01 START WHERE YOU ARE
You can learn before you decide.
You do not need a moving date to understand your options.
A move is taking shape
Work through representation, offers and the closing checklist.
Go to this sectionA home carries more than a price
It holds routines, memories and plans. Selling can bring excitement, relief, uncertainty or all three. This guide gives you a calm starting point: what to think about, what to ask and what happens next.
Use the parts you need
Read the roadmap first. Then follow the questions that matter to you. Keep the worksheets for your own planning, or bring them to a conversation with your real estate, mortgage, legal or tax professional.
02 THE BIG PICTURE
A home sale in six stages.
The exact dates vary. The main decisions are easier to follow when you can see the whole journey.
- 01
Explore
Identify why you might move, what would improve your life and what would make staying worthwhile.
- 02
Plan
Understand the money, choose your professional team and decide how a sale could connect with your next home.
- 03
Prepare
Gather accurate property information, prioritise the work and agree on presentation and pricing.
- 04
Launch
Make the home available to buyers, manage showings and review the response against the plan.
- 05
Agree
Review the complete offer, negotiate where appropriate and track every condition and deadline.
- 06
Complete
Meet the agreement's obligations, coordinate the move and let the lawyers complete the transfer and closing funds.
03 YOUR NEXT HOME
Sell first or buy first?
Start with the risk you can comfortably manage, then build the sequence around it.
| Approach | What it helps you know | What to plan for |
|---|---|---|
| Sell first | Your agreed sale price and sale closing date. | Finding your next home in time, or arranging temporary housing and storage. |
| Buy first | Where you are moving and the purchase closing date. | Qualifying for the financing and carrying the homes if the sale takes longer or brings less than expected. |
| Coordinate both | A plan that tries to align the two transactions. | Dates and conditions are negotiated. Either transaction may create a gap that needs a backup plan. |
Check three gaps
The cash gap: when is money required? The housing gap: where will you stay? The timing gap: what happens if a closing is delayed? Ask your lender and lawyer to help test the plan before you commit.
Ask about your existing mortgage
Discuss payout costs and whether moving the mortgage to another property is possible. Porting and bridge financing require lender approval; include their conditions, timing and costs in your decision.
Official sources for this section
- Seller's checklist RECO
- Discharging a mortgage Financial Consumer Agency of Canada
- Mortgage prepayment penalties Financial Consumer Agency of Canada
04 BEFORE YOU SIGN
Know who represents you.
A listing agreement is a contract for services and representation. Give yourself time to understand it.
Fees deserve a clear conversation
Brokerage fees are negotiated. There is no amount fixed or approved by RECO, a government authority or a real estate board. Compare the written services and obligations alongside the fee.
If multiple representation comes up
Multiple representation can arise when the same brokerage under brokerage representation, or the same designated representative, represents clients with competing interests. It requires written disclosure and written consent from every affected client. The representative cannot advise you on what price to offer or accept. You can decline; ask about alternatives and independent legal advice.
- Who represents me: the brokerage or named designated representative(s)?
- Which services are included, and which have an additional cost?
- What compensation will I pay, how is it calculated, and when can it become payable?
- Am I offering any contribution toward a buyer's brokerage fees? How is that recorded?
- When does the agreement expire, and what does it say about ending it?
- Is there a holdover clause that could create a fee obligation after expiry?
Official sources for this section
05 FOLLOW THE MONEY
What could be available after a sale?
An imaginary $1,000,000 sale shows how to turn a headline price into a planning figure.
ILLUSTRATION ONLY - NOT A QUOTE OR A FORECAST
Illustration only · Canadian dollars
- Sale price
- $1,000,000
- Mortgage balance to repay, excluding fees below
- − $520,000
- Home equity line of credit payout
- − $25,000
- Total agreed brokerage compensation allowance
- − $45,000
- Legal costs allowance
- − $2,500
- Lender fees and prepayment penalty allowance
- − $5,000
- Closing adjustments allowance
- − $1,500
- Estimated amount remaining at closing
- $401,000
- Preparation costs paid separately
- − $5,000
- Moving and storage allowance
- − $3,000
- Planning amount after these sale and moving costs
- $393,000
Every cost is invented for this example. Applicable sales taxes are included in the cost allowances. The brokerage allowance includes any seller-agreed contribution to buyer brokerage fees; it is not a customary fee or recommendation.
Assumes no other secured debts or liens. Adjustments can be credits or debits; this example assumes a debit. The mortgage and credit-line amounts exclude the separate lender fees shown here.
