Costs to consider before selling a home

The price a home sells for is not the amount that remains after the sale. Listing the likely costs early makes conversations with your advisers more realistic. Amounts vary by property, agreement, and lender, so this page lists what to ask about rather than giving figures.

• Cleaning, decluttering, and possibly temporary storage
• Minor repairs, touch-up painting, or yard work
• Larger repairs, if an inspection or obvious issue calls for them
• Staging or furniture rental, if recommended

Not every repair pays for itself. A useful question for any proposed work is: what will it cost, how long will it take, and what difference is it likely to make to buyers?

Commission and any related fees are set out in the listing agreement. Ask for the full fee structure in writing before signing, including how fees are calculated, when they are payable, and whether applicable taxes are added.

A lawyer or notary prepares the documents to complete the sale and transfer. Ask them for an estimate of their fees and disbursements. Separately, your family lawyer can explain any costs related to agreements between owners.

If there is a mortgage or line of credit secured on the home, it is usually paid out from the sale proceeds. Ask your lender:

• What the payout amount would be on a likely completion date
• Whether a prepayment penalty would apply, and how it is calculated
• Whether there are discharge or administration fees
• Whether the mortgage could be transferred to a future purchase

• Movers, packing supplies, and storage
• Overlapping housing costs if a move and a sale do not line up
• Property tax and utility adjustments at completion
• Strata-related items, such as document fees or upcoming levies, if the home is in a strata
• Any tax questions about the sale, which belong with an accountant or tax adviser

How sale proceeds are divided is not decided by the real estate professional. That is handled through your legal advisers and the applicable agreements or process.