Don't worry if you don't know all the numbers. Fill in what you know and use it as a starting point. You can leave the rest blank and add figures as you learn more.
Your numbers stay in your browser. Nothing you enter here is submitted to HomeWiseman.com.
Your estimated net proceeds
These results are out of date. Select Calculate to update them.
| Item | Amount |
|---|---|
| Estimated net proceedsCalculated |
This estimate doesn't include everything yet. Some costs were left blank. That's okay: the result is a starting point. Add or update figures as you get them.
Not entered yet:
This is an estimate, not a closing statement. Your actual net proceeds will depend on the final sale price and the amounts that apply to your sale. Confirm important figures with the appropriate source before relying on this estimate.
What “estimated net proceeds” means
Your estimated net proceeds are the amount left from the sale price after the mortgage payout, selling costs and closing adjustments are taken into account. Until closing, it's an estimate: the actual amounts are confirmed on closing.
What this calculator includes, and what it doesn't
It includes the sale price you enter, REALTOR® compensation and the HST on it, the mortgage and other debts paid on closing, prepayment penalties and lender charges, legal fees and disbursements, preparation and moving, adjustments on closing, and any other costs you name.
It doesn't include:
- carrying costs while you sell, such as mortgage payments, property tax, utilities and insurance;
- tax that may arise from selling the property;
- special requirements for sellers who aren't residents of Canada;
Figures you may not know yet, and where they come from
You won't have some of these until later in the process, and that's normal.
| Figure | Where it comes from |
|---|---|
| REALTOR® compensation | The amount you want to use for your estimateIf you're already working with a brokerage, you can use the compensation arrangement that applies to you. |
| Mortgage payout | Your lender's payout statement |
| Prepayment penalty and lender charges | Your lender, in writing |
| Legal fees and disbursements | A lawyer's written quote |
| Preparation and moving | Quotes from the people who'd do the work |
| Adjustments on closing | The statement of adjustments, near closing |
How changing a figure changes the estimate
- A higher or lower sale price changes the estimate directly.
- If you entered compensation as a percentage, changing the sale price also changes the compensation and the HST on it.
- Each cost you add lowers the estimate by that amount.
- A credit on closing raises the estimate; an amount you owe lowers it.
Try a different sale price or updated costs and select Calculate again.
About this estimate
This calculator gives general information for planning. It isn't legal, tax, mortgage or financial advice. Your actual proceeds on closing may differ from this estimate: costs and adjustments specific to your sale may apply, and some figures change up to the closing date. Confirm important figures with the appropriate source before making decisions.
Compensation. The calculator does not suggest or recommend a REALTOR® compensation amount or rate. You choose the figures you want to use for your estimate.
Taxes on the sale. This calculator doesn't work out any tax that may arise from selling the property, such as tax on a capital gain. Whether tax applies depends on your circumstances, for example whether the home was your principal residence for every year you owned it. The Canada Revenue Agency explains the rules, and a qualified tax professional can advise you.
Related
- What will selling really cost?Each cost of selling, explained one by one.
- The selling processThe steps of a sale, in order, and where they can vary.
- Preparing your home to sellWhat to prepare, and what may not be worth doing.