when buying:
- Realtor do not collect commission from the buyer -- it comes out from the seller. But sometimes the realtor may charge the buyer a small fee for the doc fees that they incur from lien and land title searches.
- I think it is anywhere between $300 to $1k+ for legal fees, depending on the complexity of the deal, and whether you're having a notary or lawyer to process your paperwork.
when selling:
- Different realtors charge different rates. The ones I've come across seem to charge 6 - 7% on the first $100k, and 2 - 3% on the remainder amount. Esp on the remainder amount, that's where the meat is, and you see larger variances on it.
- legal fees is similar to buying, but the notrary / lawyer will already be taking his cut from the money you receive.
- the property transfer tax is:
The property transfer tax rate is:
- 1% on the first $200,000,
- 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,
-3% on the portion of the fair market value greater than $2,000,000, and
- If the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).
https://www2.gov.bc.ca/gov/content/t...y-transfer-tax
Inspection costs varies dramatically, depending on the size of the property. I think it can probably be done for $200-ish for a small apartment, to $600+ for regular sized detached home?