How Do Closing Costs Work When Selling a Sudbury Home? | Clear Realtor Explanation
How do closing costs work when selling a Sudbury home?
Closing costs include legal fees, mortgage payout fees, adjustments, and commissions. Sudbury realtor Tanya Vanden Berg helps sellers understand each cost so they know exactly what to expect on closing day.
The largest part of closing costs is often real estate commission, usually 4–6% of the sale price in Ontario. This fee covers marketing, negotiations, MLS® exposure, and full service throughout the selling process. Tanya clearly outlines how commission works so sellers know the value they’re receiving.
Next are legal fees, which range from $1,000–$1,500 in Sudbury. Your lawyer handles the title transfer, mortgage discharge, closing documents, and communication with the buyer’s lawyer.
You may also have adjustments. These are prorated amounts for property taxes, utilities, or condo fees you’ve already paid. For example, if you prepaid taxes for the year, the buyer reimburses you for the months after closing.
If you have a mortgage, your payout statement may include penalties for breaking your term early. Tanya encourages sellers to request this statement before listing so there are no surprises at closing.
Other possible costs include moving expenses and optional pre-sale updates like staging or cleaning. While not mandatory, these often help Sudbury homes sell faster and at higher prices.
