Condos for sale richmond hill . What are the charges? Selling a house, which is different from selling vegetables, is basically the biggest asset of the seller’s life. It is very important to find a reliable real estate agent. A good real estate broker, a successful negotiation can help the seller to sell tens of thousands to hundreds of thousands of Canadian dollars, which often happens in reality.
(1) Real estate agent commission + HST (tax).
In the Toronto area, the commission of a real estate agent is usually 4% of the sale price. 6%. In the greater Vancouver area, real estate agents typically charge 7 per cent of the first 100000 of the sale price + 2.5 per cent of the rest. For example, if the price of a house is C $1 million, the seller has to pay a commission of about C $30, 000 to the real estate agent.
(2) legal fees for the sale of houses.
The price varies from $600 to 2000, depending on the lawyer, the size of the house, and the loan of the house.
(3) fees for the discharge of bank loans:
Removal of bank loans may or may not be fined (Penalty). Generally speaking, when a house loan is not due, the bank will ask you to pay a fine according to the loan contract. The fine is usually equal to three months’ interest. If your home loan is due recently and you are ready to sell your house immediately after it expires, it may be better to choose an open loan (Open Mortgage). Although the monthly interest on the loan will be a little higher, it will save money on fines. Example: your home loan is due on June 1st, and at this time, you plan to sell your house. If your house is sold at the end of June and (Closing), at the end of August, if you choose to open the loan, then you will only pay a higher interest rate in June, July and 1983, and there will be no penalty when the loan is lifted. For the specific situation, you should also consult with your loan bank.
(4) moving expenses:
It depends on the way you move, whether you rent your own car, pack your own bags, or a professional moving company. Also according to your moving time (the busiest at the end of the month), location (for example: some moving companies, more than a certain distance, extra charge for gas), floor, whether there is a piano, etc., extra charge.
(5) Asset value-added tax:
According to Canadian tax law, it is an obligation for every Canadian citizen, Canadian permanent resident and overseas investor to pay capital gains tax. If the tax is not declared or evaded, the Inland Revenue Department may issue a ticket to make up the tax and pay the fine. The specific algorithm of Canadian real estate capital appreciation tax is: real estate sale price-real estate purchase price-various fees (lawyer fees, land transfer fees, real estate brokerage fees, etc.) = real estate appreciation price. Half of the value-added value of the property is subject to tax.
(6) proof of identity Status Certificate.
If the house sold has a management fee, such as an apartment, or an apartment-style town house, the seller is usually required to provide this report when selling the house, and the cost is about $100.
Although buying a house is to abide by the principle of paying money and delivering goods on the other, buying a house does not seem to be so simple. The truth is, I paid 1 million, but I couldn’t get the house right away. When the house is handed over, you only need to pay a certain percentage of the down payment and related taxes to get the key.
The transfer fee paid by the house is not equal to the purchase price of the house.
