($250-$400) • Realtor Commission — if you use an agency/real estate professional to sell your home. • Land Transfer Tax — varies according to province and depends on purchase price • Adjustments/Prorated Costs for Annual Expenses — includes property taxes, condominium fees, and utilities • Other Fees Sometimes Paid by Seller — appraisals, inspections, closing costs, etc.* **According to Mortgages.ca, lenders request appraisals and the borrower (seller) pays the appraisal cost. However, many home buyers, especially first-timers, order one on their own to protect themselves. Further, closing costs can’t usually be paid by the seller on the buyer’s behalf in Canada.
Forgetting to Cancel/Switch Utilities and Insurance
Many sellers overlook notifying utilities that they are moving or applying for utility service at their new home. Call the utilities and your insurance company as soon as a contract is signed. Find out how many days’ lead time they need to switch or cancel, then get back with them when you have a firm closing date.
Letting Emotions Take Over
Keep calm throughout the selling process, especially during and after a house inspection. Be practical and presume that issues will arise. It’s not uncommon to have to pay for some repairs. Don’t let the buyer’s request to complete a minor repair kill the deal.
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