Toronto seller guide
How much will I walk away with after selling my Toronto home?
Your sale price minus your mortgage is only a rough guess. Commission, HST, legal fees, prep and moving all come out before the money reaches you. Here is the full list, with a worked example.
By Spiro Vrysellas, Broker, Vrysellas Team, Elevate Realty Inc., Brokerage. Updated October 2026.
What comes out of your sale price
- Commission plus HST. Typically around 5% of the price in Toronto, with 13% HST charged on the commission.
- Your mortgage balance and any secured line of credit.
- Mortgage discharge fee or penalty. Breaking a mortgage before the end of its term can cost three months of interest or more on a fixed rate. Ask your lender for a payout statement early, and ask whether you can port the mortgage to your next home.
- Legal fees. Usually $1,500 to $2,500 for a sale.
- Staging and prep. Typically $6,000 to $25,000 or more in Toronto, depending on the home and price.
- Photography and marketing. Typically $3,000 to $6,000 for photos, floor plans, video and advertising.
- Pre-listing inspection. Typically $500 to $1,000.
- Adjustments and moving. Prepaid property tax or utilities may come back to you, while moving and storage go out.
Worked example
A Toronto homeowner selling for $1,300,000 with $620,000 left on the mortgage, at the end of their term.
| Sale price | $1,300,000 |
| Commission (5%) plus HST | -$73,450 |
| Mortgage balance | -$620,000 |
| Legal fees | -$1,800 |
| Staging and prep | -$8,000 |
| Photography and marketing | -$4,000 |
| Pre-listing inspection | -$700 |
| Adjustments and utilities | -$500 |
| Moving | -$3,000 |
| Net proceeds | About $588,550 |
If you are buying again in Toronto, plan for land transfer tax on the next home too. On a $1,600,000 purchase that is $56,950 in Ontario and Toronto tax combined. Our cash to close guide walks through the rest.
Taxes when you sell
A home that was your principal residence for every year you owned it is usually exempt from capital gains tax, but you still report the sale on your tax return. A rental property, a cottage or a home you did not live in the whole time can owe capital gains tax, with half of the gain taxable at your marginal rate. Speak with your accountant before you list.
Frequently asked questions
When do I get the money from my sale?
On closing day. Your lawyer pays off the mortgage and costs, then releases the balance to you, usually the same day or the next business day.
Can I use my proceeds as the down payment on my next home?
Yes. If you buy before you sell, a bridge loan from your lender can cover the gap between the two closings.
Is staging worth the cost?
In most Toronto neighbourhoods, a well prepared home sells faster and closer to the top of its range. The cost is usually small next to the difference in price.
Do I pay HST when I sell my house?
Not on the sale of a used home you lived in. HST applies to the commission and some services, not to the price.
More Toronto guides
How much mortgage you can qualify for Cash to close and land transfer tax Investment property cash flow and cap rateEstimates only. Your costs depend on your home, your mortgage and your listing plan. Speak with your lawyer and accountant before you sell. This is not legal, tax or financial advice.