No surprises at closing. Get a clear estimate of every fee and cost you can expect when buying a home in Alberta.
This represents approximately 0% of the purchase price.
Land Title Transfer Fee - This is the fee charged by Alberta Land Titles to register the property in your name. It is calculated as a base fee of $50 plus $2 for every $5,000 of the purchase price.
Mortgage Registration Fee - Similar to the land title transfer fee, this covers registering your mortgage against the property. It is based on the mortgage amount rather than the purchase price.
Lawyer Fees - A real estate lawyer handles the legal transfer of the property, reviews documents, and ensures everything is in order. Fees in Alberta typically range from $1,200 to $2,000 depending on the complexity of the transaction.
Title Insurance - This one-time premium protects you and your lender against title defects, fraud, or survey issues. Most lenders require it as a condition of the mortgage.
Home Inspection - While optional, a professional home inspection is strongly recommended before purchasing any property. Inspectors check the structure, electrical, plumbing, roof, and other systems for defects.
Property Tax Adjustment - When you purchase a property, the seller may have already paid property taxes for the year. You will reimburse them for the portion covering your period of ownership, or receive a credit if taxes are unpaid.
Condo Document Review - If you are buying a condo, your lawyer will review the condo corporation's documents, including the reserve fund study, financial statements, and bylaws. This is essential to understand any upcoming special assessments or issues.
GST on New Builds - New construction homes in Canada are subject to 5% GST. If the home is priced under $450,000, you may qualify for the GST New Housing Rebate, which can return a portion of the tax paid.
CMHC Insurance Premium - If your down payment is less than 20% of the purchase price, your lender will require mortgage default insurance from CMHC, Sagen, or Canada Guaranty. The premium is based on the loan-to-value ratio and is added to your mortgage.
Moving Costs - The cost of hiring movers or renting a truck varies depending on distance and the volume of belongings. The estimate provided is a typical average for a local move in Alberta.