| There are several closing costs to consider when selling
your home.
Legal Fees
The lawyer generally charges a fee of between $400 and $500 plus disbursement
such as photocopies, courier, mortgage discharge.
The total cost you can expect to pay is approximately $600 -$700, but
call your lawyer who will give you an exact price for closing your deal.
Mortgage Fees
Most mortgage companies will charge you an discharge fee.
In addition, the mortgage company may charge a penalty of either 3 months
interest or a loss of interest fee (whichever is greater) if you discharge
your mortgage before maturity. However many mortgage companies will reimburse
this if you are taking a mortgage of equal or higher value on another
home. Confirm this with your home lender
Real Estate Fees
Real estate fees are calculated on a fixed percentage of the sale price
of your home (this percentage will be whatever was agreed upon in your
listing contract), plus GST at the prevailing rate. |
