How to Sell Your Home for the Right Price

With fewer new listings, there are fewer homes to compete with. But sales are also down, and condo prices are lower than last year. In this market, it matters to set the right price from the start, and to draw interest in the first 2 weeks with good photos and a well-prepared home.

Sources: TRREB (October news release and Market Watch report), Bank of Canada. See the source list below.

See where your home fits — free evaluation

1. Home evaluation and listing agreement

   I visit your home and compare recent sales to give you a price analysis. If you go ahead, you sign a listing agreement (a contract that says the agent will sell your home for you). I explain how long it lasts and how the commission (the agent’s fee) works before you sign.

2. Get your home ready

   I show you which fixes are worth doing now and which you can skip. Decluttering, cleaning and, if needed, staging (setting up furniture and decor so the home looks its best) are all done before photos.

3. Set the price and list

   I look at the price analysis and other homes for sale to set your listing price and how you will take offers. Once photos, floor plans and video are ready, I post your home on MLS and start promoting it.

4. Showings and offers

   I keep track of showings (buyer visits) and buyer feedback and share it with you. When offers come in, I help you compare not only price but also the deposit (money the buyer pays to hold the deal), conditions and closing date.

5. Conditions are removed

   I make sure the buyer’s financing (loan) and inspection (home condition check) conditions are cleared by the deadline. Once all conditions are cleared, the deal is firm (final).

6. Closing

   On closing day, your lawyer receives the money, pays off your remaining mortgage and sends you the rest. The buyer gets the keys after the title is registered.

Quotes are copied word for word. “In plain words” is an explanation to help you understand, not an official translation. This is not legal or tax advice.

1. Your listing agreement must be in writing, with set contents

   A listing agreement (seller representation agreement) must be put in writing before any buyer makes an offer. It must clearly show the start and expiry dates, how the commission is worked out (your brokerage’s share and the buyer’s brokerage’s share), how it is paid, the services you get and any termination terms. The expiry date must stand out on the first page. I go through each of these with you in plain words before you sign.

   See the law 2

   If a brokerage enters into a seller representation agreement with a seller and the agreement is not in writing, the brokerage shall, as soon as possible after entering the agreement and before any buyer makes an offer, reduce the agreement to writing, have it signed on behalf of the brokerage and provide it to the seller for signature.

   In plain wordsA listing agreement (seller representation agreement) must be put in writing, signed by the brokerage and given to you to sign, before any buyer makes an offer.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

   A brokerage shall not enter into a written agreement with a buyer or seller for the purpose of trading in real estate unless the following requirements are satisfied: … The agreement clearly, comprehensibly and prominently, sets out the following information: … The date on which the agreement takes effect and the date on which it expires. … The method for determining, … the amount of any remuneration payable to the brokerage, and … in the case of an agreement with a seller, the amount of any remuneration payable to any other brokerage. … The expiry date is displayed prominently on the first page of the agreement. … The buyer or seller has initialled the agreement next to the expiry date.

   In plain wordsThe agreement must clearly show the start and expiry dates, how the commission to the brokerage is worked out, how the commission to the buyer’s brokerage is worked out, how the commission is paid, the services provided and any termination terms. The expiry date must stand out on the first page, and you initial next to it.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

2. There is no set commission: it is an amount or a percentage you negotiate. HST of 13% is added; there is no land transfer tax

   The law only says the commission must be an agreed amount or a percentage of the sale price (or a mix). A real estate agent may not say or imply that a rate is set by the government or a real estate board. Ontario HST (sales tax) of 13% is added to the agreed commission. Land transfer tax (a tax paid when buying a home) is paid by the buyer, not the seller.

   See the law 3

   All remuneration payable to a brokerage in respect of a trade in real estate shall be an agreed amount or percentage of the sale price or rental price, as the case may be, or a combination of both.

   In plain wordsThe commission must be an agreed amount, a percentage of the sale price, or a mix of both. It is agreed between you and the brokerage; there is no set rate.

   Source: ontario.ca/laws/statute/02r30 · checked Oct 30, 2026

   A registrant shall not indicate to any person, directly or indirectly, that remuneration is fixed or approved by the administrative authority, any government authority, or any real estate board or real estate association.

   In plain wordsA real estate agent may not say or imply that the commission is fixed or approved by RECO, any government or any real estate board. If someone says “the standard rate”, the law says there is none.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

   Currently, the Harmonized Sales Tax is 13% in Ontario.

