SELLER’S CLOSING COSTS

The following are generally the costs a Seller is responsible for at the time of completion:

• The commission you agreed to pay your brokerage;
• The legal fees to discharge any existing mortgage whether or not you engage your own lawyer;
• The GST on the real estate commission and on your legal fees;
• Any prepayment penalty levied by the financial institution for early pay-out of an existing mortgage; and
• Your share of the property taxes for the year if the current year’s taxes have not yet been paid, plus any penalties due for late payment of unpaid taxes.

Source: BC Financial Services Authority