Closing costs and expenses in Calgary Alberta
What do you have to pay?
Closing costs are separated into two parts; the buyer and the seller. The seller pays the commission, but the commission is not considered a closing cost. A closing cost includes the legal fees and disbursements from the lawyer, his base fee plus disbursements, courier cost and so on. There will also be tax adjustments.
In Calgary, property taxes are due June 30th, every year. When you pay on June 30th, you’ve actually paid for the past six months and for the next six months. Therefore, if you sell your home during the first six months of the year, and then the closing is on say, May 30th, you, as the seller, actually owe the new buyer 5 months’…