What is the cost when you sell a house or condo

Release Date: 2017-03-09Back

1.Lawyer fee

$ 600- $ 2000 range, depending on the type of lawyer, the size of the house, and the house of the loan situation.

2. Real estate company commission

Real Estate Commission Real Estate Company commission + HST (tax)

Example: If your house is sold for 500,000 and the total commission (%) is 5%, then the total commission is:

$ 500,000 (Sold Price) X 5% (Commission Rate) = $ 25,000 (Net Commission)
B. $ 25,000 (Net Commission) X 13% (HST) = $ 3,250 (Total HST) Total commissions: $ 25,000 + $ 3,250 = $ 28,250

3. Discharge of Mortgage

A. The loan may or may not have a fine (Penalty)

B. Consult your lender
C. If your home loan is due recently, and after you expire, you are ready to sell the house immediately, and it may be better to choose an open loan (Open Mortgage). Although the monthly loan interest will be higher, but will save money on the fine.
 Example: Your home loan will expire on June 1, and this time you intend to sell the house, if your house is sold at the end of June, closing the house at the end of August, if you choose to open the loan, then you Only in the 6,7,8 three months to pay a little higher interest rates, when the lifting of the loan, there will be no fine. The specific situation, but also with your loan structure advice.

4. Moving costs

Moving costs vary widely. Depending on the way of moving, is their own car rental, their own packaging, or professional moving company. At present, the moving company in the Greater Toronto area is usually two hours starting at a minimum of $ 50 per hour and also based on the time you move (the busiest at the end of the month), the location (for example, some moving companies, over a certain distance, extra Oil collection), floor, whether there is a piano, etc., additional charges.

5.Status Certificate

If the house has a management fee, such as an apartment, or an apartment town house, it is usually necessary for the seller to provide the report at a cost of about $ 100.




Source of the North American SouFun