Brokerage remuneration
The remuneration stated in the brokerage contract, plus 5% GST and 9.975% QST, is deducted from the sale proceeds by the notary.
SELLER’S GUIDE · MONTRÉAL
Prepare your sale, without surprises.
The main costs to anticipate and documents to gather for a smoother sale and closing.
Every transaction is different. Use this list to estimate what you may have left after the sale and identify missing documents early.
Mortgage penalty
Paying a mortgage before maturity can trigger a penalty, often based on three months’ interest or the interest-rate differential. Request a payout statement from your lender.
Mortgage discharge
The seller pays the verifications, disbursements and fees related to repaying and discharging existing charges. Depending on the file, plan for approximately $1,500 to $2,500 plus tax and confirm the amount with the notary.
Certificate of location
A new certificate may be required when the existing one no longer reflects the property. Depending on the lot and complexity, plan for approximately $1,500 to $2,500 plus tax and order it early.
Condominium charges
The syndicate or management company may charge to prepare information and documents. Depending on the building, fees may be around $300 to $650 plus tax.
Corrections and obligations
Title corrections, title insurance, agreed work or other commitments in the promise to purchase may create additional costs.
Release of funds
Net proceeds are normally released only after the transfer of ownership is registered in the Land Register.
Non-resident seller
Federal and Québec tax withholding and compliance certificates may apply. Early planning with the notary and a tax professional is essential.
Documents to prepare
- Current certificate of location
- Municipal and school tax bills
- Energy bills or statements
- Deed of sale and prior titles
- Mortgage deed
- Mortgage balance and secured lines of credit
- Seller’s declaration
- Relevant insurance documents
- Leases and rental agreements, if applicable
- Invoices, warranties and permits for major work
- Declaration of co-ownership and bylaws, if applicable
- Proof of condo fees and special assessments
- Recent meeting minutes and financial statements
- Contingency-fund and self-insurance-fund information
Practical advice for sellers
Everything your broker does to sellSee the work happening behind the scenes, from the initial strategy through the notary.Prepare the propertyUseful steps before photography and showings.Set the right pricePosition the property for the real market.Compare offersConsider price, conditions and dates.After acceptanceTrack every condition through closing.
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