ONTARIO HOME INTEL • CALCULATORS
Ontario Seller Net Proceeds Calculator
Estimate how much money could remain after selling an Ontario property and paying common selling expenses.
Sale Details
Real Estate Remuneration
Legal & Mortgage Costs
Other Selling Expenses
Estimated Seller Proceeds
Real Estate Costs
Legal & Mortgage Costs
Other Selling Costs
What Are Seller Net Proceeds?
Seller net proceeds are the approximate amount of money remaining from a property sale after mortgages and selling expenses are paid.
The sale price shown on an Agreement of Purchase and Sale is therefore not the same as the amount the seller ultimately receives.
Common Ontario Home-Selling Costs
Mortgage Payout
If there is a mortgage registered against the property, the seller's lawyer will generally arrange for it to be paid and discharged as part of the closing.
Real Estate Remuneration
Where a seller uses a real estate brokerage, remuneration is based on the applicable agreement. Remuneration is negotiable and is not fixed by law.
Legal Costs
A seller normally requires a lawyer to complete the legal transfer, discharge mortgages, process adjustments, receive sale funds, and complete the closing.
Mortgage Penalties
Breaking a closed mortgage before maturity can result in a prepayment charge. The actual amount depends on the mortgage contract and lender.
Adjustments
Property taxes, condominium fees, utilities, fuel, rental equipment, and other items may be adjusted between buyer and seller on closing.
Property Preparation
Cleaning, staging, repairs, painting, landscaping, storage, moving, and other preparation expenses can reduce the seller's ultimate proceeds.
Know Your Minimum Sale Price
Estimating net proceeds before listing can help a seller understand how different sale prices affect the money available after closing.
This can be especially important when the proceeds are needed for a down payment on another property, debt repayment, relocation expenses, or another financial obligation.
Mortgage Payout vs. Mortgage Balance
The mortgage balance shown in online banking may not be the exact amount required to discharge the mortgage.
A lender's formal payout statement may include accrued interest, prepayment charges, discharge-related costs, or other amounts. For a more accurate net-proceeds estimate, use the lender's current payout figure when available.
Seller Net Proceeds FAQ
How do I calculate what I will receive after selling my house?
Start with the sale price, then subtract the mortgage payout and applicable selling expenses such as real estate remuneration, HST on taxable services, legal costs, mortgage penalties, adjustments, repairs, moving costs, and other transaction expenses.
Is real estate commission fixed in Ontario?
No. Real estate brokerage remuneration is negotiable and depends on the agreement between the consumer and brokerage. The calculator allows you to enter the percentage applicable to your circumstances.
Does HST apply to real estate remuneration?
Real estate brokerage services are generally subject to HST in Ontario. The calculator includes an option to estimate 13% HST on the remuneration amount.
What if my mortgage is larger than my sale proceeds?
If the sale proceeds are insufficient to pay the mortgage and other amounts required to complete the transaction, additional funds may be needed. Speak with your lawyer and lender before committing to a sale if this may apply.
Are property taxes deducted when I sell?
Property taxes are commonly adjusted between buyer and seller based on the closing date and amounts already paid. The actual adjustment is calculated as part of the legal closing.
Is this the exact amount I will receive?
No. This is an estimate. The final amount depends on the actual sale agreement, mortgage payout, brokerage agreement, lawyer's calculations, adjustments, taxes, contractual obligations, and other transaction-specific amounts.
Thinking About Selling?
A REALTOR® can help evaluate comparable sales, pricing strategy, property preparation, offers, conditions, and other factors that affect a potential sale.
Calculator Disclaimer: This calculator provides general estimates for educational and planning purposes only. It is not legal, financial, tax, accounting, lending, mortgage, or real estate advice. The actual proceeds from a sale depend on the final purchase price, mortgage payout, brokerage agreement, HST, legal fees, adjustments, contractual obligations, taxes, repairs, liens, penalties, and other property-specific costs. Obtain an official mortgage payout statement and review expected closing proceeds with your lawyer before relying on an estimated amount.