Closing Cost

Commission:

Commission rates will vary depending what types of marketing plan that you choose, how seriously you want to sell your home, getting the best price possible and finally, the level of service you are expecting.

Average commission in the industry is about 7% on first $100,000 and 2.5% - 2.99% on balance.

Lawyer Fees:

It is most advisable to engage a reputable lawyer while selling your home. You will have full legal disclosure on everything that needs to happen and they also review and action all paperwork, including a Title Search, while negotiating the legalities with the buyer's lawyer.

Fees can range from around $600 upwards.

Closing Adjustments:

At the time of closing, the Seller's lawyer will prepare a Statement of Adjustments which sets out adjustments to the purchase price for items that are pro-rated between the buyer and the seller.

The most common examples are property taxes, flat water bills and condominium monthly fees.

Preparing for sale:

Most likely you will be advised to get your home ready for sale. Spending time and money on any necessary repairs, decorating, landscaping or even professional home staging makes all the difference in your home making an immediate positive impact.

Costs can vary from a few hundred dollars to thousands depending on the situation. It can make the difference between your home selling for a good price rather than hanging around on the market so long that you have to make unnecessary compromises.

Outstanding Mortgage:

You may have some outstanding mortgage payments to make, have early penalties from your lender etc.

These costs vary according to the payments you currently make and the relationship with your lender. Some lenders may facilitate you moving your existing mortgage to your new property. Buyers may also be interested in taking over your existing mortgage term and agreement on your property for sale.

Costs can vary from hundreds to thousands depending on your current situation.

Moving:

This all depends on how much stuff you have, the distance you are moving, if you are doing it yourself or hiring a professional company to take care of everything.

Prices range from hiring a van for around $20.00 for self drive van hire to hundreds if not thousands of dollars, depending on the situation and level of service required. You may also want to rent or purchase moving materials including packing boxes, bubble wrap and boxing tape etc.