   In plain wordsHST in Ontario is 13%. A real estate agent’s commission is a service, so 13% HST is added to the agreed commission. For example, on a $40,000 commission the HST is $5,200.

   Source: ontario.ca/document/harmonized-sales-tax-hst · checked Oct 30, 2026

3. Every offer must reach you, and buyers are told how many offers there are

   Your real estate agent must pass every written offer to you as soon as possible, no matter who made it or what it says. When there are competing offers, every buyer who made one must be told how many there are. A buyer can also ask RECO to check that the number was true (TRESA s. 35.1).

   See the law 2

   A registrant shall convey any written offer received by the registrant to the registrant’s client as soon as possible after receiving the offer. … Without limiting the generality of subsections (1) and (2), those subsections apply regardless of the identity of the person making the offer, the contents of the offer or the nature of any arrangements for remuneration.

   In plain wordsYour real estate agent must pass every written offer to you as soon as possible, no matter who made it, what it says or how the commission is set up. The only exception is a written direction you give (subsection (4)).

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

   If a brokerage that has entered into a representation agreement with a seller receives a competing written offer, the brokerage shall, … communicate the number of competing written offers to every person who is making one of the offers

   In plain wordsWhen there are competing offers, the brokerage must tell every buyer who made an offer how many offers there are. You cannot opt out of this.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

4. You decide how much of the offers to share (open offers)

   Since December 2023, if you give written direction, all or some details of the other offers (price, terms and so on) can be shared with every buyer who made an offer. Who made each offer is never shared. Keeping offers private (the traditional way) is also your choice. Which is better depends on the market and your home, so we decide this when we list.

   See the law 2

   if the seller directs, share the substance of the competing written offers with every person who is making one of the offers. … For the purposes of clause (1) (b), a seller may direct that only parts of the competing written offers be shared. … Information shared under clause (1) (b) must not include any personal information of the person making the offer or any other information that would identify the person making the offer.

   In plain wordsIf you direct it, the brokerage can share what the other offers say (price, terms and so on) with every buyer who made an offer, or share only some parts. Nothing that identifies the buyers is ever shared.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

   Buyers who have made an offer on a property are entitled to know the number of competing offers. Sellers choose how much other information, if any, they want to share about the offers they receive.

   In plain wordsBuyers have a right to know the number of offers. How much else to share, if anything, is your choice.

   Source: reco.on.ca/consumers/things-you-need-to-know/ · checked Oct 30, 2026

5. Pre-emptive (bully) offers: decide in writing ahead of time

   When you set an offer date and show the home until then, an offer that comes in early is called a pre-emptive offer, often a “bully offer”. Your real estate agent must have your written direction in advance on whether to show you such offers, only tell you one came in, or show you only offers above a certain price. If you choose to look at one, every buyer who showed interest must be told that the date has changed.

   See the law 2

   A seller’s representative must have specific instructions from the seller on how to manage pre-emptive offers. The instructions must be in writing, commonly referred to as written direction. … A pre-emptive offer is one where a buyer does not comply with the process outlined by the seller to delay the presentation of offers or other process conditions.

   In plain wordsA pre-emptive (bully) offer is one that ignores the offer date you set. Your real estate agent must get your written direction in advance on how to handle one: for example, do not show me any, tell me one came in, or show me only offers above a certain price.

   Source: reco.on.ca/agents-and-brokerages/reco-bulletins/reco-bulletin-4-3-managing-a-pre-emptive-offer/ · checked Oct 30, 2026

   The seller must be made aware that the pre-emptive offer was received and if the seller wants to review the offer, the seller’s agent must notify, in writing, anyone who has expressed an interest in the property of the change to offer presentation date and time.

   In plain wordsIf you decide to look at a bully offer, your real estate agent must tell every buyer who showed interest, in writing, that the offer date has changed, so they also get a chance to make an offer.

   Source: reco.on.ca/agents-and-brokerages/reco-bulletins/reco-bulletin-4-3-managing-a-pre-emptive-offer/ · checked Oct 30, 2026

6. A property information statement is optional, but you must not hide latent defects

   A Seller Property Information Statement (SPIS, a form where you describe your home’s condition) is not required. But you must not cover up defects a buyer could see, and you must disclose latent defects (hidden problems that make the home unfit or dangerous and that an inspection would likely miss, such as a known leak, mould or a structural problem). Hiding one can lead to a lawsuit after closing. When in doubt, check with a lawyer.

