SELLERS FAQS

FIND THE ANSWERS YOU’RE SEEKING

  • Easy! Visit the Market Update page or get in touch and we can go for a coffee. We’d love to bring you up to speed on the market.

  • When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption. This is the case if the property was solely your principal residence for every year you owned it.

    The exception to this is if you own the property for less than 12 months. The Residential Property Flipping Rule states that if you sell your property in under 365 days from acquiring it, 100% of your capital gains will be taxed as business income.

    Exemptions include death/divorce.

  • While the market is slow, it is still a good time to sell as long as you take into account these factors:

    • While the prices have decreased slightly over the past year, they had massive near 30% gains the previous year. So you’re still selling at a highly inflated value considering all factors.

    • Your property should sell as long as you are not overpricing and it is presented with its best foot forward.

  • The Buyer pays for their side of things, but the Seller will still pay for commissions (+GST), Lawyer fees, mortgage discharge fees and miscellaneous other fees.

  • To avoid the Property Flipping Rule, you must live in the home for 12 months.

  • The prices have been slightly dropping month to month. This will likely continue as the inventory rises and sales continue to be slow.

  • Selling between Christmas and just through January is notoriously slow. As is the late summer when families are trying to get in vacations before school starts.

  • When you sell your home or when you are considered to have sold it, usually you do not have to pay tax on any gain from the sale because of the principal residence exemption. This is the case if the property was solely your principal residence for every year you owned it. If you are unsure, please contact your accountant.

  • Yes, you will require a lawyer or notary to help you complete the appropriate documents to convey your property.

    Need recommendations? Just ask!

  • By and large, the greatest benefit to selling a property through a REALTOR® is that your property will be listed on the MLS. The vast majority of Buyers are working with agents who have them searching solely MLS listings. That means your property is getting in front of the maximum amount of people who are looking to buy a home.

    FSBO properties also tend to not offer commission to a Buyer’s agent. This tends to turn people off as it makes it a more difficult hurdle when it comes to negotiations.

    Buyers also tend to have a sense of security when they know the other side of the transaction is being handled by a professional.

    There are many other reasons but these are the basics. Despite paying REALTOR® commissions, you are very likely to end up with more money in your pocket by enlisting an agent you trust.

  • While everything is negotiable, it is typical for a Seller to pay both the commission for the Buyer’s agent and the Sellers agent.

  • The purchaser pays the Property Transfer Tax.

What Our Clients Have To Say

  • "We have been in the house for a month now and are very happy with our new abode.  Thank you for all of your guidance in steering me in the right direction and helping me make the best choice.You are an amazing real estate agent and I feel very fortunate that you helped us select our new home!"

    C & D

    ✩✩✩✩✩

  • "You are such a thoughtful and generous Real Estate Agent! Thank you for all the help with both the buying and selling process. I knew from your YouTube videos that you have a lot of integrity, but you really went above and beyond, especially managing the whole sale while we left the country."

    AF

    ✩✩✩✩✩

  • HAPPY BUYERS & SELLERS

    "We couldn't have been happier to choose you as our Realtor, Alice. Throughout the four properties we have purchased and sold with you, we have found the process simple and low-stress. We look forward to the next time we get to work together. Such an absolute pleasure to have you as our agent."

    W & T

    ✩✩✩✩✩

  • "Though Alice's professionalism and wonderful attidute, we ended up in a property that not only checked all our boxes but checked boxes we didn't know we had. I have recommened Alice and will continue to recommend her to friends, family and anyone buying a house. My thanks go out again."

    J & T

    ✩✩✩✩✩

  • “Alice was an incredible real estate agent, who really did go above and beyond. She made herself available and was open to showing us any property of interest, until we found a home that could work. As a selling agent, she made sure our home showed impeccably. Her communication skills were top notch. I would certainly be more than happy to work with her again and to recommend her to anyone buying or selling."

    D & K

  • "Tracey was amazing to work with when we started planning our move to Victoria. She was very knowledgeable and helpful, even offering to do virtual walk-throughs of properties since we couldn’t actually be there. We will definitely continue to work with her in the future, and we highly recommend her to everyone."

    J & B

  • Alice is the best. She helped my wife and I get our first house. She was patient with our questions, incredibly real, and down to earth. In addition to being an incredibly competent Realtor, Alice is an incredibly kind, thoughtful, and funny person. She makes a real effort to get to know and connect with her clients as people. I really cannot recommend her enough!

    A & J

  • "I definitely recommend Alice as a estate realtor! She was patient, attentive and just overall incredible. Did not push at all towards a sale, answered all our question and was very upfront with what she thought of a house. Her knowledge on local neighborhoods and negotiating was indispensable for our purchase."

    L & M

    ✩✩✩✩✩