The result is before any applicable income tax and before the costs of buying the next home. It is a cash estimate, not a calculation of profit or taxable gain.
Official sources for this section
- Selling a home Financial Consumer Agency of Canada
- Discharging a mortgage Financial Consumer Agency of Canada
- Mortgage prepayment penalties Financial Consumer Agency of Canada
06 PREPARE WITH PURPOSE
Start with what a buyer needs to understand.
The aim is a cared-for home that is easy to see, move through and evaluate.
Make it work
Identify leaks, broken fittings, damaged surfaces and other issues. Ask the right professional to assess concerns before choosing a cosmetic fix.
Make the space clear
Clear walking paths and reduce visual clutter. Let each room show a useful purpose. A manageable arrangement is more valuable than an exhausting daily routine.
Make the basics feel cared for
Clean carefully, address sources of odours, tidy entrances and check lighting. Use the furniture and belongings you already have where they work.
Pause before a large project
Discuss the likely buyer, budget, completion risk and alternative options before replacing a kitchen or starting extensive renovations. Money spent does not guarantee money recovered.
Work within your real life
Choose a preparation budget and a realistic amount of time. You can sell a home with imperfections; your plan should account for its condition honestly. Ask how presentation, price and disclosures work together.
07 BUILD THE PROPERTY FILE
A clear story starts with accurate facts.
Gather information once so questions can be answered with evidence.
Describe only what you can support
Check listing facts, measurements and claims. For a basement apartment, added room or major renovation, ask what records support any claim about approvals or permitted use.
Raise concerns early
Tell your agent and lawyer about defects and past problems. Some concealed defects must be disclosed; the legal rules are specific. Do not cover up a problem or guess whether disclosure is required. Ask for legal guidance.
Know where information will go
Before completing a property information statement, ask whether it is for your agent's use or is intended for buyers.
- Property-tax information, ownership details and any survey you hold.
- Renovation dates, invoices, permits, warranties and service records available to you.
- A precise list of what stays, what goes and what is rented or financed.
- Relevant agreements, such as equipment rentals, leases or shared-access arrangements.
- For a condo: management contact, current fees, parking and locker documents, and status-certificate arrangements.
Official sources for this section
- Seller's checklist RECO
- Facts a seller has a legal obligation to disclose RECO
- Property information statements RECO
- Status certificates Condominium Authority of OntarioRelated official resource
08 SET A PRICING PLAN
Ask what the evidence supports.
The most useful pricing conversation explains both the proposed number and the reasoning behind it.
Recent completed sales
What did similar homes actually sell for? Compare location, property type, condition, size and timing before drawing conclusions.
Current alternatives
What could a buyer choose today within a similar budget? An asking price is one seller's position; it does not tell you the final sale result.
Your home's differences
Which features help its appeal? Which limitations require a thoughtful explanation or a different price expectation?
Agree on a review point
Before launch, decide when to discuss the response. Look at the quality of enquiries, showing feedback, competing properties and any offers together. A quiet period is a reason to investigate the whole plan.
Separate the price from your needs
Your next-home budget matters to your decision to sell. It cannot, by itself, establish what a buyer will pay. Work with a range of possible outcomes and decide what each would mean for you.
09 THE LAUNCH PLAN
Make the home easy to understand.
A useful marketing plan answers a buyer's questions and tells you what work is actually included.
Presentation
Agree on the preparation and photography plan. Discuss whether a floor plan, video or other material would help explain this property, and confirm the cost of any service.
Information
Help buyers understand the layout, relevant features, inclusions and practical details. Review the listing for accuracy before it is published.
Distribution
Ask where the home will appear, how enquiries will be handled and whether open houses or additional promotion are part of the agreed plan.
Communication
Agree on how you will receive updates, which feedback matters, who responds to urgent questions and when you will review progress together.
- Who is doing each task?
- What needs my approval?
- What is included in the agreement?
- What would cost extra?
Official sources for this section
10 WHILE LIFE CONTINUES
Create a showing routine you can live with.
A plan for the household makes the listing period easier to manage.
Before the first visit
Discuss booking arrangements, access, work schedules, pets and household needs. Ask how keys are controlled and how the property is secured after a visit.
Your short reset
Clear the main surfaces and walking paths, tidy the entry, check bathrooms and put laundry away. Keep one box for everyday items you need to move quickly.
