ONTARIO HOME INTEL • SELLING
Selling a Home in Ontario
Understand pricing, preparation, selling costs, offers, conditions, closing, representation, and the decisions involved in selling an Ontario property.
Important Information
Ontario Home Intel is an independent educational resource and is not a real estate agency or brokerage. Content is provided for general educational and informational purposes only.
Nothing on this page is intended to be real estate, legal, financial, tax, appraisal, inspection, engineering, planning, or other professional advice.
Viewing this page, using the site’s tools, or submitting a general inquiry does not create a client relationship, agency relationship, fiduciary relationship, or real estate representation agreement.
Real estate representation is established separately through the applicable disclosures and written agreements.
Start With Your Goals
Selling a property is not simply about choosing a listing price. Your timing, mortgage balance, next purchase, required net proceeds, property condition, local market, and tolerance for uncertainty can all affect the selling strategy.
Before listing, it can help to answer a few basic questions:
- Why are you selling?
- When do you need or want to move?
- Do you need to buy another property?
- How much is currently owing on the property?
- Are there repairs or renovations that should be completed first?
- Are there tenants or other occupants?
- Are there permits, additions, rentals, or property issues that should be investigated?
- How much do you need to net after selling costs?
The Ontario Home-Selling Process
1. Evaluate the Property
Review condition, features, improvements, permits, local market conditions, comparable sales, and potential issues that may affect marketability.
2. Choose a Pricing Strategy
Use current market evidence rather than relying only on assessed value, renovation cost, online estimates, or the amount you hope to receive.
3. Prepare for Market
Address presentation, cleaning, repairs, staging, photography, disclosures, documentation, and other work required before the property is marketed.
4. Market the Property
Expose the property to prospective buyers through the appropriate listing, marketing, showing, and promotional strategy.
5. Review Offers
Compare price, deposit, financing, inspection, closing date, conditions, inclusions, exclusions, and other contractual terms.
6. Complete the Sale
Once the transaction is firm, complete contractual obligations, lawyer requirements, buyer visits, mortgage discharge, adjustments, and closing.
What Is Your Home Worth?
A property’s market value is influenced by what qualified buyers are willing to pay under current market conditions. Comparable sales are an important starting point, but they are not the only consideration.
Factors That Can Affect Value
- Location and neighbourhood
- Property type
- Lot size and configuration
- Finished living area
- Bedrooms and bathrooms
- Condition and renovation quality
- Basement configuration
- Garage and parking
- Comparable recent sales
- Current competing listings
- Buyer demand
- Interest rates and financing conditions
- Property taxes and carrying costs
- Zoning and permitted uses
- Rental or additional-unit potential
Municipal assessment values, automated online estimates, and the amount spent on renovations do not necessarily equal current market value.
Selling Costs to Consider
The sale price is not the amount a seller ultimately receives. Several costs can reduce the seller’s net proceeds.
- Real estate brokerage remuneration, where applicable
- HST on applicable real estate services
- Legal fees and disbursements
- Mortgage discharge costs
- Mortgage prepayment penalties, where applicable
- Property tax adjustments
- Utility or rental-equipment adjustments
- Repairs or agreed work before closing
- Staging or preparation costs
- Moving expenses
- Other property-specific closing adjustments
If you are relying on a specific amount of money from the sale to purchase another property or meet another financial obligation, estimate your expected net proceeds before accepting an offer.
Preparing Your Home for Sale
Not every property needs a major renovation before being listed. In many cases, targeted preparation can improve presentation without creating unnecessary expense.
Common Preparation Priorities
- Declutter rooms and storage areas
- Deep clean the property
- Address obvious maintenance issues
- Repair visible damage where practical
- Improve lighting
- Touch up paint
- Improve curb appeal
- Organize exterior spaces
- Remove unnecessary personal items
- Gather permits, warranties, surveys, invoices, and relevant property records
Before spending heavily on renovations solely for resale, consider whether the expected market benefit reasonably exceeds the cost and disruption involved.
Property Issues to Investigate Before Listing
Potential issues are often easier to address before a buyer discovers them during negotiations, financing, inspection, legal review, or municipal research.
- Unfinished or open building permits
- Additions or renovations completed without permits
- Basement apartments or additional residential units
- Tenant or occupant arrangements
- Rental equipment
- Shared driveways
- Easements or rights of way
- Septic systems or private wells
- Heritage restrictions
- Conservation or flood-related restrictions
- Property boundary concerns
- Known defects or damage
- Municipal work orders
Do not assume that a long-standing use, renovation, apartment, addition, or structure is automatically legal or properly permitted simply because it existed when you purchased the property.
SELLING GUIDES
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Reviewing an Offer
An offer should be evaluated as an entire package. The highest price is not always the offer with the best overall terms or the greatest likelihood of successfully closing.
