The number that matters when you sell isn't the sale price. It's what lands in your account after everyone else has been paid. In BC, the gap between the two is usually bigger than sellers expect. Commission comes with GST, a fixed-rate mortgage can carry a five-figure penalty, and a second home or rental can owe tax. This calculator takes the sale price and works through each deduction in the order your lawyer will.
A typical sale, line by line
The default is a $1,150,000 Burnaby townhouse completing November 30, 2026. It has $520,000 left on a 5.19% fixed mortgage with 23 months remaining in the term.
| Item | Amount |
|---|---|
| Sale price | $1,150,000 |
| Commission (7% / 2.5%) | −$33,250 |
| GST on commission | −$1,663 |
| Lawyer or notary | −$1,200 |
| Mortgage payout | −$520,000 |
| Prepayment penalty (estimated) | −$9,967 |
| Discharge fee | −$300 |
| Property tax and strata adjustments | +$316 |
| Staging, repairs and moving | −$5,000 |
| You walk away with | $578,937 |
That's about 50% of the sale price. Of the $571,063 that goes elsewhere, $520,000 simply repays your own mortgage. The true cost of selling is the other $51,063, about 4.4% of the price. Commission and GST are the biggest part of it, and the mortgage penalty comes second.
Commission and GST
In BC, the seller pays the commission, and it's split between the listing brokerage and the buyer's brokerage. There's no standard rate, and competition law prevents anyone from telling you there is. The most common structure in the Lower Mainland is still 7% on the first $100,000 and 2.5% on the balance. On $1,150,000 that's $33,250, or about 2.9% of the price. Variations such as 3% on the balance, or a flat percentage, are common too.
Add 5% GST. Residential commissions were left out of BC's October 2026 PST expansion, which applies only to non-residential real estate services, so GST is the only tax on the commission.
The comparison table in the calculator shows how much each structure changes your net. On the default sale:
- 7% / 3% costs about $5,500 more than 7% / 2.5%, including GST.
- A 3% flat rate costs about $1,300 more.
- 3.5% flat costs about $7,350 more.
The cooperating commission offered to buyers' agents is usually around half. Offering well below the going rate can mean fewer showings, and in a market with more listings than buyers, that matters.
The mortgage payout, and the penalty that surprises people
Your lawyer gets a payout statement from your lender and pays off the mortgage on completion day. The statement includes the balance, interest to the payout date, any prepayment penalty, and a discharge fee, which is often a few hundred dollars.
Variable-rate mortgages usually charge three months' interest.
Fixed-rate mortgages charge the greater of three months' interest and the interest rate differential (IRD). The IRD compensates the lender for the difference between your rate and what it can lend at now, for the time left in your term.
On the default mortgage, three months' interest is about $6,750. A simple IRD at a 4.19% comparison rate is about $9,970.
Many big banks calculate the IRD using posted rates less your original discount, which can make it much larger than a simple estimate. Get the actual quote from your lender, or run it through our mortgage penalty calculator, which uses that method.
There are ways to reduce or avoid it:
- Port the mortgage to your next home, if your lender allows it.
- Let the buyer assume it, if the lender allows that.
- Make a lump-sum prepayment within your annual allowance before you break it. That can shrink the balance the penalty is calculated on.
- Time the sale near your renewal date.
Adjustments
Property tax. Most BC municipalities bill annual property tax due in early July. From completion day, the tax is the buyer's.
- If you complete after you've paid the year's tax, the buyer reimburses you for the rest of the year, and it's a credit to you.
- If you complete before the July bill, you owe the buyer for the days you owned the home, and it's a charge to you. The buyer then pays the full bill.
The default November 30 completion gives the seller a credit of about $302.
Strata fees. Strata fees you've prepaid for the month of completion are adjusted the same way. Utilities billed by the municipality, such as water, sewer and garbage, may also be adjusted.
Legal and other costs
- Lawyer or notary. A sale typically costs around $1,000 to $1,500 in legal fees, including disbursements and both GST and PST on the legal fee. The lawyer prepares the transfer, pays out the mortgage, and deals with the discharge.
- Strata sellers. You'll pay small statutory fees for the Form B information certificate and the Form F payment certificate. You may also owe a move-out fee. Any special levy approved before your sale is usually yours to pay, unless the contract says otherwise.
- Getting ready. Cleaning, touch-up painting and minor repairs usually cost a few thousand dollars. Staging, if you use it, typically costs $2,000 to $5,000 for a condo and more for a house.
Tax on the sale
Principal residence. If the home was your principal residence for every year you owned it, there's no tax on the gain. You still need to report the sale and designate the property on Form T2091 with your return. You'll also need to have owned it for at least 365 days, or the federal flipping rule removes the exemption.
