Hi, thanks for your question.
When selling private property, aside from the agent’s commission (usually around 2%) and buyer’s stamp duty (which the buyer typically pays), there are a few other costs you should keep in mind:
• Seller’s Stamp Duty (SSD): Payable if you sell within the SSD period (up to 4 years depending on purchase date).
• Legal fees: Conveyancing fees for your lawyer to handle the sale, typically around $2,000 to $3,000.
• Property tax: Prorated to the date of sale.
• Outstanding mortgage redemption fees: If you have a loan, you may incur early redemption penalties or administrative fees.
• Valuation fees: Sometimes required if you have a mortgage.
• Home staging or marketing costs: Optional but can help sell faster.
If you want help estimating your total selling costs or advice on timing your sale, feel free to contact me. I’m Aren from PropNex, reachable at
9657 6701
. Happy to assist.
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