Costs for real estate sellers
Realtor commissions are paid by the Seller. Our listing commission is 7% on the first $100,000 and 2.5% of the remainder of the final sale price. (12.0% HST (Harmonized Sales Tax) is applied to the commissions). This commission is shared between the listing realtor and buyer's realtor so as the Seller, you pay only the one commission. Commissions will be deducted from your sale proceeds by your legal representative, at the time of completion, and paid directly to the realtors' brokerages on your behalf. There are no aditional fees charged by us to list/sell your property.
This document is required for all non-resident owners disposing of real estate in Canada. Fees for its preparation and filing vary and usually range from $300-$1000 plus tax and dispersements, depending on the nature of the transaction. Please see our Selling: Non-Resident Issues page for more details.
Capital Gains Tax
Capital Gains tax is not applicable on your principal residence if you are a Canadian resident. It is applicable for second residences and investment properties for residents and non-residents alike. Generally speaking, capital gains tax is levied on 50% of the gain at the seller's marginal incpome tax rate. Like many other taxes, this rate and its application will vary depending on many factors. We strongly recommend that all sellers consult their lawyer and accountant to determine exactly how the Capital Gains tax applies to them.
You'll require a Lawyer or Notary Public in order to transact your sale, transfer title and discharge your mortgage if required. Costs usually range between $600 to $1500 plus dispersements plus GST, depending on the nature of the transaction. Please see our Lawyer and Notaries page for a list of excellent local legal representatives.