U.S. policies often have a significant spillover effect on Canada, especially when it comes to interest rates, housing markets, and consumer costs. Key U.S. policies and their potential impact
Dated: October 9 2024
Views: 317
NEW ALBERTA land title registration costs
Starting Oct. 20, 2024, buyers in Alberta will face increased closing costs due to a new Land Titles Registration Levy.
This change, announced in Budget 2024, will replace the current variable fees for transferring land and registering mortgages with a flat levy of $5.00 per $5,000 of property or mortgage value, along with a $50 flat fee. This new structure applies to transfers of land, mortgage registrations, and some caveats.
Key details
How the levy impacts buyers
A typical real estate transaction, such as purchasing a $750,000 home with a $650,000 mortgage, would currently cost about $595 in fees. After the levy is implemented, that same transaction will cost $1,500—more than double the previous amount. This increase may surprise buyers, so it's crucial to inform them ahead of time to manage expectations.
Alberta will continue to have Canada's lowest title transfer fees. While this may not be welcome news, transparency is key to navigating the complexities of home buying.
Calculating the difference
If a property is purchased for $750,000 and the buyer will be getting a mortgage for $650,000, the fees for the Land Titles Office costs are compared below.

Highly competent, experienced and approachable, the Coutts Team puts a priority on building a rapport with clients. Their expert marketing ensures everyone has a truly great experience, with the least....
U.S. policies often have a significant spillover effect on Canada, especially when it comes to interest rates, housing markets, and consumer costs. Key U.S. policies and their potential impact
The lowest rate isn't always the best rate: Here's whyWhen shopping for a mortgage, it’s easy to get drawn in by the lowest advertised rate. After all, who doesn’t want to save on
The federal government has just unveiled a new mortgage refinancing program to help homeowners build additional living spaces, such as basement apartments or converted garages.Starting in January
NEW ALBERTA land title registration costs Starting Oct. 20, 2024, buyers in Alberta will face increased closing costs due to a new Land Titles Registration Levy. This change, announced