What is the Cost of Selling Your Home
There are cost associated with selling a home. Here I will break them down for you to help you with budgeting and to avoid surprises later.
In most cases, when a home is sold, the seller pays an agreed upon commission to both the Listing Agent (the agent representing the seller) and the Selling Agent (the agent representing the buyers). This commission will be agreed upon with your Listing Agent in your Listing Agreement and Confirmation of Cooperation. This is standard for Ontario real estate transactions.
You may need to do some renovations or repairs to get your home market ready. It is important to do a thorough evaluation of your home and to budget for these costs.
It is highly recommended that the entire home, inside and outside, receive a fresh coat of paint. This will make your whole home look fresh and clean.
You will need to hire a real estate lawyer and their prices can vary. Legal fees for the seller tend to be less than for the buyer.
This cost can vary dramatically depending on a variety of factors: where you are moving to, how much stuff you have, and will you be hiring movers or doing it yourself? Take some time now to estimate these costs and build them into your budget.