Question for realtors

[tiger_handheld]

what are all the costs when buying and selling a home?
assume property is 750k


buying:
- legal fees
- land transfer tax
- inspection


selling:
- realtor commissions
- legal fees


anything else?

[lowside67]

Is this a real thread?

How about googling "costs to buy and sell a house in BC"

Every bank and every mortgage brokerage is going to have a page with this info.

Do you want us to wipe your ass as well? Lazy.

-Mark

[Traum]

when buying:

- Realtor do not collect commission from the buyer -- it comes out from the seller. But sometimes the realtor may charge the buyer a small fee for the doc fees that they incur from lien and land title searches.

- I think it is anywhere between $300 to $1k+ for legal fees, depending on the complexity of the deal, and whether you're having a notary or lawyer to process your paperwork.


when selling:

- Different realtors charge different rates. The ones I've come across seem to charge 6 - 7% on the first $100k, and 2 - 3% on the remainder amount. Esp on the remainder amount, that's where the meat is, and you see larger variances on it.

- legal fees is similar to buying, but the notrary / lawyer will already be taking his cut from the money you receive.

- the property transfer tax is:

The property transfer tax rate is:

- 1% on the first $200,000,
- 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,
-3% on the portion of the fair market value greater than $2,000,000, and
- If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).

https://www2.gov.bc.ca/gov/content/t...y-transfer-tax

Inspection costs varies dramatically, depending on the size of the property. I think it can probably be done for $200-ish for a small apartment, to $600+ for regular sized detached home?

[tiger_handheld]

Originally Posted by Traum

when buying:

- Realtor do not collect commission from the buyer -- it comes out from the seller. But sometimes the realtor may charge the buyer a small fee for the doc fees that they incur from lien and land title searches.

- I think it is anywhere between $300 to $1k+ for legal fees, depending on the complexity of the deal, and whether you're having a notary or lawyer to process your paperwork.


when selling:

- Different realtors charge different rates. The ones I've come across seem to charge 6 - 7% on the first $100k, and 2 - 3% on the remainder amount. Esp on the remainder amount, that's where the meat is, and you see larger variances on it.

- legal fees is similar to buying, but the notrary / lawyer will already be taking his cut from the money you receive.

- the property transfer tax is:

The property transfer tax rate is:

- 1% on the first $200,000,
- 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,
-3% on the portion of the fair market value greater than $2,000,000, and
- If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).

https://www2.gov.bc.ca/gov/content/t...y-transfer-tax

Inspection costs varies dramatically, depending on the size of the property. I think it can probably be done for $200-ish for a small apartment, to $600+ for regular sized detached home?

Thanks for this! I had a hard time finding realtor rates (some just give a flat rate like estimate 20k)

[6793026]

in this market??
Fuck, if you look hard enough, 1 phone call and you get to get a flat rate way way way below 20k.... fuck if a realtor can make 20k commission nowadays...

[GLOW]

if necessary (not always applicable) any further due diligence items outside of a home inspector, such as scanning property for oil tanks (if believe risk).