What will you walk
away with after
you sell?

If you're breaking a fixed-rate mortgage before the term ends, your lender can charge a penalty — often the greater of three months' interest or the interest rate differential (IRD). On a $400,000 mortgage, this can reach $10,000–$20,000 or more. Variable-rate mortgages typically charge only three months' interest, which is significantly less. Check with your lender before listing.

Agent commissions in Ontario are subject to HST. This is included in the commission percentage your agent quotes, but it's worth understanding. On a $700,000 sale at 4.5% commission, the gross commission is $31,500 — of which roughly $3,600 is HST. The calculator above factors this in automatically.

On closing day, property taxes are prorated to the date of possession. If the seller has already paid taxes covering a period after closing, the buyer reimburses that portion. If not, the seller pays their share. This is typically a few hundred to a few thousand dollars depending on timing — and it goes in both directions.

These don't show up in the net proceeds calculation but they affect your real position: professional movers, storage if there's a gap between closing dates, cleaning, and any repairs required as a condition of sale. Budget $2,000–$5,000 depending on the size of your move and whether closing dates align cleanly.