Performance Realty
Brokerage, Independently Owned and Operated
(613)-238-2801

 

  
Closing Costs to Expect When Selling Your Home 

While closing costs are significantly less for a Seller than for a Buyer, you still need to be prepared so you can budget accordingly.  It is wise to speak with your Lawyer several days before closing to ask about how much your total adjustments will be.  Your Lawyer should be able to give you a fairly accurate cost breakdown, so be sure to ask!    Normally all of the costs will come off the proceeds of the home, so unlike a buyer, you are not taking a cheque to your Lawyer.  But knowing how much money will come off the total selling price is always a good idea. 

We’ve put together a list of the common closing costs, so you can start to plan ahead!

 

As a general guideline, budget approximately $1000 to $1200 with 1 mortgage.

Legal Fees:  $700 - $900 plus:

  • Discharge Fee for each Mortgage / Registration:  $71.30 (includes tax)
  • Tax Certificate:  $64.00 (includes tax)
  • Bridge Financing Costs:  $150.00
  • Any adjustments (taxes, oil, condo fees):  varies
  • Each additional mortgage is an extra cost of $150 - $200 plus the extra discharge fee
  • HST:  13%

Commission – as discussed with your Realtor®, plus:

  • HST:  13%

 

NOTE : All costs are approximate, some may vary depending on Law firm. Please check with your Lawyer and Lender for a more accurate breakdown.  


 
 
Tel: (613) 238-2801
Toll Free: 1-877-757-7386
Fax: (613) 238-458
3
165 Pretoria Ave.
Ottawa, Ontario
K1S 1X1
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