What you walk away with when you sell in London.
Your net proceeds are your sale price minus five things. They are the fees, HST, your lawyer, your mortgage payout and the closing adjustments.
You might be worried about a surprise at the lawyer’s office. This page lists every line first, so there is none.
The Bottom Line (Quick Answer)
- With the Ken Small Real Estate Team in London, Ontario, you see your net proceeds in writing before you list.
- Start with your sale price. Take off the fees and 13% HST, your lawyer, and your mortgage payout with any penalty.
- Then settle adjustments like property taxes. What is left is yours.
The short version
- On a $600,000 sale with us, the fees come to $35,595 with HST. That counts our $1,500 and 3%, plus the 2% we recommend for the buyer’s brokerage.
- Your bill has no padding. No admin fee. No separate marketing bill.
- Your closing lawyer sets the final payout, from the final sale price.
Who gets the money when you sell a house?
You do, once the costs below come out. Your lawyer handles the funds at closing. Everything below comes out of your sale price. What is left is yours.
What does it cost to sell a house in Ontario?
With us, it costs a $1,500 Launch Retainer up front. Then 3% on the listing side, paid only when it sells. You choose what to offer the buyer’s brokerage, and HST goes on top of all three.
Here is that math on a $600,000 sale. It is an example price, not a real sale. Your lawyer, mortgage and adjustments come off after this. On a phone, swipe the table sideways to see the totals with HST.
| Fee on a $600,000 sale | Before HST | With 13% HST |
|---|---|---|
| Launch Retainer, up front | $1,500 | $1,695 |
| Our listing side, 3%, only when it sells | $18,000 | $20,340 |
| Buyer’s brokerage, 2% recommended, your call | $12,000 | $13,560 |
| Total fees | $31,500 | $35,595 |
Commissions in Ontario are always negotiable. See our pricing and what each dollar buys.
The commission
There are two sides: our fee, and the brokerage that brings your buyer. Ours is 3%, paid only on a successful sale. What you offer the buyer’s side is your call, and we recommend 2%. HST of 13% goes on top. You see both sides in writing before you sign anything.
There is one more fee: our $1,500 Launch Retainer, paid up front. It pays for your pre-inspection, warranty, photos and launch. It is not our margin.
Your lawyer: do you need one to sell in Ontario?
Plan on one. A real estate lawyer closes your sale: the title, the transfer and the funds.
Expect their fee, 13% HST and a few small disbursements. Ask for a written quote before you list.
Paying off your mortgage
Your remaining balance goes back to the bank. Break a closed mortgage early and there may be a penalty.
- Your mortgage balance
- A small fee to discharge the mortgage
- A possible prepayment penalty. It is usually the higher of three months’ interest or the interest rate differential.
Source: Financial Consumer Agency of Canada, opens in a new tab. Ask your lender for your own number before you list.
Settling the adjustments
At closing you square up anything you prepaid or still owe: property taxes, utilities, condo fees. Small, but real.
What is NOT your cost
Your bill has no padding. No admin fee. No separate marketing bill. The only fee outside commission is our $1,500 Launch Retainer, and you see it before you sign.
Your line-by-line estimate, before you sign
Every home and mortgage is different. Before you sign anything, we build your Net Proceeds Estimate™, line by line.
It is a worksheet based on current tax rates, average local legal fees and the mortgage balance you give us. Your closing lawyer sets the final payout, from the final sale price.
Seller Take-Home Calculator: a quick number in about a minute
Want a quick number first? Put in your price and your mortgage, and watch your take-home number update.
What comes out of your sale price
| Item | What it is | Note |
|---|---|---|
| Launch Retainer | $1,500, up front | Pays for your launch. Flat, at any price. |
| Real estate commission | 3% our side, plus your choice for the buyer’s side | Paid only when it sells. Always negotiable. |
| HST | 13% | Added on top of fees and lawyer fees. |
| Lawyer fees | Your lawyer’s quote | Their fee, plus 13% HST and a few small disbursements. |
| Mortgage payoff | Your balance | Plus a small fee to discharge the mortgage. |
| Prepayment penalty | Set by your lender | Usually the higher of 3 months’ interest or the rate differential. |
| Adjustments | Varies | Property taxes, utilities or condo fees. |
HST is 13% in Ontario. Source: Canada Revenue Agency, opens in a new tab.
How our guarantees can change your number
- Your Home Sold In 30 Days or I Pay You $5,000. For a home in London, Ontario that does not qualify for the buyout. You and Ken agree a minimum sale price in writing before listing. Keep the home show-ready, and do not turn down a written offer at or above that minimum. You never have to accept an offer below your minimum. That is always your call, and saying no to one never costs you the guarantee. No accepted offer in the first 30 days, at any price? Homes listed at $350,000 or more get $5,000 at closing, as a rebate or off the commission. Under $350,000, you get $3,000 at closing instead.
- Your Home Sold Guaranteed, or I’ll Buy It. For London homes worth up to $500,000, not rural. You buy your next home from our listings, worth the same or more. Your guaranteed price is your agreed market value, less 7%, less the standard commission. Your new home closes 120 days after the guarantee is issued. A better offer beats it. Nothing is binding until an Ontario Form 100 is signed.
- The 6 Satisfaction Guarantees. Each one is backed in cash, if we miss it.
From the 30-day guarantee’s written terms, word for word: “Listed at” means the original list price in the signed Listing Agreement; a later price change does not move a home from one tier to the other. The $5,000, or $3,000, is paid at the closing of a sale accepted during your listing. That closing can come after the listing ends. No closing, no payment. The guarantee you sign with your listing agreement is the one that counts.
Total brokerage contributions at closing are capped at $1,000. They are paid as a reduction in commission, provided the team acted as your seller’s agent. See every guarantee →
Who this is not for
- If you are selling a rental or a second property, ask your accountant about tax. This page covers the costs of the sale itself.
- If you need an exact legal quote, ask your lawyer. We list the line, and they set the fee.
- If you only want the lowest fee, we are probably not your team. We do not cut the marketing that sells your home.
What sellers say about working with us
4.9 average from 14 Google reviews, as shown on our reviews page (October 2026). One seller, word for word:
★★★★★We would 100% recommend Ken Small if you are wanting to sell or purchase a home. After 65 years in the same house, my father and I had a huge task on our hands to clean it out and get it ready to put on the market. We were able to leave most of this with Ken and his team.
We honestly feel we could not have done this without him. He stepped right in and knew what needed to be done. We felt like he was on the same page with us and we had several offers to look at in less than a week. Ken is kind, personable, professional and turned a very stressful situation into a worry-free one for us once he was on the job.
Awesome job Ken, we can’t thank you enough. We second the other reviewer’s opinion that Ken goes above and beyond!
Denise F. · Seller · Aug 2024 · via Google
The honest takeaway
Anything that is not on this page does not belong on your statement.
Common questions about your net proceeds
How much will I net selling a house in Ontario?
What are closing costs when selling in London?
Do I pay HST on real estate commission?
Is real estate commission negotiable?
What happens to my mortgage when I sell?
Want the exact number, not an estimate?
The calculator gives you a close estimate. In a 15-minute call, we start on the real figure for your address, in writing.
About Ken Small
Ken Small, REALTOR®, has been a real estate agent in London since 2003. He leads the Ken Small Real Estate Team at Century 21 First Canadian Corp., Brokerage. The office is at 420 York Street, London, ON N6B 1R1. RECO #4727293. Meet the team →
Terms and conditions apply. Guarantees may not apply to all properties. Service provided by Ken Small Real Estate Team, Century 21 First Canadian Corp., Brokerage. Not intended to solicit currently listed properties.