Overview: selling your Toronto home? This step-by-step guide shows you how, offering expert insights, advice, checklists and answers to help you sell resale property faster and for more.
Selling Your Toronto Home: An Introduction
Selling a home in Toronto requires planning, preparation, legal and financial knowledge, marketing savvy, the ability to negotiate, and knowing what buyers want.
In short: it’s a long, complex and overwhelming process that usually requires professional help.
This guide will show you everything you need to know about how to sell your Toronto home quickly, with less stress, and for the price its worth.
For those looking to buy a resale home in Toronto, check out this link.
Why Should Toronto Homeowners Sell Now?
Perhaps the biggest reason is the recently re-elected Liberal government, which announced plans to build 500,000 new homes per year.
At the same time, Canada is cutting its 2025 immigration targets by 90,000 from 485,000 to 395,000.
This will be followed by a reduction to 380,000 in 2026 and 365,000 in 2027.
As housing supply finally surpasses demand, prices will come down, as they did in April by 4.1%.
More inventory will also lead to greater competition between sellers, causing prices to drop even further.
Despite declining sales and prices, Toronto’s Average Sales Price To Listing Price is currently 99%, meaning homes are selling at or near asking.
So selling now, while demand is still strong, makes more sense than waiting.
How To Sell Resale Property In Toronto
To simply the selling process, just follow these steps:
1. Identify your goals
- Know why you’re selling (e.g. moving, downsizing, upsizing, etc)
- Consider how much you’re willing to spend on repairs and upgrades
- Have a timeline of when you want to sell and move out by
2. Find a local real estate agent
- A local agent will know how much homes in your area are worth
- Look for someone with a good track record and strong digital presence
- Make your partnership official by signing the listing agreement
3. Determine the right listing price
- Ask your agent for a Comparative Market Analysis (CMA)
- Use websites like Realtor.ca to find recently sold homes in your area
- Know the difference between list price (the price you set) and sold price (what the buyer pays)
- Set a competitive price based on the CMA and your agent’s advice
4. Make necessary repairs and renovations
- Conduct a home inspection early to identify essential repairs
- Discuss any upgrades with your agent so you don’t overspend
- Make the required fixes
5. Stage and photograph your home
- Clean and declutter your home
- Consider professional staging to enhance appeal
- Have your agent hire a photographer to take pics and video for marketing purposes
6. List your property
- Create a compelling listing description and put your property on MLS
- Schedule open houses (be flexible with timing)
- Don’t be at home during showings
- Use a lockbox for your keys
7. Review and negotiate offers
- Review offers with your agent
- Negotiate repairs, closing dates and other terms with buyers
- Work with your agent to secure the best deal possible
- Accept an offer and sign paperwork
8. Complete buyer-requested repairs
- Make all necessary repairs requested by buyer
- Ensure home is in the agreed-upon condition before closing
9. Meet with your lawyer
- Finalize the Agreement of Purchase and Sale
- Resolve any title or legal issues
- Prepare closing documents
10. Perform closing preparations
- Arrange for movers
- Cancel or transfer utilities and services
- Cancel homeowner’s insurance policy
- Have receipts and documents for home repairs
11. Finalize closing details
- Confirm financing and legal paperwork are completed
- Ensure the title search and property survey are verified
- Set a time for the buyer to perform a final walk-through within 24 hours of closing
12. Close and move out
- Pay all necessary closing fees
- Review and sign closing documents
- Hand over keys to the buyer
- Celebrate selling your home!
Pre-Listing Checklist
House Exterior
- Wash windows and clean window wells
- Repaint and clean siding
- Powerwash driveway and fill cracks
- Repaint or stain patio
- Clean and repair gutters
- Replace missing shingles
- Ensure lights and doorbell work
Curb Appeal
- Mow lawn, remove weeds and add mulch to trees and flowerbeds
- Trim trees, bushes and walkways
- Add colorful plants
- Clean and paint the front door
- Add a new doormat
House Interior
- Check and replace dead light bulbs
- Ensure all windows open, close and lock properly
- Dust all lights, ceiling fans, shelves, art and furniture
- Clean filters, vents, baseboards, windows, blinds and curtains
- Mop floors and have carpets professionally cleaned
- Replace worn pillows and rugs
- Repair and repaint walls with neutral colours
- Eliminate odors and beautify rooms with fresh flowers
- Depersonalize (e.g. remove family photos)
- Declutter (throw away/donate items) and take out trash
Bedrooms
- Dust and organize nightstands and other furniture
- Declutter and organize closets (leave free space)
- Arrange furnishings to make rooms look bigger
- Clean shades and curtains
Bathrooms
- Fix leaky faucets
- Clean or replace shower curtains
- Remove soap residue, rust and mildew stains
- Remove dust from exhaust fans
- Replace old rugs and towels
- Ensure toilets work properly
- Check water pressure for all fixtures
- Ensure proper drainage in sinks, tubs and showers
Kitchen
- Organize items and free up counter space
- Deep clean refrigerator and stove
- Wash all cabinet doors
