SUE · SMART SOLD
Estimate what your sale could leave you
Use your own estimates. Adjust the sale price and costs to compare your options.
CAD · whole dollars. Enter 0 if a cost does not apply.
Include applicable taxes, service and legal fees, and mortgage fees or penalties not already included above. Count each cost once.
Enter all five amounts to see your estimate.
Planning estimate only. Includes entered preparation and moving costs even if already paid; it is not the cash released at closing, a tax calculation, a valuation or mortgage approval.
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Start with the money you may have left.
Subtract the mortgage payout, other secured debt, selling costs, preparation and moving expenses from the sale price. Note when each bill is due, since some are paid before closing, and count each cost once. This is a planning estimate, not a tax calculation or a budget approved by your lender.
A higher sale price doesn’t always mean more left over.
Two hypothetical plans for the same home, in Canadian dollars; neither is a price forecast or fee quote. Plan B assumes C$30,000 more in sale price, C$30,000 more in preparation and C$2,000 more in selling and closing costs. The result is C$2,000 less for the next step. Selling and closing costs include assumed service fees, applicable taxes and mortgage-related fees. Replace each assumption with property evidence and written estimates; count each cost once.
Swipe sideways to see every column. With a keyboard, focus the table and use the arrow keys.
| Item · C$ | A | B |
|---|---|---|
| Assumed sale price | 1,200,000 | 1,230,000 |
| Debt repayment | -650,000 | -650,000 |
| Selling and closing costs | -50,000 | -52,000 |
| Preparation | -15,000 | -45,000 |
| Moving | -5,000 | -5,000 |
| Remaining after these costs | 480,000 | 478,000 |
Keep the planning total separate from the closing payout.
In plan A, suppose the C$15,000 preparation bill and C$5,000 moving bill were paid before closing. After the C$650,000 debt repayment and C$50,000 closing costs, the sale would release C$500,000 at closing under these assumptions. Subtracting the C$20,000 already spent gives the C$480,000 planning balance. Do not deduct those paid bills a second time from the lawyer’s payout. Your lawyer confirms the actual statement and adjustments; this is not a tax-profit calculation.
Get the amounts confirmed.
Ask your lender for a dated payout estimate, including discharge and prepayment charges. Check the fees and taxes in your agreements and get quotes for legal work, preparation and moving. Your tax adviser can address your own sale. Budget separately for the next purchase, ongoing costs and emergency savings; Sue can help you compare the property options around that plan.
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