COST FOR SELLING A HOME
REAL ESTATE COMMISSION - GST is payable on real estate commission.
PROPERTY TAXES
Before
the tax due date (in most lower mainland areas taxes are due on the 1st
business day in July) you will be required to pay a portion of the
estimated taxes for the coming year. This also applies to
utilities(water, sewer & garbage) if they are billed separately
from the property taxes.
MORTGAGES
Check
with your lender about prepayment privileges and penalties. Some
mortgages do not allow any prepayment prior to the maturity date and if
prepayment is allowed, penalties can be substantial. If you have the
right to prepay a portion of your mortgage without penalty and have not
exercised that right for the year of the sale, you should ask your
lender if they will take that prepayment privilege into account when
calculating your penalty for early prepayment.
STRATA TITLE HOMES - CONDOMINIUMS &
TOWNHOUSES
You
may be required to pay a move out fee. This is charged by the Strata
Corporation and will be deducted from the sale proceeds.
LEGAL COSTS
Legal
costs do vary. When requesting a quote ask that it include fees, all
disbursements (the cost of searches, registration fees, couriers,
photocopies, faxes, land title agent's fees, etc.) and taxes (GST &
PST) to be charged.