All You Need to Know About Closing Costs for Home Sellers in Langley

Selling your home in Langley is an exciting milestone—but it comes with expenses that can easily catch you off guard. Picture this: you're at the notary’s office, ready to collect your profits, only to discover that thousands of dollars are being deducted from your proceeds. Those are closing costs, and if you’re not prepared for them, they can take a sizable bite out of your earnings.

In this post, we’ll break down the most common closing costs that home sellers in Langley typically face, explain why they exist, and show you how to keep more of your profit when you sell.

What Are Closing Costs?

Closing costs are the final expenses you’re responsible for in order to complete the sale of your home. These include things like real estate commissions, legal fees, mortgage discharge costs, and adjustments for property taxes and utilities.

In British Columbia, closing costs for sellers generally range from 4% to 7% of your home’s sale price.

Understanding these costs in advance can help you budget accurately and avoid any last-minute surprises at the closing table.

The Most Common Closing Costs for Home Sellers in Langley

1. Real Estate Agent Commissions

In Canada, real estate commissions are negotiable and typically range from 3% to 7% of a property's sale price, varying by region and specific agreements between sellers and agents.

Example:

On a $900,000 home in Langley, your total commission could be around $29,000 to $31,000, depending on your agreement.

2. Property Transfer Tax (PTT)

In British Columbia, the buyer typically pays the Property Transfer Tax, but it’s still worth understanding:

• Standard rate:1% on the first $200,000
• 2% on the portion between $200,000 and $2 million
• 3% on amounts over $2 million
• Who pays: Almost always the buyer, unless negotiated otherwise

If you're also buying a home in Langley or elsewhere in BC, this is something you’ll need to factor into your own purchase budget.

3. Legal Fees or Notary Fees

Sellers in Langley must hire a real estate lawyer or notary public to facilitate the sale.

• What they do:Review the contract
• Prepare closing documents
• Discharge your mortgage
• Transfer the title to the buyer
• Typical cost: Between $1,000 and $1,500 in the Langley area

4. Mortgage Discharge Fees

If you still owe on your mortgage, you’ll need to formally discharge it.

• Legal discharge fees: Usually $300 to $400
• Prepayment penalties: If you break your mortgage early, your lender may charge a penalty—this could be thousands of dollars, depending on your interest rate and time remaining in the term

Speak with your lender early to estimate these costs.

5. Property Tax and Utility Adjustments

You’re responsible for your share of property taxes, utilities, and strata fees (if applicable) up to the possession date.

• How it works: These are prorated. For instance, if you sell halfway through the year and annual property taxes are $4,000, you’d owe $2,000.

Your lawyer or notary will calculate and finalize these adjustments.

6. Strata Fees (if applicable)

If your Langley property is part of a strata, like a townhouse or condo, here’s what to expect:

• Outstanding fees: Any unpaid strata dues must be settled before closing
• Form B (Information Certificate): Usually requested by the buyer’s lawyer and can cost $50–$75
• Move-out or document fees: Some strata corporations in Langley charge extra fees during the closing process

7. Moving Costs and Pre-Sale Expenses

While technically outside closing costs, it’s easy to forget about:

• Movers or truck rentals
• Storage or temporary accommodations
• Final repairs or home staging

Depending on your home’s condition and how far you’re moving, these can cost anywhere from a few hundred to several thousand dollars.

How to Reduce Your Closing Costs in Langley

Closing costs can take a sizable chunk out of your home sale profits, but the good news is that there are ways to cut back on these expenses. Whether through negotiation, strategic choices, or finding cost-effective service providers, you have options to keep more money in your pocket. Here are some practical ways to lower your closing costs as a seller.

Sell Without an Agent (FSBO) — this means no listing agent commission. However, you’ll still need to:

• Pay the buyer’s agent commission (usually 2.5% to 3%).
• Handle marketing, negotiations, and paperwork yourself.

FSBO works best if you have experience in real estate or a buyer already lined up.

Ask the Buyer to Cover Some Costs

• In some deals, buyers agree to cover certain closing costs instead of negotiating a lower sale price.
• This works best in a seller’s market, where buyers compete for homes.

Shop Around for Service Providers

• Get multiple quotes for title insurance, escrow services, and attorneys.
• Some companies offer discounts for bundled services.

Preparing for Closing

As you approach the finish line of your home sale, there are still a few final steps to take before closing day. Proper preparation can help avoid last-minute surprises and ensure everything goes smoothly. Here’s what you need to do before handing over the keys.

1. Review the Closing Disclosure Early

• You’ll get a Closing Disclosure a few days before closing that lists all costs.
• Review it carefully to catch any unexpected charges.

2. Finalize Repairs and Paperwork

• Complete any agreed-upon repairs before closing.

Make sure liens, HOA fees, and taxes are paid to avoid delays.

Final Thoughts

Selling a home in Langley is more than just putting up a "For Sale" sign. Closing costs can add up quickly, but when you understand them in advance, you can plan strategically, avoid surprises, and walk away with more of your hard-earned equity.

If you’re thinking about selling and want a clear estimate of your net proceeds, speak with a local Langley real estate professional who can guide you every step of the way.