Fees for selling a home

[joeags]

My wife and I own a house, and are getting it ready for sale. We're looking at houses, and what we buy will depend largely on the take-home amount on the current house. We have a baby and don't have the time or energy to take on any type of private sale, so we'll be going through a realtor. I know that we'll have to pay the seller's commission, but are there other fees that we will be responsible for? We live in the Hamilton, Ontario area, and would appreciate any insight anybody has.

[deep]

Too bad you can't manage a private sale - it is my new favorite money saving, stress busting, happiness inducing thing. :)

Other than the commission to the realtor, all of your fees will basically come through your lawyer. They should approve the offer letter before you sign it (even if it's prepared by your very own agent....you'd be surprised how many agent prepared letters are not in your best interest or just plain wrong) and they will need to do a few things in concert with your buyer's lawyer in order to transfer the property. For my own sale, it has been just a few hundred dollars in disbursements from my lawyer, but you could be looking at more.

[notanexpert]

My parents just sold their house and they paid $700 in legal fees on top of 4% commission.