You’ve
spent considerable time and money on home improvements
to bring your home into “show” condition.
You’ve taken the dog to the neighbors
when your REALTOR® hosted open
houses. You’re pleased that your REALTOR®
has negotiated the best price on your behalf.
The offer has been accepted and you’re
set for your move. Congratulations! You’ve
accomplished a major milestone in selling your
home.
There are financial items you’ll want
to consider upon the sale of your home. The
buyer is typically responsible for these closing
costs including:
legal/notarial fees for
handling the sales transaction
disbursements or out-of-pocket
expenses incurred by the lawyer or notary
property tax and utility
adjustments
land transfer or "welcome"
taxes
As the seller, you’ll also have some
debts to discharge before you can access your
funds, including:
real estate commissions
certificate of location,
or survey
legal and discharge fees
outstanding adjustments
owed to the buyer
outstanding municipal/school taxes or public
service
assessments
outstanding mortgage balance and any charges
associated with discharging your mortgage early
(if you are not transferring your mortgage to
your new home, or the buyer is not assuming
it)
As fees and costs vary from province to province,
and city to city, your professional REALTOR®
can advise you on the costs you’re likely
to face when selling your home. It’s also
a good idea to check with your financial advisor,
your accountant and your lawyer prior to the
sale.
You’ve
spent considerable time and money on home improvements
to bring your home into “show” condition.
You’ve taken the dog to the neighbors
when your REALTOR® hosted open
houses. You’re pleased that your REALTOR®
has negotiated the best price on your behalf.
The offer has been accepted and you’re
set for your move. Congratulations! You’ve
accomplished a major milestone in selling your
home. 
