Discussions

I own a house in Brandon I am thinking of selling. What is the process or approximate costs involved? I don’t know what to expect so was wondering what other people’s experiences were.

Do you want to sell privately or with a realtor?  
If selling privately, just list it and start showing it. Get a lawyer, they will do all paperwork with you if and when you get an offer.  
If selling with a realtor, choose a realtor and they will basically walk you through the process and do the rest. Again, make sure you have a lawyer to do the legal stuff and you are all set.  
If you want to purchase again make sure you have pre-approval from a bank so that you aren’t just guessing at what you can afford to purchase.  
It’s really not all that difficult. I find the most annoying part getting out for all the showings and open houses. Lol! The rest is pretty simple.  
 
Cost depends on which realtor you use. Between 3-5% generally. And count on a few thousand for lawyer, land transfer, etc. That will be dependent on cost of next purchase.  
 
Edited by Jellybean, 2020-01-28 09:03:42

You'll want to check with your mortgage broker too. Find out how much they'll charge you to get out of your mortgage early.

Definitely a realtor. It’s my first house so don’t care to try and sell on my own.  
 
For costs, can those be paid out of what you receive for the house or is it separate?

Should be a percentage of the sale price. I think they usually charge around 5%.

Do you know how much this is approx? Or for what length of time it applies for? Or is it any length of time remaining in the x number of years your mortgage was for?

I think it depends on your interest term that you've locked yourself in at. Like how long is left on that term and the interest rate itself. I bank and have my mortgage through RBC and when I was thinking about selling my home last year I found a calculator on their website, but your best bet is to talk to whoever your mortgage is through so they can give you an accurate number.

Maybe I'm crazy but why not contact a realtor and your financial institution and ask all these questions rather than a bunch of anonymous strangers on eBrandon who may or may not give you accurate info? A realtor isn't going to charge you to answer your questions, they are hungry for business. Your bank will also not charge you to answer your question and you will know exactly what the fees etc. are going to be.  
 
I know you don't want to sell privately as it's your first time but you will save a lot of money and really it's not hard, your lawyer does a lot of the work for you anyway.  
 
Anyways good luck and don't be afraid to turn down realtors of you don't feel they are a good fit or working for you. Also make sure of the documents and exactly what you are signing. Ask questions if you don't understand.  
 
Edited by Jackson67, 2020-01-28 09:53:49

Contact a realtor (or a few, meet with them and see who you like). We bought/sold about 2 years ago, and our realtor answered all our questions. I think they would be most knowledgeable advice for your questions.  
 
Also gave a walk-thru of our house, told us what we should fix up or move around etc to show it best. Gave us an idea of the pricing and the costs involved.