excited about moving. But buyers will start second guessing. A casual statement about the house “really being too small for a growing family,” or “the schools are going through some changes” might be enough innocent chatter to squash their interest.
Underestimating Closing Costs
Many sellers only consider the money they are getting when they are selling their home (the purchase price). They don’t appropriately calculate all the costs associated with the sale and overlook the following items: • Legal Fees — amount depends on purchase price and lawyer (approximately $1,300. - $2,000.). • Realtor Commission — if you use an agency/real estate professional to sell your home • Other Taxes (GST,Flipping tax etc) • Land Transfer Tax — if there's any , varies according to province and depends on purchase price. • Adjustments/Prorated Costs for Annual Expenses — includes property taxes, condominium fees, and utilities • Other Fees — miscellaneous closing costs, etc.*
Forgetting to Cancel/Switch Utilities and Insurance
Many sellers overlook notifying utilities that they are moving or applying for utility service at their new home. Call the utilities and your insurance company as soon as a contract is signed. Find out how many days’ lead time they need to switch or cancel, then get back with them when you have a firm closing date.
Letting Emotions Take Over
Keep calm throughout the selling process, especially during and
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