Home Selling Fees Calculator

Investing in real estate can be a lucrative way to grow your wealth, but there are many reasons why you might decide to sell your home. You may be relocating for a new job, downsizing after your children have moved out, or seeking a larger space for a growing family. Perhaps you’re looking to liquidate your assets for retirement or simply want a change of scenery. Whatever your motivation, it’s important to be aware of the various fees and costs associated with selling a property.

When selling your home, you’ll encounter several standard costs. Legal fees are a given, covering services such as the statement of adjustment. You’ll need to pay a mortgage discharge fee to remove the collateral hold on your home. Other potential costs include real estate agent fees, which can be a significant expense. You may also need to budget for repairs or renovations to make your property more attractive to buyers.

While many websites offer a pre-made home selling fees calculator, it may not be comprehensive, causing you to overlook important costs. To get a more accurate estimate, consider creating your own home selling fees calculator tailored to your specific situation. We will list possible fees to add to your calculator, ensuring you account for all relevant expenses. Your own home selling fees calculator can give you a clearer picture of your potential net proceeds, so you can better prepare for your financial obligations.

What are the Fees to Consider When Selling a Home?

Calculating home sale proceeds involves adding up the various costs you’ll incur and subtracting them from the selling price. Here is a breakdown of fees to consider including in your home selling fees calculator.

Legal Fees

Legal fees cover the services of a lawyer who will manage the legal aspects of the sale, including the statement of adjustment. These fees ensure all necessary legal documentation and processes are correctly handled.

Outstanding Mortgage

If you still have an outstanding mortgage on your property, you’ll need to pay it off at the time of sale. This includes the principal balance and any interest up until the closing date. Plus, you may incur a mortgage discharge fee to remove the collateral from your home. Your financial institution charges this fee to cover the administrative costs of officially releasing the mortgage from the property title so the new owner can take possession without any encumbrances.


If the property wasn’t your principal residence for the entire period you owned it, you might be liable for capital gains tax on the profit from the sale. In Canada, about 67% of the capital gain is taxable, and it’s added to your income for the year. You’ll also need to settle any outstanding property taxes up to the closing date. This can be prorated based on the time you’ve owned the property during the tax year. There are also transfer taxes (often called land transfer taxes) that vary by province. For example, Ontario, British Columbia, and Quebec have significant land transfer taxes that can be a percentage of the sale price.

Real Estate Agent Commission

Real estate agent commissions are typically between 4% to 6% of the sale price and cover both the buyer’s and seller’s agents.

Moving Costs

The cost of moving your belongings from the sold property to your new residence should be factored in.

Inspection Costs

A certified home inspector can examine your home to identify any necessary repairs or renovations. This can help avoid price reductions during buyer inspections. Inspection costs typically range from $300 to $600, depending on the home’s size.

Repairs or Renovation Costs

If your home requires significant repairs or updates, such as roof repairs or kitchen renovations, these expenses can add up quickly. It’s essential to budget for these potential costs to maintain your property’s value.

Appraisal Costs

An appraisal by a certified professional provides an estimate of your home’s current market value. This service is often required by financial institutions and typically involves a fee.

Staging and Marketing Costs

Professionally staging your home can enhance its appeal to potential buyers, offering them a better vision of what their future home might look like. Staging costs can vary widely, often amounting to several hundred dollars depending on the size of the property and the number of rooms staged. Many sellers invest in marketing efforts such as professional photography, videography, virtual tours, or premium listings. These costs can help make your property more attractive to buyers.

Move-In/Move-Out Cleaning Fees

Deep cleaning your home before moving out and ensuring your new home is spotless before moving in can cost between $400 and $600. This includes a thorough cleaning of all major areas and appliances.

Additional Fees and Costs to Include in Your Home Selling Fees Calculator

Sales Tax on Services

Real estate commissions and certain services, such as staging and legal fees, are subject to sales tax. The rate varies by province in Canada. In Ontario, the sales tax is 13% HST.

Title Insurance

While not mandatory, some buyers may request title insurance to protect against potential issues with the property’s title. The cost is typically a few hundred dollars.

Condominium or Homeowner Association (HOA) Fees

If you’re selling a condo or a property within a homeowner association, you’ll need to settle any outstanding fees or special assessments

Home Warranty

Some sellers offer a home warranty to attract buyers, which covers major systems and appliances for a period after the sale. This can be an additional cost for the seller.

By considering all these potential fees, you can create a comprehensive home selling fees calculator to accurately estimate your net proceeds and make well-informed financial decisions.

Selling to a Cash House Buyer: A Hassle-Free Option

If you sell your home to a cash house buyer like SLG Home Buyer, you can significantly reduce or even eliminate many of the traditional fees and costs associated with selling a property. We purchase homes in their current condition, which means you can avoid costly repairs, renovations, and staging fees. Plus, there’s no need to hire a real estate agent, saving you from paying hefty realtor commissions. Legal fees are often reduced as well since cash transactions can streamline the paperwork and closing process.

Beyond the financial savings, the sale process is typically much faster, allowing you to close the deal and access your funds in a matter of days rather than months. This can be especially helpful if you need to relocate quickly or are facing financial difficulties. We provide flexible closing dates, giving you greater control over your timeline.

Ready to experience a hassle-free home sale? Contact SLG Home Buyer today to get a fair cash offer and close the deal on your timeline!

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