What will you actually walk away with?
Your sale price isn't what lands in your account. Answer a few quick questions and you'll see your commission, legal fees, mortgage payout, any penalty, and what's left for you.
Takes about a minute.
What do you think it'll sell for?
Your best guess is fine. Not sure? Use a recent sale on your street, or ask me for a free estimate.
What's left on your mortgage?
Check your latest mortgage statement or banking app. Put 0 if it's paid off. Include a HELOC if it's secured on the home.
Will you be breaking your mortgage early?
If you sell before your term is up, the bank usually charges a penalty, unless you're taking the mortgage with you to your next home (porting).
Is this the home you live in?
Selling your principal residence is usually tax-free. A rental or investment property isn't.
Last bit: selling costs
Here's your number
Your breakdown
A few things to keep in mind
- Your lawyer pays out the mortgage and commission on closing day and sends you what's left, usually within a day or two.
- Property tax, utilities and condo fees get adjusted on closing. If you've prepaid, you'll get some of that back.
- Buying your next place too? Line up the dates so you're not stuck carrying two homes, or needing bridge financing.
The biggest number on this page is the sale price, and that's the one most people get wrong. If you want a real read on what your home would sell for right now, I'm happy to put one together for you.