FAQ - Lilford Taylor Team

How much will it cost to sell my house?

When you’re budgeting for the cost of selling your home, there’s a few things to take into consideration. If you decide on staging and preparing your house for the market, the staging cost is definitely something to keep in mind. Things such as real estate commission, legal fees and potentially, a mortgage penalty are key considerations.

How much will it cost to stage my house?

Staging costs can vary depending on the size of the home as well as the labour required, how many accessories and the type of furniture needed. Generally speaking, it can range from a few hundred to thousands of dollars. The Lilford Team, has an inventory of staging items that we can provide our clients with, greatly reducing the cost of staging. Effectively preparing your home can make a significant difference to the sold price. You should always consult your agents about what it might be worth spending money and time on before you begin the process.

Generally, we believe in getting pre-listing home inspections for Toronto houses. Knowing the potential issues with your house before it goes up for sale will give you time to remedy them, or alternatively, price them into your asking price. It will also encourage multiple offers in a hot market. We wrote a blog about Pre-Listing home inspections too.

Do open houses work?

Statistically speaking, open houses account for 4 per cent of home sales. As a seller, you want to make it extremely easy for buyer to see your home. Having an open house is the least intimidating way to make the home buying process easy for your buyers. You’ll definitely have a few nosy neighbours come by your house, but a good agent will be able to concentrate their sales efforts on the real potential buyers. The Lilford Team recommends a well-advertised public open house on the first weekend of the sale. Condo open houses are a little different and less popular due to the similarities between condo units. A lot of condominiums do not allow open houses for security reasons.

Who pays Toronto and Ontario land transfer taxes?

The buyer pays both land transfer taxes.

How much are legal fees to buy a house in Toronto?

Legal fees vary by lawyer, but a house under $500,000 will generally cost about $1,800 in legal fees in Toronto.

Should I sell before buying?

That all depends on your personal goals and how hot the real estate market is. If you are buying an in-demand property and selling a less desirable one, you’ll likely want to sell before buying.