Common Questions
Net Proceeds — FAQ
Is GST really charged on real estate commission?
Yes. In BC, real estate commissions are subject to 5% federal GST (no provincial PST applies to the service). The GST is charged on the commission amount, not on your sale price, but it's a real cost that's easy to forget when estimating your take-home.
Why isn't there a fixed commission rate in this calculator?
Commission rates in BC are negotiated between you and your agent — there's no fixed or legislated rate, and quoted "typical" rates vary widely by source and market. Rather than assert a number that might not match your actual agreement, we let you enter your real rate for an accurate result.
What is a mortgage discharge or prepayment penalty?
If you're paying off your mortgage before your term ends, most lenders charge a penalty — commonly three months' interest for a variable rate, or an "interest rate differential" (IRD) calculation for a fixed rate, which can be significantly larger. Your lender can give you an exact payout statement; this varies too much to estimate reliably here.
What other costs might I be missing?
Depending on your situation: outstanding property tax adjustments, strata estoppel certificate fees (for condos/townhomes), minor repairs negotiated after inspection, and moving costs. A pre-listing conversation with your agent will surface anything specific to your property.