Selling Your Home - Revision history

Elena Renderos: /* If you get an offer to purchase */

2020-10-07T04:31:39Z

If you get an offer to purchase

← Older revision		Revision as of 04:31, 7 October 2020
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	===If you get an offer to purchase===		===If you get an offer to purchase===
	~~{\| class="wikitable"~~
	~~\|align="left"\|~~
	"After our kids left for university, we decided to downsize. We got four offers on our home at the first open house. I had no idea there was so much to consider. Between the subject to clauses, the offer prices, the closing dates — it was dizzying. And that was before we even figured out the financing part of it."

	:'' - Jasmin, Surrey''		{{PLSStorybox
	\|}		\| image = [[File:Jasmin.jpeg\|link=]]
			\| text = “After our kids left for university, we decided to downsize. We got four offers on our home at the first open house. I had no idea there was so much to consider. Between the subject to clauses, the offer prices, the closing dates — it was dizzying. And that was before we even figured out the financing part of it."<br>
			- Jasmin, Surrey''
			}}

	If someone offers to buy your home, they will present an '''offer to purchase'''. This is a contract setting out the terms of the sale of your home. It is usually written on a standard form provided by the local real estate board. Once you and the buyer sign the offer, it is a binding contract of purchase and sale.		If someone offers to buy your home, they will present an '''offer to purchase'''. This is a contract setting out the terms of the sale of your home. It is usually written on a standard form provided by the local real estate board. Once you and the buyer sign the offer, it is a binding contract of purchase and sale.

Elena Renderos: /* The agent typically gets paid after the sale of your home */

2020-10-07T04:28:33Z

The agent typically gets paid after the sale of your home

← Older revision		Revision as of 04:28, 7 October 2020
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	A common approach is for an agent to charge 7% on the first $100,000 of the sale price, plus 2.5% on the rest. For example, if your home sells for $400,000, the commission under this approach would be $14,500:		A common approach is for an agent to charge 7% on the first $100,000 of the sale price, plus 2.5% on the rest. For example, if your home sells for $400,000, the commission under this approach would be $14,500:

	'''Portion of price Commission'''		'''Portion of price Commission'''<br>
	7% of $100,000 = $7,000<br>		7% of $100,000 = $7,000<br>
	2.5% of $300,000 = $7,500<br>		2.5% of $300,000 = $7,500<br>

Elena Renderos: /* The agent typically gets paid after the sale of your home */

2020-10-07T04:28:21Z

The agent typically gets paid after the sale of your home

← Older revision		Revision as of 04:28, 7 October 2020
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	A common approach is for an agent to charge 7% on the first $100,000 of the sale price, plus 2.5% on the rest. For example, if your home sells for $400,000, the commission under this approach would be $14,500:		A common approach is for an agent to charge 7% on the first $100,000 of the sale price, plus 2.5% on the rest. For example, if your home sells for $400,000, the commission under this approach would be $14,500:

	Portion of price Commission		'''Portion of price Commission'''
	7% of $100,000 = $7,000		7% of $100,000 = $7,000<br>
	2.5% of $300,000 = $7,500		2.5% of $300,000 = $7,500<br>
	Total commission = $14,500		''Total commission = $14,500<br>''
	As the seller, you pay this commission to your agent. Your agent then shares it with the buyer’s agent. The commission is typically deducted from the sale proceeds of the home at the time the sale is completed.		As the seller, you pay this commission to your agent. Your agent then shares it with the buyer’s agent. The commission is typically deducted from the sale proceeds of the home at the time the sale is completed.

Elena Renderos at 04:27, 7 October 2020

2020-10-07T04:27:11Z

Show changes

Elena Renderos: Elena Renderos moved page Selling Your Home (No. 405) to Selling Your Home: Removing recording numbers from page names

2020-09-12T04:00:20Z

Elena Renderos moved page Selling Your Home (No. 405) to Selling Your Home: Removing recording numbers from page names

← Older revision	Revision as of 04:00, 12 September 2020
(No difference)

Drew Jackson at 22:49, 29 March 2019

2019-03-29T22:49:55Z

← Older revision		Revision as of 22:49, 29 March 2019
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	{{REVIEWEDPLS \| reviewer = [https://www.ganapathico.com/our-team/nathan-ganapathi/ Nathan Ganapathi] and [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Ganapathi Law Group\|date= October 2017}} {{Dial-A-Law TOC\|expanded = home}}		{{REVIEWEDPLS \| reviewer = [https://www.ganapathico.com/our-team/nathan-ganapathi/ Nathan Ganapathi] and [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Ganapathi Law Group\|date= October 2017}} {{Dial-A-Law TOC\|expanded = home}}
	Selling a home is the biggest financial decision most people make. Learn what to consider before putting up the “For Sale” sign, and the steps involved in selling your home.		'''Selling a home''' is the biggest financial decision most people make. Learn what to consider before putting up the “For Sale” sign, and the steps involved in selling your home.

