Thinking of selling? Use this calculator to estimate what you could walk away with after commission, GST, your mortgage and other closing costs. Change any number to match your situation.
Illustrative estimate only. Commission rates in B.C. are not set by law; they are agreed between you and your brokerage. The default rates above are an example, not a quote.
What comes off your sale price
- Commission. Agreed with your listing brokerage before you list. In B.C. it is often quoted as one rate on the first $100,000 and a lower rate on the balance, but the rates are negotiable.
- GST on commission. The 5% GST applies to the commission, not to the sale price of a resale home.
- Your mortgage. Your lender sends a payout statement to your lawyer or notary. Ask your lender early if you will break a fixed-rate mortgage, because the prepayment penalty can be large.
- Legal fees. Your lawyer or notary handles the closing and pays out your mortgage.
- Other costs. Moving, storage, staging and small repairs before listing.
Sellers in B.C. do not pay property transfer tax; the buyer pays it. Property taxes and strata fees are adjusted on the completion date, so you may get a small credit or charge.
Want a real number for your home?
The biggest unknown is the sale price. I can prepare a free home evaluation based on recent sales near you. Call or text me at 604-785-5555, or request your free home value.
Muzaffar Manghat, REALTOR®, Sutton Premier Realty
This calculator is general information, not financial, tax or legal advice. Results are estimates; confirm your figures with your lender and your lawyer or notary. This is not intended to solicit buyers or sellers currently under contract with a brokerage.
