Our aim is to provide you with clarity regarding you legal expenses at the beginning so you can properly budget for your sale. Moving is stressful enough without finding out on closing that the costs are higher than anticipated.
There is a small variance in legal costs from law firm to law firm and our legal costs are competitive with other law firms. Give us a call at (613) 746-8115 and we will be pleased to provide you with both the total legal costs (fees, all expenses and HST) as well as a breakdown so you can properly budget for your sale.
On closing, we will pay from the sale proceeds, your real estate agent’s commissions owed for their assistance in selling your home. Keep in mind that there is HST applicable on those commissions; something that people sometimes don’t realize.
On closing, we will pay out the balance owing on your mortgage or secured line of credit. On top of the balance owing, the lender will be charging an administration fee to discharge the debt (usually around $300 or so).
If you are paying out your mortgage prior to maturity, you will likely be subject to an early payout penalty which is often the greater of:
You also need to budget for: