Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

How much do I need saved for closing in Saskatoon?

Budget roughly 4 to 6 percent of the purchase price for total closing costs in Saskatoon, covering legal fees, a home inspection and mortgage-related charges, on top of your down payment, which the Saskatchewan REALTORS Association and most local lawyers use as the standard planning range.

Legal fees make up a large share of that, typically $800 to $1,500 for a straightforward purchase handled through a lawyer's trust account, and that same lawyer closes the deal through Information Services Corporation.

A home inspection, typically $400 to $600, and mortgage default insurance through CMHC, Sagen or Canada Guaranty if your down payment is under 20 percent, both come due before or at closing, and Saskatchewan charges PST on that insurance premium at closing too.

Ask for a firm statement of adjustments from your lawyer well before your possession date, not after. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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