COSTS OF SELLING

There may be a penalty fee for repaying your mortgage ahead of schedule. Depending on the specifics of your mortgage (term, open or closed, etc.). Sometimes lenders will agree to wave this penalty if you are buying a new property and mortgaging with them. Make sure to verify the fees with your current lender.

The notary will have fees associated to the  payment and radiation of your mortgage, if applicable. There may also be some administrative fees. These fees vary from notary to notary so it is important to verify with the buyer's notary to know how much you will be charged. 

The certificate of location is required by the notary and the lender for a real estate transaction. It must be less than 10 years old and represent the current state of the property. It is usually the responsibility of the seller to provide an up to date certificate of location to the buyer. 

The seller has the responsibility to provide a clear title to the buyer. That being said, in some cases title insurance would be needed to protect the title of the new purchaser. It is a one-time payment made by the seller. Prices will vary so it is important to verify with the notary. 

Commission rates will vary from broker to broker. It is most often based on the services they offer, what is included, and their level of involvement in the transaction. For more detailed information on our commission rates please contact us. 

We suggest that you have your home inspected prior to putting it on the market. This will ensure that you know the condition of your home and it will prevent getting any surprises at the time of the buyer's inspection. 

Keep in mind that following a buyer's inspection there may be things that they request you fix (or they may ask for a price reduction). 

The adjustments are calculated by the notary and paid for at the signing of the deed of sale. You may have paid certain costs in advance (heating oil, municipal and school taxes, snow removal, etc.). Depending on when the new owners take ownership and what has been paid, you may be reimbursed or have to pay for the period in which you were the owner.

Moving usually always comes with costs, whether you are hiring a moving company or going at it alone with the help of friends and family. If you will be moving out of your current home before moving in to the next, consider potential storage fees.

If you want to hire moving professionals, check out the John Gray Moving promotion offered to our clients.

It is prudent to budget for unforeseen costs that could come up during the sale of your property. For example, if your furnace breaks prior to the signing of the deed of sale you will have to have it fixed before the sale.