The cost of selling a home in the Greater Toronto Area (GTA) can vary depending on several factors, including the type of property and any additional expenses associated with preparing the property.
When you sell with Bōde, the fee is 1% of the sale price and capped at $10K. You only pay if you successfully sell your home. So, you can deduct the cost of commissions on the sell side, as well as marketing and conveyancing fees when you work with us. This often equates to tens of thousands of dollars.
Here are some common costs to consider when selling a home in the GTA:
Home Staging and Repairs: Some sellers choose to invest in home staging or make minor repairs or improvements to make their property more appealing to potential buyers. The cost of staging and repairs can vary widely based on the scope of work.
Home Inspection and Appraisal: Some buyers may request a home inspection or appraisal, and in some cases, sellers may opt to have these done before listing the property. These costs can range from a few hundred to a few thousand dollars.
Land Transfer Tax and Other Fees: In Ontario, sellers are not directly responsible for the land transfer tax (LTT) when selling a property. However, it's essential to be aware of LTT implications because it can affect the negotiation process. Buyers are typically responsible for paying LTT, but negotiations can factor this cost into the deal.
Mortgage Discharge Fees: If you have an existing mortgage on the property, there may be fees associated with discharging or transferring the mortgage when the property is sold. These fees can vary depending on your mortgage terms and lender.
Moving Costs: While not directly related to the sale process, you should also budget for moving costs when selling your home.
Keep in mind that market conditions and local regulations may change over time, so it's a good idea to seek the most up-to-date information when you're ready to sell your home in the GTA.
Use Bōde's up to date data tools help you navigate the market: