The Cost of Selling Your Home

The following are some of the usual closing costs when you sell your home:

Legal Fees

Fees will range from firm to firm. Expect to pay, for selling a house under $1M about $600 to $1000. The lowest price is often not the best way to go. Pay attention to the time it takes for a lawyer to respond to your inquiry. If they are slow to respond when you want to give them work, imagine how long it may take if there is an issue important to you. Kahane Law Office includes usual disbursements in our quoted fees (not estoppels or RPRs) but many firms do not. Ensure you ask in advance what is and is not included. Listed below you will find other disbursements.

Land Titles Registration Fees (Provincial)

A disbursement to the land titles office. This fee (the cost of transferring the property into the buyer’s name) is paid for by the purchaser.)

Compliance Letter (Municipal)

The fee is $93 (subject to change) in Calgary. It is a stamp or letter that the Municipality confirms that the improvements on the property comply with local land bylaws and that everything on the property actually site on the property. If things do not comply or sit off the property, then you may need to get an encroachment agreement or a relaxation permit.

Tax Certificate (Municipal)

Municipalities charge this disbursement. It proves that your taxes are paid up to date or if there are arrears, whether you pay annually or monthly or if there are any levies.($10-$45)

Real Property Report (RPR)

Expect to pay $500 to $700 for a RPR in a major center. Rural properties may cost more due to travel costs and larger properties. Apartment style condos do not require a RPR. bare land condos do. If you purchased a property using the standard real estate purchase contract that real estate agents use, then there should have been an RPR given to you by your lawyer when you bought the property. If there are any structures on the property that are not shown on the RPR, then you need to get an updated one. Calling the surveyor who did an existing RPR for an update is less expensive than ordering a new one.

Property Tax Adjustments (Municipal)

If you pay your taxes once a year (June 30th) and you are selling your home between January 1st and June 30th, there will be an adjustment for the taxes to the benefit of the purchaser. You do not pay anything for this item, however you will receive less from your sale proceeds. (ranges form nothing to one half the annual tax levy)

Estoppel Certificate and Certificate of Insurance

This disbursement is for Condos only. They show that condo fees are paid up, that there is insurance on the building and that there are no special assessments not paid. ($100-$300)

Copy of Title

A copy of title has to be pulled showing the registrations on title. These include caveats, mortgages, liens, restrictive covenants, etc. (about $7)