determine what costs will apply at closing, and help you to avoid large unexpected expenses.

Home Inspection Fees
It is always a good idea to have a professional home inspector take a look at the home you are purchasing to identify any problem areas in the home. Count on about $400 to cover this.
Appraisal Fee
Estimate $250 to $450.
Legal Fees
The cost to have your lawyer transfer ownership of the property and register the mortgage will be your responsibility. Legal fees vary so it is wise to contact a few firms for quotations on this expense. Estimate $500 to $750.
Survey Certificate
It is recommended that the purchaser of a home have a survey conducted to establish the position of the home within the lot boundaries. League Savings does not require a survey in many cases. If you need a survey it should cost in the $700 to $1000 range.
Deed Transfer Tax
Many municipalities require a percentage of the purchase price be paid for the transfer of title of the property. It is a good idea to check with the appropriate municipality to find the rate they charge for this service. A listing of the various
municipal offices will be available shortly.
Home Insurance
It is recommended that you check with a few Insurance Companies to find out the costs of coverage on your new home. The insurance amount should be equal to or greater than your mortgage balance.
Moving Costs
The costs of the move from your current residence to your new home will be dependent upon the distance involved and the amount being transported. It is a good idea to get at least two quotes for this service.
Prepaid Taxes
Depending on the time of year you will be purchasing, you may be required to pay a portion of the annual property taxes into a tax account in anticipation of an upcoming tax
bill. Check with your mortgage company to see if this will be required at the closing.
Fuel and Tax Adjustments at Closing

You will be expected to reimburse the owner of the property for the portion of the property taxes he has paid for the time you will own the property. Similarly you will be responsible for paying the costs of heating fuel which may be in the

Service Charges
Check with the Electrical and Water Companies to see if there are any fees to transfer the services into your name.
Repairs and Renovations
Will the home require any immediate repairs or renovations? Have you considered the cost(s)?
Are your present appliances adequate? Will you need additional appliances?