Joel DyckReal Broker SK Ltd.
Saskatoon · Target questions

What are the closing costs when selling a home in Saskatoon?

Seller closing costs in Saskatoon are commission, legal fees, a mortgage discharge fee if you have one, and property tax adjustments. Saskatchewan charges no land transfer tax on the seller side, and the ISC title transfer fee is paid by the buyer. Expect 4 to 6 percent of the sale price.

Real estate commission in Saskatchewan is negotiable, not fixed by law. The standard practice is that the seller pays the commission for both their listing agent and the buyer's agent, and this is negotiated at the listing stage. Legal fees for a seller typically run between $800 and $1,500 depending on the complexity of the transaction.

If you have a mortgage, your lawyer will handle the discharge, and some lenders charge a discharge fee of $200 to $400. Property taxes are prorated, so if you have prepaid taxes for the year you get a credit at closing, and if you owe taxes they are deducted from your proceeds.

The number that matters most is your net proceeds, which is the sale price minus all closing costs. Joel Dyck provides a net sheet before listing so you know exactly what you walk away with, not just the top-line sale price.

Get your hand-reviewed valuation from Joel Dyck.

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