Closing Costs & other Expenses

Closing costs vary as each transaction is unique and listed below are the most common.

 As a seller you can expect approximately between 6% to  10% of your home's sale price, which rather will be deducted from your profit. 

Other expenses most likely have to be paid before, on, or after closing.

Real Estate


If you decide to get represented by a real estate agent exclusively, a commission is one of the larger closing costs at settlement, which usually would only be due if the house sells. The average commission is between 5% to 6% and generally will be split between your and the buyer's representative, but covered by you.

Real estate commissions are subject to HST.

Home Inspection


The majority of buyers often instruct their representative to include a home inspection condition in their offer and are often paid by the buyer. One strategy could be to complete a pre-listing home inspection and having these information available for potential buyers. It can encourage a firm deal without conditions. It also gives you an opportunity to address minor or major repairs in advance, minimizing the risk of buyers backing out or renegotiating the terms of the agreement.

Home Staging


Depersonalized and open space can make a difference to help potential buyers to visualize their home. On average staged homes sell 88% faster and for 20% more than nonstaged homes. Staging can appeal to a broader clientele, if it's done professionally. Staging strategies also include decluttering, depersonalizing up to adding a fresh coat of neutral paint, art, light, rugs and furnitures.



A lawyer's fee vary from the complexity of each transaction. Their service can be enlisted before or after signing an Agreement of Purchase and Sale as to your preferrence. Beside guiding you through contractual commitments, he can identify potential problems, mitigate delays or expenses and ensuring the home's title is transferrable to the buyer.

Mortgage Discharge


If you end your mortgage before your mortgage matures, depending on your lender's terms you might need to pay a penalty for discharge. Discharging your mortgage often requires a lawyer or notary.

Title Insurance


Title insurance is optional and up for negotiation between you and the buyer.

In some instances a home seller cover the buyer's owner title insurance to sweeten up the deal.


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