With many Coal Harbour Condos for Sale in Vancouver and those looking to put their Vancouver Yaletown Condos up for Sale also, the question I’m often asked by sellers is: Who Pays the Closing Costs When You Sell a Home? – which I am here to answer!
Coal Harbour Condos for Sale in Vancouver
If you’re thinking of putting your Coal Harbour condo up for sale in Vancouver, you will definitely have affluent buyers at the ready to purchase your property. And, you will definitely come out ahead on your investment based on the real estate selling price boom in Vancouver. Although some condo owners may worry about their next buying decision and the cost that will involve, which leads me to the question at hand.
Who Pays the Closing Costs When You Sell a Home?
First of all, let’s define “closing costs” as it pertains to buying and selling real estate in Vancouver.
Whether your buying or selling a home, your real estate agent will get paid once the sale completes. This comes out of the proceeds of the sale on the sellers side. It is a small price to pay for all the variables involved. So decide accordingly.
Roughly $1200 for each the Buyer and Seller in legal fees will also be part of the process. This is due to registration transfer of title.
Unless your condo is paid in full, there are usually bank charges involved in your closing fees. Costs such as: a discharge fee or prepayment charges on your mortgage are most common. Alternately, if you are buying another piece of property and simply transferring your mortgage, your mortgage broker may wave this fee.
Other Fees Include…
Closing out utilities, property taxes, foreign taxes and capitol gains taxes. Like they say: death and taxes are the only sure things in this life!
So if you have a Vancouver Yaletown Condo for Sale, or are looking to buy a Coal Harbour Condo in Vancouver – I’m here to help and look forward to doing so. I can answer any additional questions about closing costs, and help you make the highest profit for your sale!