Typical Cost of selling a home in Metro Vancouver:

Real Estate Agent Fees + GST

• Typical commission structure is 7% on the first $100,000 and 2.5% on the balance of the sale price, this is split between the buyer's and seller's agents. This can vary since there is no fixed commission.

• Example Commission on $1,000,000 sale price = $29,500 + GST

Legal Fees + GST

• Expect to pay between $1,000 and $2,000 for legal services. This includes title registration.

Mortgage Discharge Fees

• Any prepayment penalty levied by the financial institution for early pay-out of an existing mortgage.

Utilities and Property Tax

• Your share of the property taxes and city utility for the year if the current year’s taxes have not yet been paid, plus any penalties due for late payment of unpaid taxes and city utilities. This cost will be adjusted by your lawyer/ notary at the time of closing.

Strata Fees

• If you live in a strata property, consider any fees associated with selling, like obtaining a current strata document package, plus any fees owed to strata corporation, and move in/ out fee. 

Capital Gains Tax

• If the property is not your principal residence, you may be subject to capital gains tax on the profit from the sale. Speak to your accountant for details.

Other Costs to Consider:

• Moving Costs

• Pre-Listing Inspection

• Home staging

• Renovations and repairs