Although selling generates a significant amount of money, it's important to know that selling your property involves costs. Your Proprio Direct broker can help you find the best way to reduce the impact of these costs.

Reduce costs

Whether it's through their network or their knowledge of real estate finance, your real estate broker is a valuable ally when selling your property. They are familiar with various strategies to minimize the costs associated with the sale and will help you benefit from them.

Mortgage management

The first costs to consider relate to the repayment of your mortgage before its maturity. When planning to sell, there are three options to properly manage the payment of this loan.

Repay the mortgage

The first option is to repay the entire balance. If you have selected an 'open' loan, the repayment can be made at any time, without penalty. If you have a 'closed' mortgage, a penalty applies. Regardless of the type of loan, you may also have to pay discharge fees at your notary's office.

Transfer the mortgage (no fees)

If you're selling to buy again, it's possible to transfer your 'transferable' mortgage to this new address. This transfer is done without penalty. This is an advantage if the interest rate applied to your mortgage is lower than current rates.

Transfer the mortgage to the buyer (no fees)

The third option is to offer the buyer to take over your mortgage. This option can also serve as a selling point if the interest rate on your mortgage is lower than current rates.

Related costs

You should also budget for expenses related to professional services for inspection, appraisal, and surveying. However, your real estate broker will coordinate the work of these professionals and leverage their network of qualified contacts for your benefit.

With Proprio Direct, there are no deposits or upfront fees payable. Payment is only made upon the sale of your property. And if the seller finds the buyer, they benefit from a reduced commission rate.