Seller net proceeds Step 1 of 4
How much is left on your mortgage?
Check your latest statement. Enter 0 if it's paid off.
Commission and closing costs
Commission is always negotiable and set in your listing agreement.
Want the real number for your home?
This uses round numbers. Send us your address and we'll run it against what homes on your street are actually selling for.
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Estimate only. Excludes any mortgage discharge penalty, tax and utility adjustments, moving costs and agreed repairs.
The rules behind the number
- 1Commission and HST
Commission is a percentage of the sale price, split between the listing and buying brokerages, and HST at 13% is charged on top of it.
- 2Your mortgage payout
The balance left on your mortgage is paid out of the sale proceeds on closing. Breaking a mortgage early can add a penalty, so check with your lender.
- 3Legal and other costs
Your lawyer's fee and disbursements, plus smaller items like a status certificate for condos. $1,500 to $2,500 is typical in London.
Questions people ask
Usually 4% to 6% of the price once commission, HST and legal fees are added up, plus any mortgage penalty and moving costs.
Not on your principal residence, in most cases. Rental and investment properties are different. Ask your accountant about your situation.
On closing day. Your lawyer pays out the mortgage and costs, then releases the rest to you, usually the same day or the next business day.
If you break a fixed mortgage before the term ends, your lender may charge three months' interest or an interest rate differential. You may be able to port the mortgage to your next home instead.
Start with a real price for your home. Our free evaluation looks at recent sales on your street and the condition of your place, and comes back within a day.