Question 1

What realtor commission percentage is typical in Newfoundland?

Accepted Answer

Realtor commissions in NL are negotiable but typically range from 4% to 5% of the sale price, split between the listing agent and the buyer's agent. Some brokerages offer alternative fee structures — ask Felix for details.

Question 2

Are there taxes on the sale of my home in Canada?

Accepted Answer

If the property is your principal residence, the sale is generally exempt from capital gains tax in Canada. If you have rented it out or it is an investment property, a portion of the gain may be taxable. Consult a tax professional for your specific situation.

Question 3

What can I do if my net proceeds estimate is negative?

Accepted Answer

A negative result typically means your mortgage balance and selling costs exceed your expected sale price. Options include pricing the home higher, reducing prep costs, negotiating realtor fees, or waiting for property value to appreciate before listing.

Question 4

How do legal fees work when selling a home?

Accepted Answer

As a seller, you need a real estate lawyer to handle the discharge of your mortgage, transfer of title, and distribution of proceeds. In NL, seller legal fees typically range from $1,500 to $2,500 depending on the complexity of the transaction.

Seller Net Proceeds Estimator

How This Is Calculated

Seller Net Proceeds Estimator

How This Is Calculated