# What Does It Cost to Sell a Toronto Condo? A Category-by-Category Planning Sheet
Quick answer: Seven categories: commission plus 13% HST on it, legal fees and disbursements, mortgage discharge costs including any prepayment penalty, the status certificate, closing adjustments, any unpaid special assessment, and moving. The one that blindsides people is the prepayment penalty, it can run into five figures, your mortgage statement won't show it, and only a written discharge statement from your lender will.
Start with the number that isn't your sale price
Toronto condo values have moved. In the first quarter of 2026, the average condominium apartment selling price in the City of Toronto was $649,330, down from $711,258 in the same quarter of 2025. GTA-wide, the Q1 2026 average was $618,484, off 9.1% year over year. By July 2026, the MLS® HPI apartment benchmark sat at $535,200, down 7.35% year over year, with average days on market at 40.
If you bought in 2021 or 2022, this matters twice: once for your sale price, and once because a smaller sale price doesn't shrink most of the costs below. Commission scales with price. Legal fees, the status certificate, and your discharge penalty largely don't.
Run your own numbers before you commit to a listing date. Seller net proceeds calculator →
The seven categories
1. Real estate commission, plus HST
Commission in Ontario is negotiated between you and your brokerage. There is no standard rate, and anyone who tells you there is a fixed one is wrong.
What's not negotiable: HST at 13% applies to the commission. On any meaningful commission figure that's a real number, not a rounding error. Confirm in your listing agreement how the commission is calculated, how the cooperating brokerage's portion is handled, and how HST is applied.
2. Legal fees and disbursements
Your real estate lawyer's fee for the sale, plus disbursements: title search, registration, software charges, courier, and the discharge registration. HST applies to the legal fee.
Get a written quote before you list. Ask specifically whether the quote is all-in or fee-plus-disbursements, the difference is often several hundred dollars.
3. Mortgage discharge costs, the one that surprises people
Three separate items live here:
- Discharge or administration fee, modest, and set by your lender
- Prepayment penalty, if you're breaking a term early, typically the greater of three months' interest or an interest rate differential (IRD) calculation
- Any porting or blending arrangement, if you're buying again
IRD penalties are where the damage happens. The calculation varies by lender and depends on the spread between your contract rate and the lender's current comparison rate. With the Bank of Canada's policy rate held at 2.25% on July 15, 2026, a sixth consecutive hold, that spread looks very different than it did two years ago for many borrowers, and not always in the direction people assume.
Your last mortgage statement will not show this. Request a written discharge statement quoting the payout balance, the penalty in dollars, and all fees, as of your expected closing date.
4. Status certificate
Under section 76 of the Condominium Act, 1998, the corporation must provide the status certificate within 10 days of a proper written request, and the fee is capped at $100 including all applicable taxes.
Rush service and third-party ordering convenience fees are not capped. Order early and pay $100 instead of several hundred.
Note: whether the buyer or seller pays is negotiable and varies by practice. In many Toronto transactions the buyer pays; in others the seller provides it as part of the listing. Confirm what you're agreeing to.
5. Closing adjustments
Your lawyer's Statement of Adjustments prorates:
- Property tax paid or owing to the closing date
- Condo common expenses for the closing month
- Any prepaid utilities
- Occasionally, a special assessment instalment
These can go either direction. If you've prepaid your taxes for the year, the buyer reimburses you. If you're behind, it comes off.
6. Special assessments and arrears
If your corporation has levied a special assessment, responsibility depends on timing and the wording of the corporation's notice, and on what the status certificate says. Get your lawyer's read before you list, not after.
Any arrears on your common expenses will come off your proceeds at closing.
7. Moving, preparation, and carrying costs
Not on the closing statement, but real:
- Staging and professional photography
- Cleaning and minor repairs
- Movers, storage, elevator booking fees (many Toronto buildings charge one)
- Carrying costs for every month the unit sits, mortgage, fees, taxes, insurance, hydro
At 40 average days on market for condo apartments, budget for at least two months of carrying costs from listing to closing, and more if your building is competitive.
The planning sheet
| Category | What to confirm | Who provides it | Done |
|---|---|---|---|
| Commission + 13% HST | Rate, structure, HST treatment | Your listing agreement | ☐ |
| Legal fees + disbursements | All-in written quote | Your real estate lawyer | ☐ |
| Mortgage payout balance | As of target closing date | Lender, in writing | ☐ |
| Prepayment penalty | In dollars, not a formula | Lender, in writing | ☐ |
| Discharge / admin fee | Amount | Lender | ☐ |
| Status certificate | $100 cap; who pays | Condo corporation | ☐ |
| Closing adjustments | Estimated statement | Your lawyer | ☐ |
| Special assessment / arrears | Amount and responsibility | Status certificate + lawyer | ☐ |
| Staging, photography, repairs | Quotes | Vendors | ☐ |
| Moving + elevator booking fee | Quotes; building rules | Movers; property manager | ☐ |
| Carrying costs | Monthly total × expected months | You | ☐ |
What sellers get wrong about land transfer tax
Toronto's municipal land transfer tax is paid by the buyer, not the seller, on top of the Ontario land transfer tax. You do not pay it on the sale.
It matters to you indirectly. It's part of your buyer's total cash-to-close, and the City increased high-value residential rates effective April 1, 2026. On a higher-priced unit, that's cash your buyer needs at closing that can't go toward price.
If you're buying again inside Toronto, you'll pay both taxes on the purchase. Eligible first-time buyers can claim up to $4,000 provincially and up to $4,475 municipally in Toronto, but if you're selling a condo you own, you're unlikely to qualify. Confirm with your lawyer.
Figures referenced
| Item | Figure | Source and date |
|---|---|---|
| City of Toronto average condo apartment price, Q1 2026 | $649,330 (vs $711,258 Q1 2025) | TRREB Condo Market Report, Q1 2026 |
| GTA average condo apartment price, Q1 2026 | $618,484, −9.1% YoY | TRREB Condo Market Report, Q1 2026 |
| MLS® HPI apartment benchmark, July 2026 | $535,200, −7.35% YoY | TRREB July 2026 Market Watch |
| Condo apartment average days on market | 40 | TRREB July 2026 Market Watch |
| Bank of Canada policy rate | 2.25% (held July 15, 2026) | Bank of Canada |
| HST rate in Ontario | 13% | Canada Revenue Agency |
| Status certificate fee cap / timeline | $100 incl. taxes / 10 days | Condominium Act, 1998, s. 76 |
| Toronto MLTT high-value rates | Increased effective April 1, 2026 | City of Toronto |
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This article is general information, not legal, tax, mortgage, or accounting advice, and not a guarantee of net proceeds. Commission is negotiable and set by agreement with your brokerage. Confirm every figure with your lender, lawyer, and a tax professional.
Sources: TRREB Market Watch · TRREB Condo Market Report · Bank of Canada, Policy interest rate · Condominium Authority of Ontario, Status Certificates · Ontario land transfer tax refunds for first-time homebuyers · RECO Bulletin 5.1, Advertising requirements
Related reading: Seller net proceeds calculator · Mississauga seller net proceeds · The document pack every Mississauga condo seller needs · The July 2026 GTA condo report · Toronto land transfer tax calculator · Seller guide
Next step: Get a written net proceeds estimate before you decide whether to list. Request a written, no-obligation CMA →
Mohammed Mustaf · HomeLife Miracle Realty Ltd., Brokerage · Mississauga, Ontario