A seller deserves more than “it depends.” The categories below show where money can leave the transaction, and the hypothetical $600,000 example demonstrates the math without pretending one remuneration structure or service package applies to everyone.

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The main selling-cost categories

The Financial Consumer Agency of Canada identifies legal fees, mortgage discharge costs, real estate fees, repairs or renovations, inspection or appraisal costs, moving, staging, cleaning and possible mortgage prepayment penalties among the costs a seller may face. Your transaction may include some, all or additional property-specific items.

Separate fixed quotes from estimates and choices. Legal work and lender amounts should come from the responsible providers. Cleaning, repairs, staging, storage and moving depend on the property and plan. Brokerage remuneration comes from the written agreement—not an online “standard commission” claim.

How real estate remuneration enters the calculation

RECO explains that the seller and brokerage decide the payment amount for services. It may be a fixed amount, a percentage of sale price or a combination, and it is not fixed or approved by RECO, government, a real estate association or a real estate board. Read the actual representation agreement and ask what services and possible changes are included.

If remuneration is percentage-based, the basic math is sale price multiplied by the agreed percentage. HST may apply to taxable services. Ontario's current HST rate is 13%, but confirm the tax treatment shown in the agreement and final statement with the brokerage and lawyer.

Hypothetical $600,000 sale: how to structure the worksheet

Assume a home sells for $600,000. This is a math example only—not a valuation, quote, typical fee or suggested remuneration. If a signed agreement used a 3% calculation, the remuneration line would be $18,000 and 13% HST on that service would be $2,340. At 4%, the same lines would be $24,000 and $3,120. At 5%, they would be $30,000 and $3,900. These examples show how the formula changes; they do not describe what any seller must or should agree to pay.

Next add the lawyer's written quote and disbursements; the lender's payout, discharge fee and any prepayment penalty; moving and storage quotes; and the chosen preparation costs. Subtract each verified or estimated line from $600,000, then subtract the mortgage payout and any other amounts directed through closing. The result is a planning estimate of net proceeds—not a guaranteed closing figure.

What belongs below the sale price

A useful worksheet has separate lines for: brokerage remuneration under the signed agreement; HST where applicable; legal fees and disbursements; mortgage discharge or prepayment amounts; repairs; staging; photography or marketing not included in the service agreement; cleaning; moving; storage; utility or tax adjustments; condominium documents where relevant; and a contingency for unresolved items.

Do not combine every cost into one guessed percentage. A seller who does minimal preparation and has no mortgage penalty can have a different result from a seller completing repairs, carrying storage and breaking a mortgage term—even at the same sale price.

Preparation is a decision, not an automatic expense

Cleaning, repairs, staging and improvements should be tied to the property's likely buyers, current competition, time and available budget. Review the renovate-before-selling guide before committing to major work.

A home can also be marketed in its present condition when that strategy fits the seller and evidence. The selling as-is guide explains the trade-offs. Contractors should quote and advise on specialized work; Zach can help connect the preparation decision to the listing plan.

Build three net-proceeds scenarios

Use a conservative, middle and higher sale-price scenario informed by current comparable evidence. Keep every cost line the same unless it truly changes with sale price. Label each input as signed, quoted, estimated or unknown, with the source and date.

Start with the London home-value page, then connect the numbers to the London seller hub. A comparative market assessment is an informed opinion, not a formal appraisal or a promise of sale price.

Official sources and address checks

Review the current RECO Information Guide, FCAC's guides to selling a home and mortgage discharge, and the CRA's GST/HST rates.

Your brokerage agreement, lender, lawyer, accountant and property-specific quotes control the real calculation. Confirm tax, legal and financial treatment with the appropriate professionals.

London home-selling cost questions

Is there a standard REALTOR® commission in Ontario?+

No. RECO states that the seller and brokerage decide the payment amount for services. It may be a fixed amount, a percentage or a combination, as set out in the agreement.

Is HST added to real estate remuneration in Ontario?+

HST may apply to taxable services. Ontario's current HST rate is 13%, but the agreement, brokerage and lawyer should confirm the amount and treatment for the transaction.

Can selling a home trigger a mortgage penalty?+

It can when a mortgage is paid out before the term ends. The lender must provide the current payout, discharge fees and any prepayment penalty that applies.

How do I estimate my net proceeds?+

Begin with realistic sale-price scenarios, then subtract the mortgage payout and every signed, quoted or estimated selling-cost line. A lawyer and lender should confirm the closing amounts.

Build your property-specific net-proceeds plan

Send Zach the address and possible timing. He can prepare the comparable-market starting point and identify the cost questions to take to your lawyer, lender and service providers.

Start my selling-cost plan

The $600,000 example and percentage calculations are hypothetical math examples only. They are not a quote, fee schedule, typical rate, valuation, tax opinion or promise of net proceeds. Review signed agreements and obtain current legal, tax, lending and other professional advice.