Rental or second home. Half of the gain is added to your income for the year of sale. Tick the box in the calculator to estimate it, and see the capital gains calculator for the full treatment, including a home you moved out of.
Within two years of buying. BC's home flipping tax can also apply. See the flipping tax calculator.
Non-residents. If you're not a resident of Canada, the buyer's lawyer must hold back part of the price until CRA issues a clearance certificate under section 116. That's commonly 25% of the price, and more for some rental property. It isn't a cost, but it can delay a large part of your money for weeks or months. Apply for the certificate as soon as you have an accepted offer.
How the money moves
- Subject removal. When subjects are removed, the buyer's deposit, usually around 5%, goes into trust with a brokerage.
- Before completion. In the days before completion, your lawyer gets the payout statement from your lender and prepares the statement of adjustments.
- Completion day. Once the buyer's funds arrive and the transfer is registered at the Land Title Office, your lawyer pays out your mortgage and any other charges on title. The commission is usually paid from the deposit held in trust, with any surplus sent to your lawyer.
- Your money. The balance usually reaches you on completion day or the next business day, after funds clear.
Possession typically follows a day or so later.
If you're buying your next home
Line up the dates so your sale completes before, or on the same day as, your purchase. If the purchase must complete first, a bridge loan from your lender covers the down payment for the gap. It usually runs for a few weeks, with interest and a setup fee. Add that under "Other."
If your mortgage is portable, porting it to the new home can avoid the penalty entirely. Ask before you sign anything.
Your net proceeds from this sale are the down payment for the next purchase. Carry the number into our closing cost calculator and affordability calculator.
Pricing to your number in 2026
With more listings in most of the Lower Mainland and prices below the 2022 peak, buyers compare carefully. Homes priced to current comparable sales sell. Homes priced to the seller's target often sit.
Start from the other end. Use the "What price do I need?" panel to find the sale price your target requires, then compare it with what similar homes have actually sold for. Our home value estimator is a quick first check.
If the price you need is well above the market, it's better to know that before you list than after two price reductions.
Mistakes we see when sellers estimate their proceeds
Forgetting GST on the commission. On a typical Lower Mainland sale, that's another $1,500 to $2,500.
Assuming the penalty is three months' interest on a fixed mortgage. The IRD is often larger, and bank methods can make it much larger.
Using the balance from the last statement. Interest runs to the payout date, and the payout statement is what counts.
Not reporting the sale of a principal residence. It's tax-free, but it still needs designating on your return.
Counting on the money on completion day for a same-day purchase without talking to both lawyers about timing.
Pricing to what you need rather than what the market pays.
Questions people ask us
How much does it cost to sell a house in BC?
Apart from paying off your mortgage, usually around 3.5% to 5% of the price. Commission plus GST is the biggest part: about $34,900 on a $1,150,000 sale at 7% on the first $100,000 and 2.5% on the rest. Legal fees add about $1,000 to $1,500. A fixed-rate mortgage penalty, preparation and moving costs can add more.
What is the standard real estate commission in BC?
There's no standard rate, and commission is always negotiable. A common Lower Mainland structure is 7% on the first $100,000 and 2.5% on the balance, split between the listing and buyer's brokerages, plus 5% GST.
Is there PST on real estate commission in BC?
Not on residential sales. BC's PST expansion on October 1, 2026 covers non-residential real estate services only. Residential commissions carry 5% GST.
How much is the penalty for breaking my mortgage when I sell?
For a variable rate, usually three months' interest. For a fixed rate, the greater of three months' interest and the interest rate differential. Bank IRD formulas that use posted rates can make that much higher. Ask your lender for a payout quote, or use our penalty calculator.
Do I pay tax when I sell my house in BC?
Not if it was your principal residence for the whole time you owned it and you held it at least a year. You still report it on Form T2091. Rentals and second homes are taxed on half the gain, and sales within two years may trigger BC's home flipping tax.
When do I get the money from selling my house?
Usually on completion day or the next business day. Your lawyer pays out the mortgage and other charges, the commission is typically paid from the deposit held in trust, and the balance is sent to you.
Who pays the property tax when a house is sold mid-year?
Each side pays for the days they owned it. The adjustment on the statement of adjustments evens it out: the buyer reimburses you if you've already paid the year's tax, or you credit the buyer if you haven't.
What price do I need to sell for to walk away with a certain amount?
Use the "What price do I need?" panel. It works backwards through commission, GST, legal fees, your mortgage payout, penalty and adjustments to find the sale price that leaves you with your target.
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