	==Key things to consider==		==Key things to consider==
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	:Web: [https://www.recbc.ca/sellinghome.html recbc.ca]		:Web: [https://www.recbc.ca/sellinghome.html recbc.ca]


	~~----~~
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	{{Dial-A-Law_Navbox\|type=life}}		{{Dial-A-Law_Navbox\|type=life}}
	{{Dial-A-Law Copyright}}		{{Dial-A-Law Copyright}}

Elena Renderos at 07:31, 28 March 2019

2019-03-28T07:31:08Z

← Older revision		Revision as of 07:31, 28 March 2019
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	{{~~Dial~~-A-Law ~~Blurb~~}}		{{REVIEWEDPLS \| reviewer = [https://www.ganapathico.com/our-team/nathan-ganapathi/ Nathan Ganapathi] and [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Ganapathi Law Group\|date= October 2017}} {{Dial-A-Law TOC\|expanded = home}}

	{{Dial-A-Law TOC\|expanded = ~~housing~~}}
	Selling a home is the biggest financial decision most people make. Learn what to consider before putting up the “For Sale” sign, and the steps involved in selling your home.		Selling a home is the biggest financial decision most people make. Learn what to consider before putting up the “For Sale” sign, and the steps involved in selling your home.

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	To find out if your mortgage can be assumed or includes a prepayment penalty, check your mortgage contract. Or check with your lender.		To find out if your mortgage can be assumed or includes a prepayment penalty, check your mortgage contract. Or check with your lender.

	For more on mortgages, see our information on [[Mortgages and Financing a ~~House~~ Purchase (~~Script~~ 408)\|mortgages and financing a home purchase (no. 408)]].		For more on mortgages, see our information on [[Mortgages and Financing a Home Purchase (No. 408)\|mortgages and financing a home purchase (no. 408)]].

	===If you get an offer to purchase===		===If you get an offer to purchase===
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	:Web: [https://www.recbc.ca/sellinghome.html recbc.ca]		:Web: [https://www.recbc.ca/sellinghome.html recbc.ca]



	~~[updated October 2017]~~

	'''The above was last reviewed for legal accuracy by [https://www.ganapathico.com/our-team/nathan-ganapathi/ Nathan Ganapathi] and [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Ganapathi Law Group.'''

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			{{Dial-A-Law_Navbox\|type=life}}
	{{Dial-A-Law Copyright}}		{{Dial-A-Law Copyright}}

	~~{{Dial-A-Law_Navbox\|type=housing}}~~

Drew Jackson: Drew Jackson moved page Selling Your House (Script 405) to Selling Your Home (No. 405): align with new Dial-A-Law website

2019-03-22T00:48:26Z

Drew Jackson moved page Selling Your House (Script 405) to Selling Your Home (No. 405): align with new Dial-A-Law website

← Older revision	Revision as of 00:48, 22 March 2019
(No difference)

Dial-A-Law: /* Do I have to pay capital gains tax? */

2019-02-17T04:52:14Z

Do I have to pay capital gains tax?

← Older revision		Revision as of 04:52, 17 February 2019
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	If your home is your principal residence, you don’t have to pay tax on any profit ('''capital gain''') you make when you sell it. This is called the principal residence tax exemption on capital gains.		If your home is your principal residence, you don’t have to pay tax on any profit ('''capital gain''') you make when you sell it. This is called the principal residence tax exemption on capital gains.

	If at any time during the period you owned the home, it was not your principal residence, you might not be able to benefit from this tax exemption. A lawyer can advise on whether the principal residence tax exemption applies to you.		If at any time during the period you owned the home, it was ''not'' your principal residence, you might not be able to benefit from this tax exemption. A lawyer can advise on whether the principal residence tax exemption applies to you.

	==Get help==		==Get help==

Dial-A-Law: /* =Step 5. Consider any offer to purchase */

2019-02-17T04:51:00Z

=Step 5. Consider any offer to purchase

← Older revision		Revision as of 04:51, 17 February 2019
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	The agent will provide you with a copy of the agreement. Keep it for future reference.		The agent will provide you with a copy of the agreement. Keep it for future reference.

	===Step 5. Consider any offer to purchase==		===Step 5. Consider any offer to purchase===
	If you get an offer to purchase, review it carefully. Be sure you understand the effect of any “subject to” clauses (explained above).		If you get an offer to purchase, review it carefully. Be sure you understand the effect of any “subject to” clauses (explained above).