You’ve negotiated a great deal for the sale of your home and are wondering how much of that great deal will be going into your pocket at the end of the day…here’s what to expect for your deductions:
Lawyer/Notary Fee – $750 – $1300**
- Includes discharge of mortgage, payout of obligations, transfer and registration of title, disbursements.
- Cost varies based on number of financial charges to be transferred/discharged, other variables.
- For a list of recommended professionals, CLICK HERE.
Real Estate Marketing Fees **
- The Competition Act prohibits the standardizing of real estate fees. Therefore, agents are free to charge what they decide to charge and fees are negotiable.
- GST is applicable on all real estate fees.
- There are many different business models to choose from, with negatives and positives to each.
- The Bastien Group is a full service real estate marketing group that charges a percentage in line with prevailing rates offered in the lower mainland.
Mortgage Discharge Penalty (If applicable)**
- In cases where a property is being sold and the vendor is not purchasing another property, the existing mortgage will have be discharged.
- Penalties for early discharge can vary greatly.
- Variable (open) rate mortgages typically have smaller penalties (example: 3 month’s worth of interest portion of payments).
- Fixed (closed) rate mortgage typically have much larger penalties, yet occasionally they have smaller penalties…depending on the individual mortgage agreement.
- Please contact your broker/lender in order to determine your discharge penalty BEFORE selling your property!!!
Moving Day Checklist
**While the Bastien Group makes every effort for accuracy and detail, please note that due to the varying service providers and scenarios in real estate, there may be variances in both costs and services AND there may be other costs not accounted for on this page. Although we have strived to provide a conservative estimate on most items, it is highly suggested that these items are not solely relied upon and independent confirmation is obtained from the service provider of your choosing.