What works in your favor
- You can identify likely costs and budget before going to market.
- Some expenses can be negotiated or planned depending on the transaction.
- Correct pricing and presentation help protect your net result.
Short answer
Selling is not free. Typical items may include brokerage commission, stamps and filing fees for legal documents, cleaning or repairs, mortgage cancellation when applicable, current property taxes and, in some cases, marketing expenses. The total depends on the price, condition and legal or financial situation of the property.
Where risk appears
- Owners often underestimate costs and discover them late in the transaction.
- Repairs or title issues can surface close to closing.
- Liens, debts or outdated documents can add time and expense.
Common mistakes
- Estimating net proceeds without commission and legal expenses.
- Forgetting mortgage cancellation or other property-related debt.
- Marketing before the core documents are ready.
- Setting the price without calculating the likely net proceeds.