Seller toolsSeller Net Proceeds Calculator
See what you actually walk away with. Enter your sale price and mortgage, and watch commission, HST, legal fees, and taxes come off to reveal your real net proceeds.
Your numbers
Estimated net proceeds on a $1,000,000 sale.
Where the money goes
- Sale price
- $1,000,000
- Real estate commission (5.0%)
- -$50,000
- HST on commission (13%)
- -$6,500
- Legal fees
- -$1,200
- HST on legal fees (13%)
- -$156
- Mortgage payoff (balance, discharge, penalty)
- -$400,300
- Net proceeds
- $541,844
Good to know
Land transfer tax is the buyer’s cost, not yours. As the seller you never pay Ontario or Toronto land transfer tax, so it is not deducted here.
Thinking about selling?
Team Asgarian will give you a real, current valuation and a plan to net you the most on your sale. You get the numbers whether or not you end up listing with us.
Estimates only, not tax, legal, or accounting advice. Figures use a typical GTA commission, Ontario HST of 13% on commission and legal fees, and (for non-principal-residence sales) a 50% capital-gains inclusion rate. Actual commission, legal fees, penalties, HST treatment, and taxes vary by deal and by your personal situation. Confirm every number with your real estate lawyer and accountant.
How the numbers work
How much does it cost to sell a home in Ontario?
The largest cost is the real estate commission, typically around 5% of the sale price in the GTA, plus 13% HST on that commission. On top of that you have legal fees (usually a bit over a thousand dollars plus HST), your remaining mortgage balance, a small lender discharge fee, and any prepayment penalty if you break a closed mortgage early. This calculator adds all of it up and shows what is left.
Do I pay tax when I sell my home?
If the home is your principal residence, your gain is exempt and there is no tax. If it is a rental, a second property, commercial, or land, the gain is taxable. Half of the gain is added to your income for the year and taxed at your marginal rate. Switch the property type above and the calculator adds an estimate, but the exact figure depends on your full income, so confirm it with your accountant.
What about commercial property or vacant land?
Commercial and land sales work the same way for the gain, but they add an HST question the home resale does not. These sales can be HST-taxable on the price itself. In most deals a registered buyer self-assesses that HST directly with the CRA, so your proceeds are not reduced. Personal-use land is often exempt. These are the exact points to review with your lawyer and accountant, so the calculator flags them rather than guessing.
Do I pay land transfer tax as a seller?
No. Ontario and Toronto land transfer taxes are paid by the buyer, not the seller. That is why they are not deducted from your proceeds here. As a seller your closing costs are commission, HST, legal fees, and your mortgage payoff.
What is a mortgage prepayment penalty?
If you sell before your mortgage term ends and cannot port the mortgage, your lender may charge a penalty for breaking it early. On a variable rate it is usually about three months of interest. On a fixed rate it can be larger, based on an interest-rate-differential calculation. Ask your lender for the exact figure and enter it above.
Want a real number for your home?
Book a valuation with Team Asgarian. We price your home to today's market and build a plan to net you the most on the sale.
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