This is typically the largest expense when selling a property. In Ontario, the seller is responsible for paying both the listing brokerage (your agent) and the co-operating brokerage (the buyer’s agent).
The Cost: Because we offer flexible, tiered commission packages, you are in complete control of your listing fees. Depending on whether you choose our SILVER, GOLD, or PLATINUM plan, your total commission will vary.
When is it paid? You pay absolutely nothing upfront. The commission and HST are simply deducted from your sale proceeds by your lawyer on closing day.
You are legally required to use a real estate lawyer to finalize the sale, discharge your mortgage, and transfer the title to the new owner.
The Cost: Typically ranges from $1,500 to $2,500, plus HST and disbursements (administrative costs like couriers and registering documents).
Pro Tip: Always ask your lawyer for a “flat rate quote including disbursements” so you know the exact final number.
If you still have a mortgage on the property you are selling, your bank will charge you to close it out.
Discharge Fee: Banks typically charge an administrative fee of $300 to $500 to remove their name from your property title.
Prepayment Penalty: If you are breaking your mortgage term early, you will face a penalty. For variable-rate mortgages, this is usually 3 months of interest.
For fixed-rate mortgages, it is either 3 months of interest or the Interest Rate Differential (IRD)—whichever is higher. Always call your lender to get this exact number before listing your home.
Sellers in Etobicoke and Toronto often ask how much Land Transfer Tax (LTT) they have to pay when selling.
The Answer: Zero. In Ontario, the buyer is 100% responsible for paying both the Provincial and Municipal Land Transfer Taxes. As a seller, you do not pay a dime toward this.