Protect what is personal
Store valuables, medication, financial documents and identifying information securely. Discuss any cameras or recording devices with your agent before showings.
Make feedback useful
Look for repeated, specific observations. Ask whether a concern can be addressed through presentation, clearer information, access or a pricing discussion. One visitor's preference is only one piece of information.
Official sources for this section
- Preparing for an open house RECO
- How a landlord can end a tenancy; right of entry Landlord and Tenant BoardRelated official resource
11 WHEN AN OFFER ARRIVES
Read the whole offer.
Price matters. So do the responsibilities, uncertainty and timing you would accept.
| Review | Question to ask |
|---|---|
| Price and proceeds | What would this leave after my costs? |
| Deposit | How much, when is it due, and who holds it? |
| Conditions | What must happen, by when, and what does the wording allow? |
| Closing date | Does it work with my next move and financing? |
| Inclusions and obligations | What stays, what is excluded, and what am I agreeing to do? |
| Response deadline | When must my response be communicated, and do I need advice first? |
Make an informed response
Review your options with your agent and lawyer. You may accept, reject or negotiate. Changing terms requires agreement; do not assume a requested change has been accepted.
When offers compete
Your agent must disclose the number of competing written offers to the buyers who submitted them. Sharing offer contents requires your written direction, and personal or identifying information cannot be shared.
Official sources for this section
- Selling a home Financial Consumer Agency of Canada
- Dealing with competing offers RECO
- Making an offer to purchase a home CMHC
12 FROM AGREEMENT TO HANDOVER
Keep the finish organised.
The agreement becomes your working checklist. Put the people, tasks and dates in one place.
- 01
Right after acceptance
Send the full agreement to your lawyer. Confirm the deposit status through the appropriate professionals, note the condition deadlines and ask who tracks each obligation.
- 02
As closing approaches
Coordinate payout information, signing appointments and documents. Arrange the move, any condo elevator booking, utility changes and your insurer's instructions.
- 03
Before handover
Complete agreed work and keep receipts. Leave the agreed inclusions, remove items as required, prepare keys and remotes, and report any new damage or issue promptly.
- 04
At closing and afterwards
Follow your lawyer's directions for possession and release of funds. Keep the closing statement and sale records for your tax return and future reference.
Official sources for this section
- Discharging a mortgage Financial Consumer Agency of Canada
- Principal residence: reporting, exemption and changes in use Canada Revenue Agency
- Making an offer to purchase a home CMHC
13 WHEN YOUR HOME NEEDS A TAILORED PLAN
Flag the details early.
A few circumstances can change the documents, timing or advice you need.
Condominium
Ask about a current status certificate and supporting documents. These describe the unit and corporation, including financial information and rules. Confirm parking, locker and fee details.
Tenanted property
Listing or selling does not by itself end a tenancy. Rules govern entry, notice and possession. Ask a lawyer or licensed paralegal about your specific plan before promising a vacant home or issuing notices.
Estate, separation or another owner
Ask your lawyer who must authorise the sale, which documents are required and whether any issue could affect timing. Share this context before choosing a closing date.
Rental use or tax questions
A principal-residence sale must be reported to the CRA even if an exemption removes the taxable gain. Rental or business use, residency and how long you owned the property can change the result. Selling soon after purchase can trigger special rules. Ask a tax professional before counting on a tax exemption.
Official sources for this section
- Status certificates Condominium Authority of OntarioRelated official resource
- How a landlord can end a tenancy; right of entry Landlord and Tenant BoardRelated official resource
- Principal residence: reporting, exemption and changes in use Canada Revenue Agency
14 WORKSHEET 01
Your preparation plan.
Choose a small number of useful actions. Add a cost, an owner and a target date.
Your planning space. Entries stay on this page and are not sent to Prashanth or saved by this website. Use the downloadable PDF to keep a copy of your plan.
| Action | Discuss first? | Budget | Who / when |
|---|---|---|---|
Start with Cleaning, easy organisation and gathering property documents.
Discuss first Defects, repairs, expensive work and changes to attached fixtures.
Consider only if useful Extra staging, furniture purchases and cosmetic projects.
15 WORKSHEET 02
Your estimated proceeds.
Use dated estimates, include applicable tax in costs and revisit the sheet when information changes.
Your planning space. Entries stay on this page and are not sent to Prashanth or saved by this website. Use the downloadable PDF to keep a copy of your plan.
Avoid double-counting: if a payout or brokerage estimate includes an item, do not subtract it again. This worksheet does not calculate taxable gain, affordability or the costs of your next purchase.
