Many buyers focus entirely on the down payment and forget about everything else.
In reality, closing costs can add up quickly, and they’re due shortly after your purchase.
Understanding them early avoids stress later.
What are typical closing costs in Quebec?
Most buyers should budget 1.5% to 4% of the purchase price.
These costs usually include:
- Welcome tax
- Notary fees
- Inspection
- Appraisal (if required)
- Adjustments
They are not financed into your mortgage.
What is the welcome tax?
The welcome tax (land transfer tax) is paid to the municipality after purchase.
It is based on:
- The purchase price or municipal evaluation, whichever is higher of the two
- The city you’re buying in
In Montreal, this is often the largest single closing cost.
How much are notary fees?
Notary fees typically range between:
- $1,200 to $2,500
This includes:
- Legal work
- Registration
- Title verification
Notaries play a central role in Quebec real estate transactions.
Can closing costs be reduced?
Some costs are fixed. Others are flexible.
Potential strategies:
- First-time buyer rebates
- Negotiating inspection scope
- Planning renovations post-purchase
Planning early is the key.
Bottom line
Closing costs are manageable if you plan for them.
Ignoring them can delay or even cancel a purchase.
📞 Want a full cost breakdown before you buy?
👉 Let LJ Realties help you plan properly
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