What would you walk away with?

Common questions

What does it cost to sell a home in Ontario?

The main costs are the real estate commission plus 13% HST on it, paying off what is left of your mortgage, any prepayment penalty your lender charges, your lawyer's fee for the sale, and the discharge and registration fees. Staging, storage and moving are on top.

What commission will I pay?

Commission is negotiable in Ontario and there is no standard rate. It is agreed with your brokerage and written into the listing agreement, usually as a share for the listing brokerage and a share for the brokerage that brings the buyer. Ask Pritpal what he would charge for your home.

Is there HST on the commission?

Yes. HST at 13% applies to the commission, though not to the sale price of a resale home itself.

Will I owe tax on the sale?

If the home was your principal residence for the whole time you owned it, the gain is usually exempt. Investment and secondary properties are different, and so are homes you only lived in part of the time. This calculator does not work out capital gains — speak to a tax advisor.