Official sources for this section
- Selling a home Financial Consumer Agency of Canada
- Discharging a mortgage Financial Consumer Agency of Canada
- Mortgage prepayment penalties Financial Consumer Agency of Canada
- Principal residence: reporting, exemption and changes in use Canada Revenue Agency
16 WORKSHEET 03
Compare your offers.
Complete this with your agent. Have legal wording and uncertain obligations reviewed before deciding.
Your planning space. Entries stay on this page and are not sent to Prashanth or saved by this website. Use the downloadable PDF to keep a copy of your plan.
| Compare | Offer A | Offer B |
|---|---|---|
| Offered price | ||
| Estimated proceeds | ||
| Deposit amount and deadline | ||
| Conditions and deadlines | ||
| Closing / possession date | ||
| Inclusions / exclusions | ||
| Extra work or obligations | ||
| Response deadline | ||
| Questions still to resolve |
A larger deposit or fewer conditions does not guarantee completion. Assess the full agreement and your circumstances.
Official sources for this section
17 PLAIN ENGLISH
The words you will hear.
These short explanations help you follow the conversation. The actual contract controls your obligations.
- Listing agreement
- Your contract with a brokerage for selling services and representation.
- Comparable sale
- A sale used as a reference when discussing a property's likely market value.
- Offer / agreement of purchase and sale
- The proposed terms of a purchase; acceptance can create a binding contract.
- Condition
- A contract provision that sets a requirement, deadline and consequences. Read the exact wording.
- Deposit
- Money delivered under the purchase agreement. Its amount, timing, holder and treatment depend on the agreement and law.
- Firm sale
- A sale with no outstanding conditions of the kind that must be fulfilled or waived. Closing obligations still remain.
- Inclusions / exclusions
- Items the agreement says will stay with the property or be left out of the sale.
- Closing
- Completion of the transaction, when the legal transfer and closing funds are handled.
- Adjustment
- A credit or debit that allocates items such as prepaid property taxes between the parties.
- Mortgage discharge
- Removal of the lender's registered security from the property after the required steps are completed.
- Net proceeds
- The money remaining from the sale after the relevant payouts and deductions.
Official sources for this section
- Signing a contract with a real estate brokerage RECO
- Discharging a mortgage Financial Consumer Agency of Canada
- Making an offer to purchase a home CMHC
18 YOUR NEXT MOVE CAN BE A QUESTION
You set the pace.
A good starting point is understanding what a move would mean for you.
Questions worth bringing
What would staying look like? What could a sale make possible? What should I learn before spending money on the house? Which part of the process feels uncertain?
Start with one conversation
Bring your questions and, if useful, your worksheets. Tell Prashanth whether you are simply learning, planning for the future or considering a move. That context helps shape the conversation.
Keep learning
The companion Buyer's Guide explains the purchase journey, budgeting, viewing homes and the steps toward possession. It can help you connect both sides of your next move.
The Pinder Singh Team
Royal LePage Meadowtowne Realty, Brokerage
This is general educational information for Ontario, not individual legal, mortgage or tax advice. Your property, contracts and circumstances determine what applies. Confirm current requirements with the appropriate professionals before acting. This guide complements the official RECO Information Guide.
Official sources for this section
19 KEEP THESE LINKS
Go straight to the source.
Official resources checked for this edition in October 2026. Use the live pages for current information.
Working with an agent and selling
- RECO Information Guide RECO
- Signing a contract with a real estate brokerage RECO
- Multiple representation RECO
- Seller's checklist RECO
- Facts a seller has a legal obligation to disclose RECO
- Property information statements RECO
- Preparing for an open house RECO
- Dealing with competing offers RECO
- RECO Information Guide: residential edition RECO
- Making an offer to purchase a home CMHC
Money and mortgages
- Selling a home Financial Consumer Agency of Canada
- Discharging a mortgage Financial Consumer Agency of Canada
- Mortgage prepayment penalties Financial Consumer Agency of Canada
Your property's circumstances
- How a landlord can end a tenancy; right of entry Landlord and Tenant BoardRelated official resource
- Status certificates Condominium Authority of OntarioRelated official resource
- Principal residence: reporting, exemption and changes in use Canada Revenue Agency
The example figures and worksheets are original planning tools. They are not appraisals, quotes, commission schedules or predictions. Local market evidence and individual professional advice should be checked when you are ready to act.
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