The real math of selling
The number that matters when you sell is not the price on the sign. It is what actually lands in your account after everyone else is paid. This guide walks through every cost that comes out of a GTA sale, in plain words, so you can work out your real take-home before you ever list.
What actually determines your take-home
The sale price is only the starting point. A handful of costs come out of it before anything reaches you, and the size of your mortgage payoff matters too. Once you know each piece, there are no surprises on closing day. Let us walk through them one at a time, in plain language.
Commission, the biggest line
In the GTA, real estate commissions are typically 4 percent to 5 percent of the sale price, plus 13 percent HST on the commission. That total is split between the buying and listing brokerages. So it covers both the side that brings the buyer and the side that markets and sells your home.
The commission is a percentage of your sale price, usually 4 percent to 5 percent, with 13 percent HST added on top. It is shared between the two brokerages in the deal, the one representing the buyer and the one representing you.
The other costs
Beyond commission, a few more items come out of your proceeds:
- Legal fees, roughly $1,000 to $2,000, for the lawyer who handles your closing.
- A possible mortgage break penalty, if you are ending your mortgage early. This one can be small or surprisingly large, so it is worth checking before you commit.
- Moving costs, which vary with how far you go and how much you move.
If you end your mortgage before its term is up, your lender may charge a penalty for breaking the contract early. On a fixed mortgage it can run into thousands of dollars, so it is worth estimating ahead of time rather than finding out at the last minute.
Net proceeds, defined plainly
Here is the number that actually matters, the one to know before you list.
Net proceeds is what you keep. It equals the sale price minus your mortgage payoff minus these costs, meaning commission and HST, legal fees, any break penalty, and moving. It is the money that actually reaches you after the sale closes.
The 2026 market, told honestly
It helps to know the ground you are selling on. In 2026 the GTA market is more balanced and buyer-favourable than it has been. Homes are selling on average roughly 2 percent below asking, with about 47 days on market. Condos especially have high inventory and softer prices.
None of that decides whether you should sell. It just means pricing and patience matter more than they did in a frenzied market. A home priced to the current reality still sells.
So is it the right time to sell?
Whether it is the right time to sell depends on your own numbers and needs, not on hype. What matters is your net proceeds, your mortgage payoff, where you are going next, and your timeline. A headline about the market average tells you very little about your specific sale.
Before putting the home up, this seller works out their net proceeds on paper: the sale price, minus the mortgage payoff, minus commission and HST, legal fees, a possible break penalty, and moving. By the time offers arrive they already know their real take-home, so there are no surprises at closing. That is the whole point of doing the math first.
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