Fees related to the sale of a property
You have made the decision to sell your home, but there are some important fees to consider when you are selling your property. Here is a summary :
Inspection / repair, test of pyrite and others
The buyer or seller often has to pay in order to have a building inspection report or some of the necessary expert tests prepared. The sale is often conditional on the result of these reports. The conditions written in these reports can sometimes result in additional costs for the seller.
Professional fees including a legal tender offer review, preparation of title transfer, time to respond to buyer requests, preparation of all mortgage transfer documents, and execution of all other details of the transaction.
Certificate of location
Document showing the current state of the property which must be prepared by a land surveyor. In the majority of cases, it is paid by the seller. There might be some exceptions.
Prepayment ; attention to penalties
Generally, this penalty will be the bigger amount between three months of interest or loss of interest incurred by your financial institution due to the total repayment of the mortgage.
Acquittlement of the mortgage; receipt
A document that relieves you of a debt, in this case, of your mortgage. It is a notary who will charge you what it costs to publish the transaction and his fees to make the move with your financial institution. Usually, the deed of receipt is obtained by the buyer's notary.
Accessory costs and account adjustment
You must pay them at the conclusion of the sale at the notary. These include property and school taxes, some heating fuels, etc. The notary is responsible for making the pro-rated calculations based on the adjustment date stipulated in the offer to purchase.
Commission of the real estate broker
If applicable, it will be deducted from the amount of the sale directly from the notary.
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