HI

Is there a way to estimate the selling costs for the house. like lawyers fees, realtors fees etc? Is it safe to assume that it will be around 3% of the selling price of the house?

I am making some estimates and any advice would be greately appreciated.


Vadasambar

If you sell your home through a real estate agent, you will have to pay a sales commission. This commission usually ranges between five and seven per cent of the final selling price and is the major cost associated with selling a home.

You may also have to pay some legal fees,land transfer tax (1.5%) and land survey fees.

If you are paying off a mortgage early, you may have to pay a penalty.

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Your attitude, not your aptitude, will determine your altitude.

Quote:

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Orginally posted by dfwrp

If you sell your home through a real estate agent, you will have to pay a sales commission. This commission usually ranges between five and seven per cent of the final selling price and is the major cost associated with selling a home.

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Try overtaking child's imagination

In addition to the above costs do not forget the cost of early pay-out penalty for mortgage, in case your mortgage is not portable or you are not buying another home. Also add the moving expenses.

You do not Pay LAND TRASFER TAX as suggested by dfwrp, when selling a home, it is the buyer who pay this amount.

If you have not listed your home and are in the process of listing the same then feel free to contact me. If you are already working with a Realtor then I do not intend to solicit.

Good Luck,

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

>>>>>>>>>>>>>>>>>>>
This is a valid point, people who purchase condo's for investment purpose forget to consider this factor. Normaly appreciation of property does not exeeding 5% mark. Any thoughts?
>>>>>>>>>>>>>>>>>>>
For condo I believe location is the most important thing.One of my friend in Montreal couple of months back bought a condo $130K and could sell it at $155K within 6 months time...then he bought a duplex
So if you want to buy condo for investment purpose you should think about the location so that in down market trend you can atleast you rent it out

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ani

Thanks for your replies. I am not planning to sell right now, but, might in the next year.

I asked for this information mainly for a financial analysis perspective

Regards

Vs

You can also learn more about various costs by visiting my website 's following links:

http://www.realestate-ontario.com/firsttimebuyer.htm

http://www.realestate-ontario.com/sellers.htm


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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/