   See the law 3

   If a broker or salesperson who represents a seller knows that the seller has completed a written statement that is intended to provide information to buyers about the real estate that is available for acquisition, the broker or salesperson shall, … disclose the existence of the statement to every buyer who expresses an interest in the real estate

   In plain wordsA Seller Property Information Statement (a form where you describe your home’s condition) is not required. But if you fill one out, your real estate agent must tell every interested buyer it exists and show it on request.

   Source: ontario.ca/laws/regulation/050567 · checked Oct 30, 2026

   A seller does not have to disclose a patent defect to a potential buyer – it is a case of “buyer beware” … However, a seller should not attempt to conceal the patent defect or “buyer beware” may not apply. … A seller must disclose latent defects. The law of latent defects is complicated.

   In plain wordsYou do not have to point out defects a buyer or inspector can see (patent defects), but you must not cover them up. Hidden defects (latent defects) must be disclosed.

   Source: reco.on.ca/agents-and-brokerages/reco-bulletins/reco-bulletin-7-4-facts-a-seller-has-a-legal-obligation-to-disclose/ · checked Oct 30, 2026

   A latent defect is one that would make a property unfit for habitation, dangerous, or potentially dangerous, and is generally not apparent to someone exercising reasonable care in the inspection of the property. … Even if a seller does not have direct knowledge of a latent defect, they may still be liable if they were willfully blind about the existence of the defect. A seller who attempts to hide or cover up a defect faces additional liability.

   In plain wordsA latent defect makes the home unfit or dangerous and usually will not show up in an inspection (for example a known leak, mould or a structural problem). Even if you did not know for sure, you can be liable if you looked the other way, and hiding a defect adds to your liability. Check with a lawyer if you are unsure whether something counts.

   Source: reco.on.ca/agents-and-brokerages/reco-bulletins/reco-bulletin-7-4-facts-a-seller-has-a-legal-obligation-to-disclose/ · checked Oct 30, 2026

7. You can sell a home with tenants

   The lease goes with the home to the new owner. If the buyer or their family wants to move in, you give the tenant an N12 notice (the government form that tells the tenant the tenancy is ending) on the buyer’s behalf after the purchase agreement is signed (at least 60 days, ending on the last day of a rental period), and you must pay the tenant one month’s rent. That payment stays with you, the seller. This only works for buildings with 3 or fewer residential units and for condo units (Residential Tenancies Act, s. 49). I plan this when we set the closing date.

   See the law 3

   Covenants concerning things related to a rental unit or the residential complex in which it is located run with the land, whether or not the things are in existence at the time the covenants are made.

   In plain wordsThe lease goes with the home. The buyer becomes the landlord of your tenant on the same terms.

   Source: ontario.ca/laws/statute/06r17 · checked Oct 30, 2026

   A landlord of a residential complex that contains no more than three residential units who has entered into an agreement of purchase and sale of the residential complex may, on behalf of the purchaser, give the tenant of a unit in the residential complex a notice terminating the tenancy, if the purchaser in good faith requires possession of the residential complex or the unit for the purpose of residential occupation by, … the purchaser; … the purchaser’s spouse; … a child or parent of the purchaser or the purchaser’s spouse … The date for termination specified in a notice given under subsection (1) or (2) shall be at least 60 days after the notice is given and shall be the day a period of the tenancy ends or, where the tenancy is for a fixed term, the end of the term.

   In plain wordsOnly when the buyer, or the buyer’s spouse, child or parent, will move in can you (the current landlord) give the tenant an N12 notice (the government form for this notice) on the buyer’s behalf. It applies only to buildings with 3 or fewer residential units (a single condo unit counts, subsection (2)), and only after you have a signed purchase agreement. The notice must give at least 60 days and end on the last day of a rental period; with a fixed-term lease, not before the term ends.

   Source: ontario.ca/laws/statute/06r17 · checked Oct 30, 2026

   A landlord shall compensate a tenant in an amount equal to one month’s rent or offer the tenant another rental unit acceptable to the tenant if, … the landlord gives the tenant a notice of termination of the tenancy on behalf of a purchaser under subsection 49 (1) or (2) … Despite section 18, the obligation to compensate the tenant under subsection (1) remains an obligation of the landlord who gives the notice of termination of the tenancy on behalf of the purchaser and does not become an obligation of the purchaser.

