# Home Sale Net Proceeds Calculator for Sellers

> See the cash left after commission, sales tax, legal fees, penalty and payoff, plus tax on the gain if it wasn't your main home

Sell a $950,000 home with a $380,000 mortgage in Ontario and you keep $511,325 after commission, the sales tax on it and $5,000 of other costs. The commission and its HST take $53,675 of the price, more than anything else on the list.

## Where does the sale money go?

Net proceeds are the cash left once the deal closes. The buyer's money pays off your lender first, then the agents and the lawyer, and what remains is yours. If the home wasn't your main residence, tax on the gain comes due later, and the tool shows that too.

| Line | Default amount |
| --- | --- |
| Sale price | $950,000 |
| Mortgage payoff | $380,000 |
| Commission, 5% total | $47,500 |
| HST on commission, Ontario | $6,175 |
| Legal, staging, repairs and penalty | $5,000 |
| Net proceeds | $511,325 |

## What would I keep on a $950,000 sale?

Begin with the $950,000 sale in Ontario, the $380,000 payoff and a 5% total commission. Commission is $47,500 and the HST on it is $6,175. Legal fees of $2,000 plus $3,000 for staging, repairs and moving make $5,000. Take all of that off the price and you keep $511,325.

Switch the province to British Columbia and the sales tax on the commission drops to $5,700, so you keep $511,800. Same sale, $475 more in your pocket.

Now untick the main residence box. Say $600,000 is what you paid plus buying costs and improvements, and your other income is $90,000. The capital gain is $297,500, the tax on it is $65,405, and your net proceeds fall to $445,920. That $65,405 gap is why residence status matters so much.

## Do I have to report the sale if it was my home?

Yes. Selling your main home usually doesn't leave you with a tax bill, but the paperwork still counts. The CRA explains on its page about [reporting the sale of a principal residence](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/principal-residence-other-real-estate.html) that you report the sale on Schedule 3 and designate the home on Form T2091(IND) in the year you sell. Skip that step and the exemption isn't automatic, and a late designation can carry a penalty.

So even when the calculator shows no tax because the box is ticked, set a reminder for next tax time. The sale is yours to report.

## What do sellers usually get wrong?

The nastiest surprise is a prepayment penalty on a mortgage that isn't up for renewal. Type it into the penalty field, or your total will come out too high. Sellers also forget that the rate an agent quotes leaves out sales tax.

The calculator doesn't cover the cost of your next home, the moving truck or rent between closings. It doesn't model partial years as a principal residence, or the tax result of renting out part of the home. And a rough guess at the cost basis is easy to get wrong, since improvements and buying costs both count. Keep the receipts.

Selling at a loss, or owning the home with someone else? Your result will differ from a single seller's.

## Which calculators help next?

To try other commission rates, the [real estate commission calculator](https://tax-services.ca/calculators/real-estate/realtor-commission) lists totals from 4% to 6%. A taxable gain can be modelled further in the [capital gains tax calculator](https://tax-services.ca/calculators/income-tax/capital-gains-tax). Breaking a mortgage early costs money, and the [mortgage penalty calculator](https://tax-services.ca/calculators/mortgage/mortgage-penalty) puts a number on it. If you're also buying, the [closing costs calculator](https://tax-services.ca/calculators/real-estate/closing-costs) covers the cash needed on that side.

## Sources, and how we checked them

Sales tax on the commission uses the rate for the province you pick. Tax on a capital gain uses the 2026 tax tables built into the calculator, applied on top of the other income you enter. Legal fees, staging and moving are planning figures, so swap in real quotes. This website has no link with any government body, and an accountant should confirm any gain before you file.

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Source: https://tax-services.ca/calculators/real-estate/home-sale-proceeds
Last updated: 2026-10-09
Independent information site. Not affiliated with the CRA. No services, no guarantee of accuracy. See https://tax-services.ca/disclaimer