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Apr 11, 2014 · With residential conveyancing at our firm you can be guaranteed of the following: A custom quote for legal fees for the title transfer for your deal provided to you by email upon receipt of conveyance instructions (usually weeks in advance of closing) – this means no surprises.
How do I pay these closing costs? Some of these closing costs you will pay yourself, such as cleaning fees, storage fees, moving fees or property insurance. Some of these closing costs you will pay through your Realtor, broker or BC Notary or lawyer.
- What Are Closing Costs When Selling?
- Notary Or Lawyer Fees For Selling A House in BC
- Realtor Commission Fees
- Strata Document Fees Or Strata Fees
- Mortgage Discharge Fee
- Other Costs When Selling A Home
- Cutting Into The Bottom Line
First, what are closing costs? Finder.comstates that closing costs are additional costs that the buyer and seller of real estate incur, on top of the selling price of the property. In British Columbia, the average home sale price is between $675,000 to $700,000 and the average closing costs are $21,000 with a range between $14,000 and $28,000. Open...
Yes, there are definitely legal fees for selling a house in BC. One of the main closing costs when you sell a home in BC are the notary, lawyer, or legal fees to prepare your home sale disbursement package. This varies and can cost between $800-$2000. I personally used a notary public as it is more economical than using a lawyer. In British Columbi...
Ahh, realtor commission fees in BC, my utmost favourite topic… it is guaranteed to get me fired up. Many people don’t realize this, but when you buy a home, the seller of the home pays for your buying realtor commission fees.As the seller, you pay the buyer and selling realtor’s commission fees. The commission paid is agreed upon in the Contract of...
This is applicable if you live in a home that has a strata. The strata documents are usually included in the realtor commission and it costs around $100- $150 or so (they request the documents from your strata). However, there are additional costs like the strata fee to be paid by the seller for the month (if you haven’t been charged for the strata...
If you have a closed mortgage and you are not porting your mortgage, you will have to pay a fee to cancel your mortgage. If you have an open mortgage (and pay the penalty of a higher interest rate like I did for many many months), you will not have to pay the mortgage discharge fee when you sell your home. I chose an open mortgage a few years agobu...
There are other costs as mentioned which can eat away at your net proceeds, but these would have been incurred before you sell your home and receive the actual money. 1. Staging costs.I paid around $3000 to stage a 1 bedroom condo. It was worth it. 2. Painting.I paid $700 to get a fresh coat of paint. This probably didn’t need to be done but it bri...
Well, how much does it cost to sell a house in BC? All in all, the closing costs such as the notary, realtor, strata document with the additional costs such as staging, painting, and getting new window coverings, this ended up being over 2% of the agreed selling price. In addition to these costs that cut into your bottom line, although this may be ...
British Columbia closing costs equate from 2% to 4% of the property value and are important considerations when buying a home. Calculating additional costs and legal fees into your BC real estate purchase will help avoid any big surprises come the time of completion.
“Borrower’s Closing Costs BC Edition”: below is a list of commonly incurred fees & closing costs for mortgaging or refinancing property in British Columbia, Canada. • Legal Fees (Notary or Lawyer): Cost can very depending on the transaction details.
Here is an example for fairly typical “closing costs” for a real estate transaction in BC for the purchase of a Strata Condo or Townhouse (used residential housing) with a Mortgage being registered (institutional lender): Fees. *$995. GST/PST on Fees. $119.40.
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Finding all the fees that make up the closing costs of selling a property can be daunting. Let's break down the real costs and fees I paid selling my home.
