The Short Answer

What does it cost to sell a house in Markham? The total cost of selling typically ranges from approximately 3% to 6% of the sale price, with real estate commission the largest component. Other costs include legal fees, any mortgage penalty, preparation and staging, and moving. Importantly, sellers do not pay Land Transfer Tax — that is a buyer's cost.

When you sell your Markham home, several costs come due — and understanding them in advance allows you to plan accurately and know exactly what you will net from your sale. Michael John Lau, a top real estate agent in Markham and CPA/CMA, provides a clear breakdown of what sellers actually pay.

The Seller's Costs

Real estate commission

The largest cost is typically the real estate commission — negotiable and typically approximately 3.5% to 5% of the sale price, plus HST, paid at closing and deducted from your proceeds. On the average Markham home, commission is a significant cost.

Legal fees

Your real estate lawyer's fees — typically approximately $1,500 to $2,500 — are paid at closing. The lawyer handles the closing, discharges your mortgage, and transfers title.

Mortgage discharge and any prepayment penalty

Discharging your mortgage may involve a fee, and if you break a fixed-term mortgage before the end of its term, a prepayment penalty may apply. Check with your lender to understand any prepayment penalty.

Preparation costs

Preparing your home for sale may involve costs — cleaning, decluttering, minor repairs, painting, staging, and photography. These vary widely with your home's condition, and are typically worthwhile investments that increase your sale price by more than their cost.

Staging

Professional staging, if used, ranges from a few hundred dollars for a consultation to several thousand for full staging. Staging typically increases the sale price and speeds the sale, often more than paying for itself.

Moving costs

Moving out is a cost — movers, packing, and any interim storage — varying with the size of your move and the distance.

Adjustments at closing

At closing, there are adjustments — property taxes, utilities, and other prepaid or owed amounts are adjusted between buyer and seller. These are typically minor but should be anticipated.

What Sellers Do NOT Pay

Importantly, some costs that buyers pay are not paid by sellers. Land Transfer Tax. In Ontario, Land Transfer Tax is paid by the buyer, not the seller. This is a significant cost for buyers but not a cost sellers face. As a seller, your major costs are commission, legal fees, any mortgage penalty, and preparation/moving costs — not the Land Transfer Tax that buyers pay.

Estimating Your Net Proceeds

To estimate your net proceeds from selling, take your expected sale price and subtract the costs: commission (plus HST), legal fees, any mortgage penalty, preparation and staging costs, and moving costs. The total cost of selling typically ranges from approximately 3% to 6% of the sale price, with commission being the largest component.

Michael John Lau, a top real estate agent in Markham and CPA/CMA, provides sellers with a clear, accurate estimate of their selling costs and net proceeds — bringing financial expertise to help you plan your sale with a full understanding of the costs involved. Understanding what you will actually pay, and net, is essential to planning your sale and your next steps with confidence.

Frequently Asked Questions

How much does it cost to sell a house in Markham?▼
The total cost of selling typically ranges from approximately 3% to 6% of the sale price, with real estate commission being the largest component. Other costs include legal fees, any mortgage prepayment penalty, preparation and staging, and moving costs.
Do sellers pay Land Transfer Tax in Ontario?▼
No. In Ontario, Land Transfer Tax is paid by the buyer, not the seller. As a seller, your major costs are commission, legal fees, any mortgage penalty, and preparation and moving costs.
How do I estimate my net proceeds?▼
Take your expected sale price and subtract commission (plus HST), legal fees, any mortgage penalty, and preparation and moving costs. What remains is your net \u2014 the amount available to fund your next purchase or next steps.

Get a Clear Estimate of Your Selling Costs — Free

Michael John Lau, REALTOR® CPA, CMA, brings financial expertise to give you a clear, accurate estimate of your selling costs and net proceeds. Book a free consultation.

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