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When is the real estate commission paid?
In Ontario, the real estate commission is typically paid upon the successful completion of the real estate transaction, commonly known as the closing.
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The payment is made from the proceeds of the sale before the seller receives their net proceeds. This means that the commission amount is deducted from the final sale price of the property, and the remaining funds are then disbursed to the seller.
It's important to note that the specific payment details, including any agreed-upon terms or conditions, should be outlined in the listing agreement or contract between the seller and their real estate agent or brokerage.
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