   In plain wordsIf you give an N12 for the buyer, you must pay the tenant one month’s rent (or offer another unit the tenant accepts). This cost stays with you, the seller who gave the notice; it does not pass to the buyer. Count it as a selling cost.

   Source: ontario.ca/laws/statute/06r17 · checked Oct 30, 2026

8. Non-residents of Canada must report the sale

   If you are a non-resident, you must tell the CRA (Canada Revenue Agency) and get a Certificate of Compliance. Without it, the buyer usually holds back 25% of the price. For a rental home or other depreciable property (property you claim wear-and-tear on for tax), it can be up to 50%. The notice is due no later than 10 days after the sale. The federal budget of November 5, 2026 proposes 15% and 30% rates only for sellers that are corporations (for sales on or after January 1, 2027; not law yet). Individual sellers stay at 25% and 50%. Plan ahead, and check with an accountant.

   See the law 3

   Where in a taxation year a purchaser has acquired from a non-resident person any taxable Canadian property (other than depreciable property or excluded property) of the non-resident person, the purchaser, unless … a certificate under subsection 116(4) has been issued to the purchaser by the Minister in respect of the property, is liable to pay, and shall remit to the Receiver General within 30 days after the end of the month in which the purchaser acquired the property, as tax under this Part for the year on behalf of the non-resident person, 25% of the amount, if any, by which … the cost to the purchaser of the property so acquired … exceeds … the certificate limit fixed by the certificate

   In plain wordsIf you are a non-resident of Canada and the buyer does not have a CRA certificate, the buyer becomes liable to pay 25% of the price as tax on your behalf. That is why, in practice, the buyer’s lawyer holds back 25% from your closing money. With a certificate, nothing is held back up to the certificate limit.

   Source: laws-lois.justice.gc.ca/eng/acts/I-3.3/section-116.html · checked Oct 30, 2026

   the taxpayer, unless subsection (5.01) applies to the acquisition or unless after reasonable inquiry the taxpayer had no reason to believe that the non-resident person was not resident in Canada, is liable to pay, as tax under this Part for the year on behalf of the non-resident person, 50% of the amount, if any, by which … the amount payable by the taxpayer for the property so acquired … exceeds … the amount fixed in the certificate, if any, issued under subsection 116(5.2)

   In plain wordsFor depreciable property such as a rental home (property you claim wear-and-tear on for tax), the holdback rises to 50%.

   Source: laws-lois.justice.gc.ca/eng/acts/I-3.3/section-116.html · checked Oct 30, 2026

   Every non-resident person who in a taxation year disposes of any taxable Canadian property of that person (other than property described in subsection 116(5.2) and excluded property) shall, not later than 10 days after the disposition, send to the Minister, by registered mail, a notice setting out

   In plain wordsA non-resident must notify the CRA by registered mail no later than 10 days after the sale (unless you already filed before). Certificates usually take longer than a closing, so start with an accountant before you list.

   Source: laws-lois.justice.gc.ca/eng/acts/I-3.3/section-116.html · checked Oct 30, 2026

9. Your own home and an investment home are taxed differently

   For the home you live in, the Principal Residence Exemption means you usually pay little or no capital gains tax (tax on the rise in your home’s value). But you must designate the home as your principal residence on your tax return for the year you sell. If you rented it out for some years, or it is an investment home, part or all of the gain can be taxed, so check with an accountant early.

   See the law 2

   where the taxpayer is an individual, the taxpayer’s gain for a taxation year from the disposition of a property that was the taxpayer’s principal residence at any time after the date (in this section referred to as the “acquisition date”) that is the later of December 31, 1971 and the day on which the taxpayer last acquired or reacquired it, as the case may be, is the amount determined by the formula … A - (A × B/C) - D

   In plain wordsThis is the Principal Residence Exemption. A is your gain, B is “1 plus the years you designated the home as your principal residence while resident in Canada”, and C is the years you owned it. If you lived there the whole time, B/C is 1 and the taxable gain is zero. If you rented it out for some years, part of the gain can be taxed.

   Source: laws-lois.justice.gc.ca/eng/acts/I-3.3/section-40.html · checked Oct 30, 2026

   unless the particular property was designated by the taxpayer in prescribed form and manner to be the taxpayer’s principal residence for the year and no other property has been designated for the purposes of this definition for the year

   In plain wordsTo get the exemption, you must “designate” the home as your principal residence on your tax return for the year of sale, in the set form, and you cannot designate another home for the same year. If you do not report it, you can lose the exemption, so go over it with an accountant.

