5) Closing Costs
Fees to Close Your Property
Closing costs in Alberta are very low compared to Ontario and BC. The major costs typically include:
Legal Fees
Prepaid Property Taxes
Prepaid Condo Fees
Prepaid HOA Fees
Mortgage Appraisal Fee
Land Transfer Taxes
In Alberta there are no Land Transfer Taxes or Development Charges and the developer typically pays for the Warranty Enrollment Fee! Any GST Rebate component is already included your purchase price as well. All pre-paid fees aren’t really a closing cost - you’re just paying these monthly expenses in advance.
Total Closing costs should be $2,500-$3,000 + any pre-paid taxes/fees + the extra down-payment required for your mortgage.
My Actual Closing Costs for a 1 bedroom condo in Calgary, closed in May 2025.