The useful answer

Estimate net proceeds by subtracting the mortgage payout, agreed transaction costs, applicable taxes, and other adjustments from the sale price. Use written quotes and professional advice for amounts that depend on your circumstances.

Start with ranges, then replace them with quotes

Create low, middle, and high sale-price scenarios. Use the same cost categories in each so you can see which decisions matter. Label every uncertain number. The worksheet is a planning aid, not a closing statement or a promise of proceeds.

Request a mortgage payout estimate

Ask the lender about the expected balance, discharge fees, prepayment charges, and any portability conditions. The amount can depend on your product and completion date. A current loan balance alone may not capture what is owed on discharge. Ask how long the estimate remains useful.

Record the negotiated service agreement

Understand the agreed real estate remuneration, what services it includes, when it is payable, and applicable taxes. Do not assume a standard commission. Add any separately approved preparation, photography, storage, or moving costs only once you know who is responsible for them.

Include legal work and adjustments

Ask your lawyer or notary about fees, disbursements, title matters, and closing adjustments. Property taxes, strata fees, and other prepaid or unpaid items may be adjusted under the contract. The actual statement of adjustments is transaction-specific.

Get tax advice before committing the proceeds

A principal residence, rental property, short ownership period, non-resident ownership, or change in use can create different questions. Ask an accountant which rules and reporting obligations apply to you. Do not treat a general online example as a tax determination.

Use the result to test the next move

Compare the conservative scenario with the cash needed for your next purchase, moving costs, and an emergency buffer. If the move works only at the most optimistic price, address that risk before agreeing to new obligations.

Your next-step checklist

  • Obtain a lender payout estimate.
  • Confirm the written service agreement.
  • Ask for legal or notarial closing costs.
  • Review your tax position with an accountant.
  • Keep a move and contingency buffer.

Useful official sources

Research checked September 29, 2026. Rules and property information can change. Confirm current requirements and get advice for your particular transaction.