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Closing Costs in Ontario 2026 | Buyer & Seller Guide
Dated: August 8 2025
Views: 3712
Seller Closing Costs in Ontario
Ontario homeowners should calculate their estimated net proceeds before listing rather than simply subtracting the outstanding mortgage from the expected sale price.
Depending on the property and mortgage, seller closing expenses can include real estate commission, HST on real estate services, legal fees, mortgage discharge costs, prepayment penalties and closing adjustments.
Real Estate Commission
Real estate commission in Ontario is negotiable. There is no single mandatory commission rate for residential home sales.
HST applies to taxable real estate services in Ontario, so sellers should include HST when estimating their total selling expenses.
Seller Legal Costs
Your real estate lawyer generally handles the legal closing, including reviewing closing documents, responding to requisitions, paying out registered mortgages and completing the transfer of title.
Legal fees and disbursements vary, so sellers should obtain an estimate directly from their lawyer.
Mortgage Penalties and Discharge Costs
If your mortgage will be paid out before the end of its term, your lender may charge a prepayment penalty. The amount depends on the mortgage product, lender and terms of your contract.
Before listing, consider requesting an estimated mortgage payout statement and asking your lender whether your mortgage can be ported to your next property.
Closing Adjustments
Property taxes, condominium common expenses and certain other prepaid or outstanding amounts may be adjusted between the buyer and seller as of the closing date.
Seller Planning Tip: When estimating what you will actually receive from your sale, account for commission, HST, legal expenses, mortgage penalties or discharge costs and closing adjustments.
Preparing Your Home Before You Sell
Closing costs are only one part of planning a successful sale. Before spending money on renovations or preparing your property for market, it can be helpful to determine which improvements are likely to matter most to buyers.
Read our How to Prepare Your Milton Home for Sale guide for a practical pre-listing checklist covering repairs, decluttering, staging, curb appeal and presentation.
If timing is also part of your decision, see our Best Time to Sell a Home in Milton Ontario guide.
Erik Taylor
Erik Taylor is an award winning Realtor serving your Milton, Mississauga and GTA real estate needs. Call Erik Taylor today for a FREE in home evaluation for consultation! Awards: Ranked Top 1% of ....
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Toronto Real Estate Board (TRREB); All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating