Seller’s Closing Costs

So you’ve sold your house, that’s fantastic! But I’m going to burst your bubble (same way I did in the Buyer’s Closing Cost tab),The price you received for the sale of your home is not final. There are a few costs associated to selling your home. Here are some of them.

Status Certificate

For condo sales only. This certificate is requested by the buyer upon an accepted offer. It outlines the financial, structural and communal health of the condo corporation and building. The cost is about $200. The buyer’s lawyer will review the information in the certificate and counselling the buyer on whether or not to proceed.

Survey

If a survey is available, the cost to acquire is minimal. If one is not available and the buyer insists on it or there is a dispute regarding property lines or easements you may have to have a new survey produced. This could cost in upwards of $1000.

Legal Fees

Lawyers vary in pricing, $400-$800 not including disbursements. It is not a bad thing to take Christine Denty’s opinion on who to use if you don’t have one in mind. A busy REALTOR® works with lawyers quite a bit. Also if you have a friend, co-worker or family member who has had a good experience this is also a good place to start. It is a good idea to look them up on the Better Business Bureau as well to see if there have been any real issues in the past. http://www.bbb.org/

Staging

Your stager will require funds upfront or immediately after the staging has taking place. The cost of this may vary from stager to stager, $500-$5000.

REALTOR® Commission

This will be included in the lawyer’s statement of adjustments and charged at closing. This amount can vary between 5-7% + HST of the sale price of the home. From this amount the buyer’s REALTOR® and your selling REALTOR® are paid.