Selling your home is a big decision, and if you’re like most homeowners, your top priority is maximizing your profit. But between real estate commissions, closing costs, and buyer negotiations, it’s easy to walk away with far less cash than expected.
If you want to keep more money in your pocket when selling your house in Ontario, here’s what you need to do.
Skip the Realtor Fees
Real estate commissions can take a huge bite out of your profits. In Ontario, agent fees typically range between 4-6% of the final sale price. On a $700,000 home, that’s up to $42,000 lost in commissions alone.
How to keep that money instead:
- Sell your home privately to a cash buyer and avoid agent fees altogether.
- Work with a flat-fee listing service instead of a traditional realtor.
- If using an agent, negotiate the commission upfront.
Price It Right from Day One
Many sellers price their home too high, thinking they can negotiate down. The problem? Overpriced homes sit on the market, forcing price reductions and making buyers suspicious. This can actually lead to lower final sale prices than if the home had been priced correctly from the start.
How to get top dollar:
- Research recent cash sales in your area to determine a fair, competitive price.
- Price slightly below market value to attract multiple offers and create a bidding war.
- If speed is a priority, cash buyers often pay fair prices with no commissions or hidden costs.
Sell As-Is Instead of Spending on Repairs
It’s tempting to renovate before selling, but not all upgrades add value. Many sellers spend thousands on home improvements that don’t increase the sale price enough to justify the cost.
What to do instead:
- Skip major renovations and sell your home as-is to cash buyers who purchase homes in any condition.
- Focus on low-cost improvements like fresh paint, minor fixes, and curb appeal.
- Get multiple offers and compare how much you’d actually profit after repair costs.
Know Your Closing Costs
Closing costs are often overlooked, but they add up. Sellers in Ontario typically pay for:
- Land transfer tax (if applicable)
- Legal fees (around $1,500–$3,000)
- Mortgage discharge fees
- Realtor commissions (if applicable)
One of the biggest advantages of selling to a cash buyer is that they often cover closing costs, meaning more money in your pocket at the end of the deal.
Avoid Buyer Financing Delays
A common way sellers lose money is by dealing with buyers who rely on mortgage approvals. If financing falls through, you’re left starting over, paying extra mortgage payments, taxes, and maintenance costs.
The better option?
- Work with cash buyers who can close in days, not months.
- Avoid deals with excessive contingencies and long closing periods.
- If time is money for you, speed matters—faster sales mean fewer carrying costs.
Final Thoughts
Selling a house in Ontario doesn’t have to mean giving away a chunk of your profits. By skipping realtor commissions, selling as-is, and working with cash buyers who cover closing costs, you can maximize your payout and sell on your terms.
Want to walk away with the most cash from your home sale? Let’s talk today.