Acres

Sale proceeds

What you'll walk away with after commission, legal fees and paying off your mortgage.

Cash in your pocket

$175,280

From a $450,000 sale

The sale

$
%
From your listing agreement
%
$
Your lawyer's quote
$
And cleaning
$
$
+ buyer owes you, − you owe

Your mortgage

$
$
0 if you're porting it

Costs of selling

Commission
$18,000
HST on commission
$2,520
Legal fees
$1,200
Repairs, staging, cleaning
$1,500
Moving
$1,500
Total selling costs5.5% of the sale price
$24,720

Paying off the mortgage

Balance + penalty
$250,000
Net proceeds
$175,280
In Nova Scotia the buyer pays deed transfer tax, not the seller. If it's your principal residence, the gain is usually tax-free.
How it works
  • Selling costs are the commission, HST on the commission, legal fees, and whatever you spend getting the home ready and moving.
  • Your lender is paid the mortgage balance plus any prepayment penalty from the sale proceeds on closing day.
  • Closing adjustments settle prepaid costs like property tax between you and the buyer. The buyer pays deed transfer tax in Nova Scotia.

Sources

CRA: GST/HST rates

Estimate only, not legal, tax or financial advice. Your lawyer's statement of adjustments has the final numbers.