Thinking about selling your home in BC? Whether you’re moving up, downsizing, or cashing in on your equity, it’s important to understand the true costs of selling a property — so there are no surprises when you close.
From realtor commissions to legal fees, mortgage penalties, and getting your home ready, here’s what to budget for.
💼 Realtor Commission Fees (7 & 3)
In the Fraser Valley and most of BC, real estate commissions are commonly structured as:
7% on the first $100,000, plus
3% on the balance of the sale price
So, on an $800,000 home, your commission would roughly be:
🔍 Where Does This Money Go?
A portion pays the buyer’s agent, which incentivizes them to bring qualified buyers to your property.
The remaining portion goes to your listing agent, covering not just their expertise, but also:
✅ Professional marketing costs:
Photography, video tours, drone, floorplans
Targeted online ads (Facebook, Instagram, Google)
Print brochures, signage, open houses
✅ Negotiation & transaction management:
Pricing strategy, reviewing offers, handling multiple offers
Coordinating showings, vetting buyers, managing paperwork to ensure a smooth close
This investment means your home is seen by more buyers and attracts stronger offers — ultimately netting you more.
📝 Legal Fees & Conveyancing
When you sell, you’ll need a lawyer or notary to:
Prepare documents to transfer the title
Pay out your existing mortgage
Ensure funds are properly distributed
This typically costs $800 – $1,500, depending on the complexity of your sale.
🏦 Mortgage Discharge or Penalties
If you’re breaking a fixed mortgage before the term ends, your lender may charge a prepayment penalty. This can be:
A few thousand dollars, or
Tens of thousands — depending on how much time remains, your rate type (fixed vs variable), and your lender’s formula (many use an Interest Rate Differential for fixed).
Before you list, it’s wise to call your lender and request a payout statement so you know exactly what to expect.
🧽 Preparing Your Home for Sale
Most sellers spend a little upfront to help their home sell faster and for more. Typical costs include:
These improvements can dramatically impact first impressions and final sale price.
📑 Other Costs
✅ Strata Documents:
If you’re selling a condo or townhouse, your strata corporation will charge for documents (bylaws, minutes, Form B), usually $100 – $400.
✅ Property Taxes & Utilities:
You pay up to the possession date. Any overpayments or underpayments get adjusted by your lawyer on closing.
✅ GST:
Most resale homes are GST exempt. GST generally only applies on new homes purchased from a developer.
💡 Bottom Line: Budget 6-8% of Your Sale Price
For most homeowners in BC, the total costs to sell (including commission, legal, and typical prep) look like this:
So on an $800,000 home, you might see total costs of $50,000 – $65,000, depending on your mortgage and how much you invest in prep.
⭐ Want to See Your Exact Net?
At Collab Realty Group, we make sure you’re 100% clear on what your net proceeds will look like before you even list — so you can confidently plan your next move.
📲 Get a free home value & detailed net sheet today.