What it costs to sell a house in Ontario
- Real estate commission. Negotiable, and set out in your listing agreement, including anything offered to a buyer's brokerage. HST at 13% applies to it.
- Legal fees. Your real estate lawyer's fee plus disbursements, with HST.
- Mortgage payout. The balance on the closing date, plus any prepayment penalty and discharge fee set by your lender.
- Preparation and moving. Staging, repairs, cleaning and moving — optional, and very different from home to home.
- Closing adjustments. Prepaid property tax, utilities or condo fees are credited or charged on the statement of adjustments.
What this calculator leaves out
- Land transfer tax — paid by the buyer in Ontario, not the seller.
- Capital gains tax — a principal residence is usually exempt, but rental, investment, partly rented and non-resident sales can owe tax. Ask an accountant.
- Fixed-rate penalties — often an interest rate differential only your lender can calculate. Ask for a payout statement.
Related tools
- Estimate your home's value
- Compare commission scenarios
- How home value estimates work
- Home values by Ontario city
General information for planning only — not legal, tax or lending advice. Summitly is operated by Coldwell Banker Summit Realty, Brokerage.
