What closing costs does the seller have to pay in Ontario?

As an Ontario home seller your main closing costs are real estate commissions (paid from the sale proceeds), legal fees and disbursements for your lawyer's work, and the cost of discharging your existing mortgage, which may include a prepayment penalty if you break the term early.

You will also be responsible for property tax and utility adjustments calculated to the closing date — if you have overpaid property taxes, you get a credit; if you have underpaid, you owe the difference. Condominium sellers may owe outstanding common-expense fees or status certificate costs. Unlike buyers, sellers do not pay Ontario land transfer tax.

Home staging, professional photography, and pre-listing repairs are marketing costs that come before closing but should be factored into your net proceeds calculation. Your lawyer will prepare a final statement of adjustments showing exactly where every dollar goes.