Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

How do I figure out what I will actually net on a home sale?

What you will actually net on a home sale is your sale price minus your remaining mortgage balance, minus commission and legal fees, minus any adjustments for property tax or condo fees at possession, not the number on the offer itself. The Law Society requires your lawyer to prepare a statement of adjustments itemizing every deduction.

Commission in Saskatchewan is negotiable and often tiered, a higher percentage on the first portion of the price and a lower one on the balance, so the exact figure depends on what you agreed with your brokerage rather than a fixed industry number. Legal fees for the closing typically run $800 to $1,500 on top of that.

Your remaining mortgage balance, which your lender can confirm with a payout statement, is usually the single largest deduction, larger for a recent purchase than for a home you have owned for decades and mostly paid off. A hand-reviewed valuation gives you a realistic sale price to start that calculation from, rather than an online estimate that may run low.

Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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