Cost to Sell a Condo in Toronto: A Seller's Breakdown

The short answer

• Real estate commission, typically 3.5% to 5% of the sale price combined for both agents, is the single largest cost of selling.
• HST at 13% applies on top of whatever commission you agree to, so that needs to be budgeted separately.
• Legal fees for a condo sale in Toronto usually land somewhere between a few hundred and just over a thousand dollars.
• Your lender may charge a mortgage discharge fee and, if you’re breaking your term early, a penalty that can be significant.
• Buyers will almost always ask for a current status certificate, which the seller typically pays to obtain.
• Smaller costs like staging, a pre-listing inspection and moving expenses add up but are mostly optional or negotiable.

Real estate commission: the biggest line item

When people ask about the cost to sell a condo in Toronto, commission is usually what they mean. In Ontario, commission rates are not set by any board or regulator: they’re negotiated between you and your brokerage. In practice, combined commission for the listing agent and the buyer’s agent commonly falls between 3.5% and 5% of the final sale price.

As the seller, you typically agree to pay both sides upfront in your listing agreement and the amount offered to the buyer’s agent is visible to other agents through the MLS system. It’s worth talking to more than one agent before you sign anything. Ask what’s included for that rate, whether staging or photography is covered and how the agent’s marketing plan compares to others you’re considering. Commission is one factor in choosing an agent, but it shouldn’t be the only one.

Don’t forget HST. In Ontario, 13% HST applies on top of the commission itself, so a $20,000 commission actually costs $22,600 once tax is added.

How commission is usually calculated

Commission is almost always calculated as a percentage of the final sale price, not the asking price. If your condo sells for more than expected, your commission bill rises with it. If you’re curious how this plays out on your specific numbers, a Toronto condo closing costs calculator (there are a few free ones online) can give you a rough estimate, though it’s no substitute for a conversation with your agent and lawyer.

Cost to sell a condo in Toronto: closing costs beyond commission

Commission gets most of the attention, but toronto condo closing costs include several other items that catch first-time sellers off guard. Here’s what typically shows up on a lawyer’s statement of adjustments when you sell.

Legal fees

You’ll need a real estate lawyer to handle the closing, review the agreement of purchase and sale, pay off your mortgage and transfer title. Legal fees for a straightforward condo sale in Toronto are generally in the few-hundred to just-over-a-thousand-dollar range, though this varies by firm and the complexity of the file. Always ask for a written estimate before you retain a lawyer.

Mortgage discharge fee and prepayment penalty

Your lender charges a discharge fee to release the mortgage from title, usually a modest flat fee. The bigger concern is a prepayment penalty if you’re paying off the mortgage before your term ends. This can be calculated a few different ways depending on your lender and mortgage type and it’s sometimes the largest single cost on the whole file. Call your lender directly and ask for a payout statement well before you list, so there are no surprises.

Status certificate fee

Almost every condo buyer’s lawyer will require a current status certificate from the condo corporation, which documents the building’s finances, reserve fund and legal standing. As the seller, you typically arrange and pay for this. The fee is set by provincial regulation, with a smaller additional charge if you need it on a rush basis. Your agent or lawyer can usually order it for you.

Other possible costs

• Staging, ranging from light touch-ups to full professional staging.
• A pre-listing home inspection, commonly $400 to $600 in Toronto, which some agents cover for their sellers.
• Moving costs, storage and any minor repairs identified before listing.
• Adjustments for prepaid property tax, condo fees or utilities, settled between buyer and seller at closing.

Home selling costs in Ontario outside the city

If you’re comparing notes with someone selling outside Toronto, home selling costs in Ontario follow the same basic structure: commission, HST, legal fees and mortgage-related charges. The main difference for condo sellers specifically within Toronto is the status certificate requirement, since freehold homes outside a condo corporation don’t have this cost. Land transfer tax, by contrast, is a buyer’s cost, not a seller’s, so it typically doesn’t show up on your side of the ledger at all.

Pre-construction condo closing costs in Toronto

Selling a brand-new pre-construction condo works differently from a resale and carries its own set of costs. If you’re closing on a unit directly from the builder, pre construction condo closing costs can include development levies, utility hookup charges, a share of property tax adjustments and HST adjustments, all set out in the builder’s agreement of purchase and sale. These costs are generally paid by the original purchaser at final closing and can add a meaningful amount on top of the purchase price, so read the agreement carefully or have a lawyer review it before you sign.

If instead you’re reselling your pre-construction contract before the building is even finished, known as an assignment sale, you’re dealing with a different cost structure again: assignment fees payable to the builder, HST considerations on any profit and typically a higher commission rate because assignment sales take more work to market and close. If this applies to you, it’s worth a dedicated conversation with your agent and lawyer rather than relying on general estimates.

Comparing the main costs at a glance

Cost item	Typical range	Who pays
Real estate commission	3.5% to 5% of sale price (combined)	Seller
HST on commission	13% of the commission amount	Seller
Legal fees	Low hundreds to just over $1,000	Seller
Mortgage discharge fee	Flat fee set by lender	Seller
Mortgage prepayment penalty	Varies widely, confirm with lender	Seller, if applicable
Status certificate	Set by provincial regulation, modest rush fee possible	Seller
Pre-listing inspection	Roughly $400 to $600	Seller (sometimes covered by agent)
Staging	Varies from light touch-ups to full packages	Seller (sometimes covered by agent)

What to do next

If you’re thinking about listing, here’s what to tackle this week:

• Call your mortgage lender and request a payout statement so you know your exact discharge fee and any prepayment penalty.
• Interview two or three agents and ask them to walk you through their commission rate and what it includes.
• Ask your condo corporation’s property manager how to order a status certificate and what the current fee is.
• Get a written estimate from a real estate lawyer so legal fees aren’t a surprise at closing.
• Run your numbers through a toronto condo closing costs calculator for a rough first estimate, then confirm everything with your agent and lawyer.

If you’d like help putting real numbers to your specific situation, I’m happy to walk through it with you. I’m Kirby Chan and I work with condo sellers across Ontario every week on exactly this kind of planning. Call or text me at 416-305-8008 and we’ll go through your numbers together before you make any decisions.