Building inspection
Budget approximately $700 to $1,500 plus tax, depending on the property’s type, age, size and location. A larger or more complex building can cost more. Choose a qualified, insured inspector who provides a written report.
BUYER’S GUIDE · MONTRÉAL
Closing costs to plan for.
The purchase price is only part of the budget. Here are the principal expenses to anticipate so you can plan with confidence.
As a planning rule, purchase-related costs can represent approximately 2% to 3% of the property price, in addition to the down payment. Exact amounts vary.
Appraisal and mortgage file
Budget approximately $350 to $800 when the lender requires an appraisal. Some institutions absorb this cost while others charge it to the buyer.
Notary fees
Budget approximately $1,500 to $3,000, depending on the transaction’s complexity, disbursements and required services. Request a detailed quotation including taxes and related costs.
Mortgage loan insurance
A down payment below 20% normally requires mortgage loan insurance. The premium depends on the loan and may be added to the financing; applicable tax is generally payable at closing.
Montréal transfer duties - 2026
The welcome tax is progressive: 0.5% up to $62,900; 1% on the next bracket to $315,000; 1.5% to $552,300; 2% to $1,104,700; 2.5% to $2,136,500; 3.5% to $3,113,000; then 4%. The tax base is the highest of the price paid, the amount stated in the deed or the adjusted market value. Official example: on a $700,000 tax base, the 2026 duty is $9,349.
Adjustments at the notary
Prepaid municipal and school taxes, condominium fees and, when applicable, certain fuel costs are divided between buyer and seller as of the transaction date.
Property insurance
Proof of insurance is normally required before signing. The cost depends on the property, its occupancy and the coverage selected.
New construction and sales taxes
GST and QST may apply to a newly built home or certain special transactions. Confirm the tax treatment before signing an offer to purchase.
Condominium costs
In addition to monthly fees, allow for closing adjustments and review the contingency fund, self-insurance fund and any special assessments.
Moving and contingencies
Keep a reserve for moving, utility connections, immediate repairs, painting, furnishings and other settling-in expenses.
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