Important Offer Terms
- Purchase price
- Deposit amount
- Closing date
- Financing condition
- Home inspection condition
- Sale-of-property condition
- Status certificate condition, where applicable
- Requested inclusions
- Requested exclusions
- Rental equipment
- Representations and warranties
- Buyer visits
- Specific seller obligations
A seller may accept an offer, reject it, allow it to expire, or respond with a counter-offer. A counter-offer changes the contractual proposal and should be considered carefully.
Conditional and Firm Offers
A conditional offer generally gives the buyer time to satisfy specified conditions before becoming fully committed to the purchase.
Common buyer conditions may involve financing, inspection, insurance, a condominium status certificate, sale of another property, or another property-specific investigation.
A firm offer generally means the buyer has not included conditions that allow the buyer to terminate the agreement for those reasons. Firm offers can reduce uncertainty for a seller, but the entire agreement should still be reviewed rather than focusing only on whether conditions are present.
Once the Sale Is Firm
A firm sale does not mean the seller’s work is finished. Several steps still need to occur before legal ownership transfers.
- Provide the Agreement of Purchase and Sale to your lawyer.
- Complete any contractual repairs or obligations.
- Prepare for scheduled buyer visits.
- Maintain the property until closing.
- Arrange movers and utility changes.
- Provide keys and other required items.
- Work with your lawyer regarding mortgage discharge and closing documents.
- Review the lawyer’s statement of adjustments and expected net proceeds.
- Ensure included fixtures and chattels remain as agreed.
- Do not make material changes to the property contrary to the agreement.
Your lawyer completes the legal closing and confirms when the sale has been completed.
Thinking About Selling?
A REALTOR® can help you review comparable sales, pricing strategy, property preparation, marketing, offers, conditions, and the overall selling process.
If you would like to speak with a registered real estate professional, use the contact page to learn more about available real estate services and representation.
Making an inquiry does not create a representation relationship or obligate you to list your property.
Before Choosing Real Estate Representation
Contacting a REALTOR® and becoming a client are separate steps. Before entering into a representation relationship, Ontario consumers should understand how real estate representation works and what rights and responsibilities apply.
RECO Information Guide
The Real Estate Council of Ontario (RECO) publishes an Information Guide explaining important topics including representation, representation agreements, services, remuneration, multiple representation, and self-representation.
If you are considering working with a real estate agent or brokerage, review the official RECO Information Guide before deciding how you want to proceed.
Ontario Home Intel is not affiliated with or operated by the Real Estate Council of Ontario.
Ontario Home Selling FAQ
How do I know what my home is worth?
Current market value is generally estimated by reviewing relevant comparable sales, competing properties, location, condition, features, market activity, and other property-specific factors. Municipal assessment and online estimates do not necessarily represent current market value.
Should I renovate before selling?
Not necessarily. Some repairs or improvements may improve marketability, but extensive renovations do not always provide a dollar-for-dollar return. The decision should consider the property’s condition, likely buyer expectations, cost, timing, and local market.
What costs does a seller usually have?
Potential costs can include brokerage remuneration where applicable, HST on services, legal fees, mortgage discharge costs, possible mortgage penalties, moving costs, preparation expenses, and property-specific adjustments.
Do I have to accept the highest offer?
No. A seller generally evaluates the entire offer, including price, conditions, deposit, closing date, inclusions, exclusions, and other terms. The highest-price offer may not always have the most attractive overall terms.
Can I sell a home with a mortgage?
Yes. The seller’s lawyer generally arranges for the mortgage to be discharged from the sale proceeds. Depending on the mortgage terms, a discharge fee or prepayment penalty may apply.
Can I speak with a REALTOR® before deciding to sell?
Yes. You can make a general inquiry about the selling process, current market conditions, or potential representation without committing to list your property. An inquiry by itself does not create a representation relationship.
Is Ontario Home Intel a real estate brokerage?
No. Ontario Home Intel is an independent educational resource. It provides general educational information about Ontario property and real estate topics and is not a real estate agency or brokerage.
Continue Your Research
Ontario Home Guides
Browse all Ontario Home Intel articles covering buying, selling, ownership, renovations, permits, zoning, and municipal property rules.
Municipal Guides
Research local zoning, permits, rental rules, taxes, heritage requirements, and other municipal considerations.
Buying Next?
If you’re selling and purchasing another property, review the Ontario home-buying process as part of your planning.
Disclaimer: Ontario Home Intel is an independent educational resource and is not a real estate agency or brokerage. Content is provided for general educational and informational purposes only. Nothing on this website is intended to constitute real estate, legal, financial, tax, lending, appraisal, inspection, engineering, planning, or other professional advice. Website content should not be relied upon as advice regarding a specific property or transaction. Viewing this website, using its tools, or submitting a general inquiry does not create a client relationship, agency relationship, fiduciary relationship, or real estate representation agreement. Real estate representation, if established, is created separately through the applicable RECO disclosures and written agreements. Always obtain appropriate professional advice for your individual circumstances.