1. 🏠 Realtor Commissions: The Biggest Expense
- Agent fees typically range from 3% to 7% of the final sale price, often structured as 7% on the first $100,000 and 2.5–3% on the remainder, plus 5% GST.
- This commission is usually split equally between the seller’s and buyer’s agents.
- These fees are negotiable—sellers can often secure lower rates in strong markets or with simplified services.
2. 📜 Legal or Notary Fees
- Essential legal work includes title searches, preparing closing documents, and executing mortgage discharges.
- Fees typically range from $800 to $2,000, averaging around $1,200 for standard transactions.
- Disbursements (e.g., registration, couriers) may add $200–$400; in complex cases, total legal fees can reach $3,000 or more.
3. 🔧 Prep, Staging & Repairs
- Pre-listing inspections cost $300–$600, helping spot issues before buyers do.
- Staging and home prep can range:
- DIY updates: a few hundred dollars
- Professional staging: $1,500 to $5,000, depending on home size and scope.
- Repairs and improvements—even minor ones—often cost 1–3% of your home’s value (e.g., ~$10,000 on a $500,000 home) .
4. 🏦 Mortgage Discharge Fees
- Discharging your mortgage may include legal fees and penalties, typically around $200–$350, depending on the lender and contract.
5. 📋 Closing Adjustments & Other Costs
- Prorated property taxes, utilities, and strata fees up to the closing date must be paid.
- If selling a strata property, fees for status certificate, Form B/F, etc., may cost $100–$500 cashoffer.ca.
- Moving costs vary:
- DIY truck rental: $200–$500
- Professional movers: $1,500–$3,500+ depending on distance and volume .
6. 🎯 Typical Total Cost Estimate
For a $750,000 home sale, a realistic breakdown might be:
- Realtor fees (~4%): $30,000 + 5% GST = ~$31,500
- Legal fees: $1,200–2,000
- Prep & staging: $3,000–5,000
- Inspection: $400–600
- Mortgage discharge: $200–350
- Closing adjustments: varies, typically a few hundred dollars
- Moving: $1,500–3,000
Estimated total selling cost: around $37,000–$45,000, roughly 5–6% of sale price.
7. 💡 Tips to Reduce Costs
- Negotiate commissions—rates vary; ask for better deals in active markets .
- Shop lawyers/notaries—expect $1,200–1,500 for standard transactions; anything above $3,000 warrants review .
- Stage smartly—small enhancements often yield big returns; prioritize high-impact areas .
- Get a pre-listing inspection—better to fix issues early than renegotiate later.
- Bundle moves—if moving locally soon, combine services or shop multiple quotes .
8. 📌 Final Thoughts
Selling a home in BC involves multiple costs—from realtor commissions and legal fees to staging, inspections, mortgage discharge, and closing adjustments. While the average cost ranges around 5–6% of your sale price, these vary based on your property’s value, the services you choose, and how well you negotiate.
With careful planning and professional advice, you can reduce expenses and maximize your net proceeds. Always request detailed quotes and consider consulting both a real estate advisor and legal expert before finalizing decisions.
