Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What will I net after fees?

After fees, subtract two things from your sale price: total closing costs, which typically run 4 to 6 percent of the price and cover commission, legal fees and adjustments together, and whatever mortgage balance you still owe. What is left after both is your real net, not the number on the front page of the offer.

Per the Saskatchewan Real Estate Commission, which regulates how commission must be agreed to in writing but does not set a rate, that figure is negotiable between you and your brokerage rather than fixed. Adjustments at possession, for prepaid property tax or a condo fee already paid for the month, move a smaller amount either direction depending on your possession date.

A mortgage discharge, paying off what you still owe including any prepayment penalty your lender charges for paying early, usually costs more than every other fee combined for someone who bought or refinanced recently. For an owner who has held the mortgage for decades, that balance may be small or gone, which is the biggest reason two sellers at an identical sale price can net very different amounts.

Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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