Ontario / Greater Toronto Area · Reviewed October 26, 2026 · General residential guidance

1. Establish your timing and expected net proceeds

Start with why you are selling, where you will live next and how flexible your closing date can be. Discuss the practical risks of buying before selling or selling before securing your next home. Avoid treating an expected sale price as money already available.

Build a net-proceeds worksheet: anticipated sale price less mortgage payout, possible prepayment charges, brokerage remuneration and applicable taxes, legal costs, preparation expenses, moving and any other obligations. Ask your lender for a dated payout estimate. A mortgage balance on a statement may not equal the amount required to discharge it on closing.

Reference: FCAC: breaking a mortgage contract.

2. Agree on services, authority and remuneration

Read the RECO Information Guide and proposed listing agreement. Confirm who will represent you, the agreement’s duration, marketing services, remuneration, payment triggers and any holdover or termination provisions. Ask which preparation or advertising expenses you must pay separately and whether any are payable if the property does not sell.

Ensure the written agreement reflects what was discussed. Get legal advice on clauses you do not understand before signing. Keep your copy and any later amendments.

References: RECO: brokerage contracts · RECO seller’s checklist.

3. Gather evidence for the listing

Collect available property-tax information, surveys, renovation invoices, permits, warranties, condominium documents and equipment contracts. Identify rented or financed items and any obligations that may need to be assumed or paid out. Decide exactly which appliances, fixtures and other items are included or excluded.

Check listing measurements, descriptions, property features and claimed improvements against reliable records. If a fact is uncertain, investigate it or qualify it appropriately. Do not describe a suite as legal, a renovation as permitted or a feature as guaranteed without a sound basis.

Reference: RECO: accurate listing information.

4. Obtain advice on disclosure issues

Tell your representative about known problems and obtain a lawyer’s advice where disclosure obligations are uncertain. RECO specifically cautions that latent-defect law is complex. Painting over damage, moving furniture or using broad “as is” wording should not be treated as a solution to a disclosure issue.

Discuss unusual ownership, estate, separation, tenancy or title circumstances early. The documents and approvals needed can affect your ability to promise a closing date or vacant possession. Do not promise that a tenant will leave without legal advice about the actual tenancy and applicable process.

Reference: RECO: facts a seller has a legal obligation to disclose.

5. Choose a pricing and preparation strategy

Review relevant completed sales alongside competing listings, adjusting the discussion for location, property type, condition and timing. An asking price reflects a marketing decision; it is not an appraisal or a promise of the eventual selling price.

Set a preparation budget and a launch date. Separate necessary repairs from optional presentation work. Ask what each proposed expense is intended to achieve, who will complete it and whether the schedule is realistic. Avoid committing to a major renovation solely on an assumed resale return.

Agree on how you will review buyer feedback, showing activity and changes in competing inventory. Set a date to reconsider the strategy if activity differs from expectations.

6. Manage photography, showings and privacy

Review the marketing plan, access arrangements and instructions for occupants and pets. Remove or secure financial documents, medication, jewellery and other sensitive items before photography or visits. Check whether photographs reveal family information, security details or valuables.

Keep descriptions and images accurate. Virtual staging should be identified and must preserve the property’s permanent features. Obtain advice on applicable brokerage and MLS advertising requirements before publication.

References: RECO: AI and altered-image guidance · Our Home Staging Guide.

7. Compare the whole offer

Consider the price alongside the deposit, conditions, inclusions, closing date and other obligations. Discuss uncertain wording and unusual clauses with your lawyer. A higher price may come with risks or timing that do not suit your circumstances.

For competing offers, agree on clear instructions with your representative. Ontario buyers who submit offers are entitled to know the number of competing offers. Sharing other offer content requires the seller’s direction; personal or identifying information cannot be shared. Ask for an explanation before choosing an offer-sharing strategy.

Reference: RECO: open offers.

8. Complete the sale and retain your records

Send the signed agreement to your lawyer, track conditions and fulfil the obligations you have accepted. Coordinate mortgage discharge, any agreed repairs, included items, moving and possession. Ask your lawyer how sale proceeds will be released and how adjustments will be calculated.

Ask your tax adviser about reporting the sale, even if you expect a principal-residence exemption. Rental use, changes of use, non-residency and other circumstances require individual review. Keep the agreement, completion statement and supporting records.

Reference: CRA: principal residence and real estate.