1% + 2% = 3%, 13% HST included, in
An estimate from the numbers you enter. Your lawyer’s closing statement gives the final figure.
Net sheet questions.
What is a seller net sheet?
A net sheet estimates what you keep after selling your home: the sale price minus your mortgage, any mortgage penalty, real estate commission and HST, legal fees, moving and other costs.
What does it cost to sell a house in Ontario?
The main costs are real estate commission plus 13% HST, your remaining mortgage and any penalty for breaking it early, legal fees, and moving. Sellers in Ontario do not pay land transfer tax; the buyer does.
How is a mortgage penalty calculated?
It depends on your lender and mortgage type. Fixed-rate mortgages are typically charged the greater of three months’ interest or an interest rate differential. Variable-rate mortgages are usually three months’ interest. Your lender’s payout statement gives the exact figure, and it is $0 if your term matures before closing.
How much commission is included in this estimate?
FairCommission’s 1% listing commission plus the buyer-agent side for your city (2%, or 2.5% in Oakville and Mississauga), with 13% HST added. The page also shows the difference against a 5% commission.
Is this number exact?
No. It is an estimate based on the numbers you enter. Your lawyer’s statement of adjustments on closing gives the final figure, including property tax and utility adjustments.
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