If you need assistance, please call 416-884-1359

AVOID HOME SELLING SURPRISES - CLOSING COSTS

Tuesday, March 29, 2022   /   by Ameil Gill

AVOID HOME SELLING SURPRISES - CLOSING COSTS

One of the most frequently asked questions I get is how much will it cost to sell my home?

On average, selling your home will cost you around 7-10% of your home's sale price. Here are the main fees are broken down:

1. Commission. On average, sellers pay 56% of the sale price as commission fees, divided between the listing and buyer's agent.

2. Transfer tax. This is a tax levied on the transfer of ownership or title on a property. This tax can range anywhere from 1-3% depending on your municipality.

3. Document prep/attorney fees. These costs are typically minimal. This is the price to manage the closing of the transaction, which includes the signing and recording of the closing documents and the deed.

It is important that your agent puts together a seller net sheet for you to review, which is a document that estimates how much cash you will receive once you subtract the expenses associated with selling your home, as well as your mortgage payoff amount.

Wondering how much you could walk away with if you sold your home right now? Let's chat I would be happy to give you an estimate based on your home's current market value!

#realestate #realtor #realestateagent #commission #homeselling #sellinghomes #sellingyourhome
REMAX Realty One Inc. - The Gill Team
Ameil Gill
50 Burnhamthorpe Road West Sussex Centre Ste #102
Mississauga, ON L5B 3C2
416-884-1359

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2022 Last Updated May 20, 2022
This site powered by CINC: www.cincpro.com