Selling a home in London, explained.
Selling isn't just about choosing a list price and putting a sign on the lawn. There are costs to understand, decisions to make before listing, and a process that continues right through closing. This section walks through each part so you know what to expect.
Where to start
What will selling really cost?
The expenses involved in selling, and the figures that affect your estimated net proceeds.
How does the selling process work?
From preparing and pricing through offers, conditions and closing.
What should I do before I sell?
What may deserve attention before you list, and what may not be worth doing.
Know the numbers before you make the decision
The sale price is only one number. What you have available after the sale also depends on figures like these:
- your mortgage payout, and any prepayment penalty;
- selling costs, including the compensation set out in your service agreement with the brokerage;
- legal fees and disbursements;
- adjustments on closing;
- other costs specific to your sale, such as moving.
Getting each of these in writing before you decide gives you a realistic picture of your estimated net proceeds.
Preparing to sell isn't the same as renovating for yourself
When you renovate a home you plan to live in for years, your own preferences and long-term enjoyment are a large part of the decision.
Spending money just before you sell is a different decision. The question becomes: what problem are you trying to solve, what might it cost, and does doing it make sense in the context of the sale? Sometimes the answer is yes. Sometimes the money, time or disruption isn't worth it. It depends on the home, the work and your situation.
Every home has trade-offs. Preparing a home for sale means understanding which issues matter for this property, this seller and this sale, not trying to make the home perfect. Where a question is about a home's condition or its systems, a qualified home inspector, contractor or other professional can give you a professional opinion.
Not sure where your home stands?
The Seller Readiness Score walks you through your home room by room and helps you identify what may deserve attention before you sell.
This page is general information about selling a home in Ontario. It isn't legal, tax, mortgage or financial advice. Your own agreements, your lender and the professionals you work with determine the figures and obligations that apply to you.
Thinking about selling, but not sure where to start?
You don't need to have made the decision to sell before asking a question. If you're trying to understand the costs, timing, preparation or what your options might be, ask Jonathan.