Selling a Home: Legal Costs
July 23rd, 2014 by SNJ
Fees
Lawyers fees with respect to the sale of a typical home are usually less than half a percent of the sale price, and sometimes less than a quarter of a percent of the sale price. At Smith Neufeld Jodoin LLP, our lawyers typically adhere to general policies regarding fees which are based upon the sale price of the property and upon the complexity of the transaction. Please do not hesitate to call any of the real estate lawyers in our firm for a fee quote with respect to selling your home.
Disbursements
In addition to the fees, most law offices will also require reimbursement of their out-of-pocket expenses incurred in the completion of the sale of your home. These out-of-pocket expenses include such items as courier charges, land titles searches, necessary discharges, photocopying, fax charges, long-distance charges, etc. These costs incurred by a seller are usually much less than the costs incurred by a buyer. For simple transactions, the disbursement costs are often less than $200.00.
It should be noted that GST and PST are payable on all legal fees. GST is payable on real estate commission and some of the disbursements incurred as a result of the sale of a home.
Notice: The articles on our website are provided for general information purposes only and should not be relied upon as legal advice or opinion. They reflect the current state of the law as at the date of posting on the website, and are subject to change without notice. If you require legal advice or opinion, we would be pleased to provide you with our assistance on any of the issues raised in these articles.
