Seller Guide

Closing & Selling Costs in Brantford

Once your sale is firm, the finish line is in sight. Closing is mostly handled behind the scenes by your lawyer, but it helps to know what happens and what it costs, so your net proceeds are never a surprise.

From firm sale to closing day

Between a firm sale and closing, your real estate lawyer does the heavy lifting: confirming the paperwork, working with the buyer’s lawyer, arranging to discharge your existing mortgage, and calculating adjustments. You sign your closing documents, and on closing day the funds are exchanged, ownership transfers, and you hand over the keys.

What it costs to sell

Most of your sale price is yours to keep, but a few costs come off the top. Plan for:

• Real estate commission: usually the largest cost, a percentage of the sale price (plus HST), agreed with your brokerage upfront and typically shared with the buyer’s brokerage
• Legal fees and disbursements: your lawyer’s charge for handling the sale and paperwork
• Mortgage discharge: paying off your remaining mortgage from the proceeds, plus any prepayment penalty if you break a fixed term early
• Adjustments: settling prepaid property taxes or utilities with the buyer as of the closing date
• Moving costs: along with any final cleaning or minor repairs you agreed to

One cost you will not pay: land transfer tax. In Ontario that is the buyer’s expense, not the seller’s.

What about capital gains?

If the home is your principal residence, your sale is generally exempt from capital gains tax. If you are selling an investment or secondary property, capital gains may apply to your profit.

Tax rules depend on your circumstances and change over time, so this is general information, not tax advice. We are happy to point you to a trusted local accountant who can confirm exactly where you stand.

Estimating your net proceeds

Your net proceeds are simply your sale price minus your mortgage payout and selling costs. We walk you through a clear estimate before you list, so there are no surprises at the closing table. Curious where your number might land? It starts with your sale price, so it helps to see what homes like yours are selling for.

How The Munir Group helps at closing

The closing stage should feel calm, not chaotic. As experienced Brantford realtors, we keep it that way:

• A clear, upfront estimate of your costs and net proceeds
• Coordination with your lawyer so the paperwork stays on track
• An early heads-up on anything worth checking, like a mortgage penalty
• Guidance through adjustments, signing, and closing day
• A smooth handover so you can move on with confidence

Selling is a big move, and the numbers should be clear from the start. If you are thinking about selling, a free home evaluation is the first step toward knowing your price and your bottom line. And if you have an offer in hand, our guide to reviewing offers and negotiating covers the step just before this one.