The sale price is not the same as the amount you take home.
Before listing, estimate the selling costs so you can compare offers and plan your next move with a realistic net number.
Common Selling Costs
- Real estate remuneration: depends on the listing agreement and co-operating brokerage arrangement.
- HST: generally applies to real estate remuneration and many professional services.
- Legal fees and disbursements: confirm with your lawyer.
- Mortgage discharge or prepayment costs: if applicable, confirm with your lender.
- Preparation and staging: cleaning, repairs, paint, moving/storage and staging depend on the property and plan.
- Adjustments: property taxes, utilities or other items may be adjusted on closing.
Focus on Net Proceeds
The useful calculation is: expected sale price minus mortgage payout, selling costs and other closing adjustments. That is the number to use when planning the next purchase or move.
Sergey Luhavy offers full-service listing representation at the agreed remuneration documented in the listing agreement. Ask for a property-specific estimate before listing.