- Ensure all appliances work
- Remove refrigerator magnets
- Hide trash can in closet
Laundry Room
- Remove all clothes
- Organize shelves
- Wipe down washer and dryer
- Clean all surfaces
- Ensure sinks and appliances work
Garage and Basement
- Wash floors
- Seal or paint floors
- Cover exposed wiring
- Organize items in bins on shelves
- Declutter to open up space
- Ensure garage door works
- Clean and organize basement
Closing Day Checklist
Before
- Remove all personal belongings
- Turn off switches and close any open valves
- Leave behind all household remotes (e.g. garage door opener)
- Collect appliance manuals, warranties and other documents for buyer
During
- Provide clear instructions for where you’ll leave keys
- e.g. with lawyer or at property
After
- Confirm new owners have access to utilities
- Make a copy of all closing documents and store them securely
Home Showing Checklist
If your showing is in:
10 Minutes
- Remove trash
- Clean all counters
- Make your beds
- Replace old towels
- Close toilet seats
- Turn on all lights and open curtains
- Put unnecessary items into your car
30 Minutes
- Remove trash
- Clean all counters
- Make your beds
- Replace old towels
- Close toilet seats
- Apply air fresheners
- Clear kitchen sink
- Vacuum carpets
- Sweep and mop all hard-surfaced floors
- Turn on all lights and open curtains
- Put unnecessary items into your car
- Secure your pets or bring them with you
1 Hour
- Remove trash
- Clean all counters
- Make your beds
- Replace old towels
- Close toilet seats
- Clean all glass and mirror surfaces
- Apply air fresheners
- Clear kitchen sink
- Vacuum carpets
- Sweep and mop all hard-surfaced floors
- Sweep front door and shake out doormat
- Turn on all lights and open curtains
- Put unnecessary items into your car
- Secure your pets or bring them with you
Tips On How To Sell Resale Property in Toronto
- Set a competitive price to attract more buyers
- Improve curb appeal to create a great first impression
- Professionally stage your home to help it sell faster and for a higher price
- Market your home with professional photos, videos, virtual tours and social media
- Be flexible with showings to increase number of visitors (e.g. nights and weekends)
- Time your sale for peak seasons (i.e. spring and fall)
- Don’t over-renovate; instead make upgrades that boost your property value
- Work with a skilled local agent to guide you through the entire selling process
Selling Your Home: Frequently Asked Questions (FAQs)
When is the best time to sell a home in Toronto and the GTA?
The best time to sell is typically in the spring and fall (i.e. March to May, September to November)
How do I determine the right price for my property?
Your agent can provide a Comparative Market Analysis (CMA).
A CMA looks at recent sales of similar properties in your area, including their size, number of bedrooms, bathrooms, features and upgrades.
The result is a valuation of your property based on data, which helps you set a more competitive (and realistic) asking price.
Do I need to stage my home before selling?
You don’t need to stage it, but staging has been shown to result in quicker sales and higher prices.
How long does it take to sell a resale property in Toronto?
The time it takes depends on pricing, demand and market conditions (e.g. interest rates).
Right now, the Average Listing Days On Market (LDOM) for Toronto and the GTA is 25 days, meaning it takes a little less than a month to sell a home.
What documents do I need to sell my home?
You’ll need:
- The property deed
- Tax records
- Utility bills
- Renovation-related warranties and permits
What fees and taxes do I have to pay when selling a home in Toronto?
- Commission Fees: 4-5% of selling price + HST
- Legal Fees: $1000 to $2500 + HST
- Mortgage Discharge Fee: $200 to $400 (not tax)
- Title Insurance: $300+
- Bank Fees: $250 to $500
- Moving Expenses: $750 to $3500
- Capital Gains Tax: varies and only applicable to investment properties
- Closing Adjustments: varies (eg. unpaid utility bills)
- Home Repairs: optional and varies
Why should I hire a real estate agent to help me sell resale property?
Selling a home is a long, stressful process that requires extensive knowledge of market trends, the law, finance, negotiation, and advertising.
Here’s what an agent can do for you:
- Help you set a competitive price based on research to attract more buyers
- Professionally market your listing to reach a bigger audience
- Save you time by coordinating showings and answering buyer inquiries
- Offer legal guidance on contracts and paperwork to prevent costly mistakes
- Connect you with a network of home inspectors, lawyers and contractors
- Negotiate price, terms and dates with buyers to get you the best deal possible
Conclusion: How To Sell Resale Property In Toronto
But selling a home is hard work, especially in one of the world’s most competitive housing markets.
It takes planning, preparation, up-to-date knowledge of market trends, insights into buyer behaviour, and the ability to negotiate with multiple parties.
A professional real estate agent can help, offering the tools, advice and experience you need.
As a specialist in resale properties, I can help you sell your house or condo at a price that makes you happy.
Looking to sell resale property in Toronto or the GTA? Contact me below.
Wins Lai
Real Estate Broker
Re/Max Ultimate Realty Inc., Brokerage
m: 416.903.7032 p: 416-530-1080
f: 416-530-4733
a: 836 Dundas St W Toronto, ON M6J 1V5
w: www.winslai.com e: wins@winslai.com