KAMLOOPS REAL ESTATE
HOME SELLER'S GUIDE: THE COSTS OF SELLING
You've spent considerable time and money on home improvements to bring your home into "showing condition" in order to sell it on the market. You've taken the dog to the neighbours when your REALTOR® hosted open houses. You're pleased that your agent has negotiated the best price on your behalf. The offer has been accepted and you're all set for your move!
Congratulations! You've accomplished a major milestone in selling your Kamloops home. There are, however, financial items you'll want to consider upon the sale of your home.
The buyer is typically responsible for these closing costs, which include:
- legal/notarial fees for handling the home sale transaction
- disbursements or out-of-pocket expenses incurred by the lawyer or notary
- property taxes 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, which include:
- real estate commissions
- building location certificate or survey
- legal and discharge fees
- outstanding adjustments owed to the home buyer
- outstanding municipal/school taxes or public service
- misc. assessments
- outstanding mortgage balance and any charges associated with discharging your mortgage early (if you're 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 REALTOR® at River City Realty can advise you on the costs of selling your home. It's also a good idea to check with your financial advisor, your accountant, and your lawyer or notary prior to the sale of your home.