Buy vs rent tool
Selling costs and net proceeds
Selling costs are the exit fee in a buy vs rent comparison. Estimate them for a given sale price and see what cash is left after the mortgage is paid.
What you pay when you sell
Typical costs include the listing and buyer-agent commission plus GST on it, legal fees, any mortgage break penalty if you sell mid-term, staging and moving. Commission is negotiable and varies by brokerage and arrangement.
Questions people ask
Who pays the buyer’s agent?
Arrangements vary and are negotiated. Ask your agent to explain how the commission is structured before listing.
When is a penalty charged?
If you sell before the end of your mortgage term and do not port or assign the mortgage. Fixed-rate penalties can exceed three months’ interest.
Is there tax on the gain?
The sale of a principal residence is generally tax-free in Canada, but you must report it on your tax return.
Educational estimates based on your inputs; not advice. See the methodology and assumptions.