Sellers sometimes focus entirely on sale price without accounting for the costs of selling. Understanding your net proceeds - what you actually walk away with after all costs - is essential for financial planning.
Real estate commission is the largest selling cost. In BC, commission is negotiable and varies by agent and brokerage. Understand what you're paying and what you're getting for it - a discounted commission can cost more than it saves if your home underperforms in marketing and negotiation.
Legal fees for sellers are typically $1,000-$1,500. Your lawyer handles the transfer of title, discharges any existing mortgage, and disburses proceeds.
Mortgage discharge fees may apply if you have a mortgage with a prepayment penalty. Check your mortgage terms - breaking a fixed-rate mortgage before its term ends can be costly.
Moving costs are variable but should be budgeted at $2,000-$8,000 depending on distance and volume.
Property tax adjustments are calculated at closing - you pay your share of the year's property taxes up to the closing date, and the buyer takes over from there.
Staging or pre-listing repairs, if you invest in them, should also factor into your net calculation - though these typically return more than they cost in sale price.
The Kamloops Home Team provides sellers with a clear net proceeds estimate before listing so there are no surprises at closing. Get in touch for a free seller consultation.
Looking to make a move in 2026? Planning is key - don't do it alone.
Contact the Kamloops Home Team for a FREE consultation and market evaluation. Let's get you moving.
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Kamloops Home Team | Scott McDowell, Kamloops Realtor 2024 & 2025 Top Royal LePage Team | 24 years combined local experience Whether you're buying or selling, you deserve one of Kamloops' best real estate teams in your corner. Contact us today.