   Source: laws-lois.justice.gc.ca/eng/acts/I-3.3/section-54.html · checked Oct 30, 2026

10. Condo sellers should get a status certificate

    Ask your condo management office for a Status Certificate (a paper about the building’s money and upkeep). It costs $100 or less and comes within 10 days. The buyer’s lawyer reads it for your fees and any arrears, lawsuits against the building, the reserve fund (money saved for big repairs), special assessments, the rules and insurance. Knowing what is in it early lets us prepare the price and the answers.

    See the law 3

    The corporation shall give to each person who so requests a status certificate with respect to a unit in the corporation, in the prescribed form, that specifies the date on which it was made and that contains, … a statement of the common expenses for the unit and the default, if any, in payment of the common expenses; … a statement of all outstanding judgments against the corporation and the status of all legal actions to which the corporation is a party; … a statement with respect to, … the most recent reserve fund study and updates to it, … the amount in the reserve fund

    In plain wordsThe condo corporation must give a status certificate to anyone who asks. The buyer’s lawyer reads it to see your unit’s fees and any arrears, lawsuits against the building, the reserve fund (money saved for big repairs) and its study, special assessments, the budget and audited statements, the rules (declaration, by-laws, rules) and insurance.

    Source: ontario.ca/laws/statute/98c19 · checked Oct 30, 2026

    The corporation shall give the status certificate within 10 days after receiving a request for it and payment of the fee charged by the corporation for it. … The status certificate binds the corporation, as of the date it is given or deemed to have been given, with respect to the information that it contains or is deemed to contain, as against a purchaser or mortgagee of a unit who relies on the certificate.

    In plain wordsYou get it within 10 days of asking and paying the fee. The corporation is bound by what it says as of that date, so buyers can rely on it. Ordering it early can shorten the buyer’s condition period, but if it gets old the buyer’s lawyer may ask for a fresh one.

    Source: ontario.ca/laws/statute/98c19 · checked Oct 30, 2026

    The fee that a corporation may charge for providing a status certificate, including all material that is required to be included in it, shall not exceed $100, inclusive of all applicable taxes.

    In plain wordsThe fee cannot be more than $100, taxes included.

    Source: ontario.ca/laws/regulation/010048 · checked Oct 30, 2026

1. Ask your lender for a payout statement and penalty

   At closing, your lawyer pays off your mortgage and discharges it (removes it from the title). Ask your lender in writing for a payout statement and the prepayment penalty ahead of time, and put the numbers in the net proceeds calculator. Also ask whether you can port (move) the mortgage to your next home.

2. Choose your lawyer and send the paperwork

   Send your real estate lawyer the contract, ID, mortgage details and, for a condo, the status certificate. Property tax, condo fees and anything prepaid are split as of closing day in the statement of adjustments your lawyer prepares.

3. Check what stays and what goes

   Items listed as included (chattels, such as the fridge, washer or curtains) stay. Only items listed as excluded go with you. Fixtures (things attached to the walls or floors) belong to the home even if they are not listed.

4. The buyer’s final visit

   Most contracts give the buyer a set number of visits before closing. They check that the appliances work and the home is in the condition the contract describes, so finish repairs and cleaning before then.

5. Vacant possession

   If the contract says the home is to be empty, it must be empty on closing day. Remove all garbage and leftover items, and it is safest to move out the day before. If the tenant is staying, hand the lease and the tenant’s rent deposit over to the buyer.

6. Utilities and services

   Cancel or transfer hydro (electricity), gas, water, hot water tank rental, internet and security as of closing day. Give each company the final meter-reading date, and check the contract on whether rentals like the hot water tank pass to the buyer.

7. Keys, remotes and manuals

   Gather the door and mailbox keys, garage remotes, security codes, and appliance manuals and warranties for your lawyer. The keys are released to the buyer through the lawyers after the title is registered.

8. Insurance and change of address

   Cancel your home insurance only after closing is done (the home is your responsibility until then). Set up mail forwarding and update your bank, the CRA, your driver’s licence and health card.

9. Closing day

   Your lawyer receives the money, pays off the mortgage, settles the commission and costs, and sends you the rest. The keys change hands after the title is registered, so it usually wraps up in the afternoon.

Estimate What You Keep

• Toronto
• North York
• Scarborough
• Vaughan
• Thornhill
• Richmond Hill
• Markham
• Mississauga

See the area map