Seller Net Sheet

Your net is the sale price minus your mortgage payout, the real estate commission plus 5% GST on it, legal or notary fees, and any penalty, property tax owing or other adjustments. Put your own numbers into the calculator above for a figure to the dollar, then confirm it with the payout statement from your lender and the statement of adjustments from your lawyer.

The main seller costs are the commission plus GST, your lawyer or notary fee, paying out your mortgage (and any prepayment penalty for breaking it early), and adjustments for property tax and strata fees. Staging, repairs and moving are optional costs you choose. The seller does not pay property transfer tax.

Commission in BC is negotiable between you and your brokerage; there is no standard or legislated rate. It is usually written either as a tiered rate (one percentage on the first $100,000 and a lower one on the balance) or as a single flat percentage of the sale price. This calculator handles both, and the tiered default it opens with is only a starting point to edit.

Yes. GST of 5% is charged on the real estate commission, so a commission of $45,500 costs $47,775 once GST is added. The calculator adds it automatically.

No. Property transfer tax is paid by the buyer when the title is registered in their name. It does not come off your sale proceeds.

If the home was your principal residence for every year you owned it, the gain is generally not taxable under the principal residence exemption. You still have to report the sale on your tax return (Schedule 3, with the designation on Form T2091). A gain on a rental or investment property is taxable. Confirm your situation with an accountant before you sell.

The BC home flipping tax, in force since January 1, 2025, applies to income from selling a home you owned for less than 730 days. The rate is 20% if you sell within 365 days and declines to 0% at 730 days. It also covers presale contracts assigned within 730 days. If you lived in the home as your principal residence for at least 365 days in a row you can deduct up to $20,000, and life events such as divorce, death, illness, a job relocation or job loss are exempt. Confirm with an accountant whether it applies to you.

Under the federal residential property flipping rule, profit on a home you owned for less than 365 days is taxed as business income rather than as a capital gain. Exemptions exist, for example for certain life events. Ask an accountant before you list.

Possibly, if you break your mortgage before the term ends. On a variable mortgage the penalty is commonly three months of interest. On a fixed mortgage it is commonly the greater of three months of interest or the interest rate differential (IRD), which can be much larger. Ask your lender for a payout statement, and ask whether the mortgage can be ported to your next home instead.

On the completion day. The buyer’s funds go to your lawyer or notary, who pays out your mortgage and settles the adjustments, then releases the balance to you.

They are split between buyer and seller as of the adjustment date. If you have prepaid past that date you get a credit back; if anything is owing up to that date, it comes off your proceeds. Your lawyer shows every line on the statement of adjustments.

Negotiate the commission and the services that come with it, ask your lender about porting your mortgage to avoid a penalty, check your holding period against the flipping rules before you list, and price the home right the first time. Use the calculator to see what each change is worth to you in dollars.