Property tax adjustments are the line item buyers most often miss. If the seller has prepaid taxes for the year, the buyer reimburses that prepaid portion at closing, and if taxes are owing, they are deducted from the seller's proceeds instead, a proration a lawyer calculates precisely rather than estimates.
There is no land transfer tax on the buyer side in Saskatchewan, which is a real difference from some other provinces, but there is still a modest ISC registration fee tied to recording title and the mortgage.
A lawyer's trust account handles all of these funds together, and a Saskatoon buyer should expect a written statement of adjustments a few days before possession that lays out the exact total, not just an estimate.
Get your hand-reviewed valuation from Joel Dyck.