The commission is the percentage of money from the purchase price of the home paid to the Realtors representing both the buyer and the seller. This amount compensates Realtors for their services and is typically covered by the seller.
A lawyer is used to fulfill the legal requirements of transferring home ownership, carry out mortgage instructions, perform title searches and closing cost adjustments.
If your home is currently under mortgage with a lender, there can be penalties for switching lenders or exiting the contract early when selling your home. This usually comes in the form of a small penalty or discharge fee.
When selling your home, you are responsible for all of the utilities and property tax until the day of closing. Lawyers ensure that if you have not already paid your property taxes up to this date, the money is set aside from the profits to do so. If you have paid for utilities in advance, the money is rebated back to you, pro-rated to the day of close.
Our team of dedicated local realtors are here to make your real estate journey as simple and transparent as possible. We work to ensure you don't pay more than you need to — keeping more money in your pocket while finding you your dream home.Contact us