Costs to Expect When Selling Your Home

When you sell your property, there are several costs to keep in mind:

• Real estate commission – This is the amount you agreed to pay to your real estate agent’s brokerage.

• Legal or notary fees – These cover the work needed to transfer the title to the buyer.

• Mortgage discharge fees – If you have a mortgage, there may be legal costs to discharge it.

• GST – This applies to both the real estate commission and legal/notary fees.

• Mortgage prepayment penalties – If you're paying off your mortgage early, your lender may charge a penalty.

• Property taxes – You’ll need to pay your share of the year’s property taxes if they haven’t already been paid, plus any late penalties if applicable.