SELLERS CLOSING COSTS
When selling a condo in Nova Scotia you will have a few closing costs to consider.
Lawyers Fees and Disbursements
Legal fees will vary depending on the lawyer. It is a good idea to shop around. The average cost is about $800-$1000. This is not including disbursements which could be anywhere from $200-$400. Disbursements include, courier fees, photo copying, title search, registration costs etc..
An estoppel certificate is an important document issued by the condominium corporation intended to give potential purchasers of a condominium unit information so that they can make an educated decision about their purchase. The certificate provides information about the specific condo unit and the condominium corporation.
-- The buyer will request this either up front or prior to closing. The cost is between $300 - $400 depending on the property management company.
Real Estate Commission
The stanbdad Real Estate Commission in Nova Scotia is 5%. Typically split between a buyers agent, 2.5%, and a listing agent 2,5%. Please note. The commission is plus HST.