How much does it cost to sell a home in Canada?

The selling price is not the amount you walk away with. What you actually keep depends on your mortgage, your selling expenses, and the costs of completing the transaction.

Real estate commission

Commission structures vary by agent, brokerage and market, and they are negotiable. Make sure you understand the agreed fee, the taxes that apply to it, and exactly what marketing and services it includes — two quotes at the same percentage can buy very different work.

Legal and closing costs

Depending on the province, a lawyer or a notary completes the transaction. Ask for their fee and their disbursements up front; both are ordinary and both are quotable in advance.

Mortgage-related costs

The remaining balance on your mortgage
Discharge fees
Prepayment penalties, if you are breaking a term early
Bridge financing, if your purchase and sale do not close on the same day

Ask your lender for an up-to-date payout figure rather than working from your last statement. A prepayment penalty in particular can be far larger than sellers expect, and it is the one number here your lender can tell you exactly.

Preparing the property

Repairs
Cleaning
Staging
Landscaping
Any renovation you decide is worth doing
Moving and storage

Other transaction costs

Depending on the property, your residency and your province, there may be additional taxes or adjustments. Your lawyer or notary and your accountant are the right people to confirm what applies to you.

How much could you walk away with? Estimate your selling costs and net proceeds — sale price minus commission, legal fees, mortgage payout and penalties. Estimate my net proceeds

Estimating what you keep

A useful starting equation:

Expected sale price
minus mortgage balance
minus estimated selling costs
= estimated net proceeds

Every one of those numbers gets more accurate the closer you get to selling. Early on it is a planning figure; by the time you have an offer in hand and a payout statement from your lender, it is close to final.

More seller guides

When is the best time to sell a home? — Why the calendar matters less than inventory, buyer demand and what you are moving to next.
How should I price my home? — Why the highest asking price isn't the strategy that produces the highest selling price.
How do I prepare my home for sale? — Repairs, decluttering, cleaning, presentation, and the details buyers notice first.
How should my home be marketed? — Photography, listing presentation, buyer alerts, social and digital campaigns, and local promotion.

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Stuart Hall, REALTOR® · Licence #LIC-00651009 · Century 21 Bravo

Data from MLS® System. Deemed reliable but not guaranteed accurate by CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code.