What selling actually costs —
and what you keep.
The sale price is the headline; the number that matters is what lands in your account after everyone's been paid. Sellers routinely fixate on the list price and get surprised at closing by what comes off it. None of these costs are mysterious — they're just rarely laid out plainly before you sign. So here's the whole stack, with a worked example, and the two taxes people most often get wrong.
The costs, line by line
Sources: BCFSA Consumer Guide to Remuneration (commission), and 2026 Lower Mainland conveyancing/discharge fee ranges. Commission is negotiable and set by each brokerage — figures here are illustrative, not a quote.
A worked example: a $1,840,700 sale
Take the April 2026 detached benchmark, $1,840,700, and run the common BC commission structure on it — 7% on the first $100,000 ($7,000) plus 2.5% on the remaining $1,740,700 ($43,517.50) — for a commission of about $50,518. That's an effective rate near 2.74% of the sale price. (If you're picturing the often-quoted ~5% figure, that's the older full-service number before buyer-agent commissions became separately negotiated.) Add 5% GST on the commission (about $2,526), roughly $1,500 for legal/notary, and $300 to discharge a mortgage:
Illustrative only, based on a common BC commission structure and mid-range 2026 fees; excludes any outstanding mortgage balance, prepayment penalty, and prorated property-tax adjustments. Your numbers depend on your brokerage agreement and lender. Run your own figures with the commission calculator.
The two taxes sellers get wrong
Property transfer tax is not yours. BC's PTT — 1% on the first $200,000, 2% up to $2M, 3% up to $3M, and another 2% above $3M on residential — is paid by the buyer. Sellers see it on the buyer's side of the statement and sometimes panic; it never comes off your proceeds. (If you're also buying your next place, then it's a cost — on that purchase. Our PTT calculator covers that side.)
Capital gains might be. If the home was your principal residence the entire time you owned it, the sale is generally tax-free under the CRA's principal residence exemption. You can owe capital gains on a property that was a rental, an investment, or a lot held for redevelopment — and Burnaby's Bill 44 landscape has more owners holding lots for builder upside, so this comes up more than it used to. If your property was anything other than your full-time home, talk to an accountant before you list.
Key Takeaways
- 01.Commission is the big cost — and it's negotiable, not a fixed rate.
- 02.GST is charged on the commission (5%), not on a resale home's sale price.
- 03.The seller does not pay BC property transfer tax — the buyer does.
- 04.Capital gains can apply to a non-principal-residence (rental or held lot) — get tax advice.
This guide is general information as of June 2026 and is not legal, tax, or financial advice. Commission is negotiable; fees and tax exposure vary. Confirm your specific numbers with your REALTOR®, notary or lawyer, and accountant.
Frequently Asked Questions
How much does it cost to sell a house in Burnaby?
Most of the cost is commission. The common BC structure is 7% on the first $100,000 of the sale price and 2.5% on the balance, split between the listing and buyer's brokerage, plus 5% GST on the commission. Add roughly $1,000–$2,500 in legal or notary fees and $200–$350 to discharge a mortgage. On a $1.84M sale that totals roughly $98,000–$103,000 before any prepayment penalty.
Is real estate commission fixed in BC?
No. There is no standard or mandatory commission rate in Canada, and stating one as 'standard' is not permitted. The 7%/2.5% structure is common but every brokerage sets its own fee, and it is negotiable. Since BCFSA's rules, the buyer's-agent portion is also negotiated separately through a written agreement.
Does the seller pay the property transfer tax in BC?
No. BC's property transfer tax is the buyer's cost (1% on the first $200,000, 2% to $2M, 3% to $3M, plus 2% above $3M on residential). Sellers do not pay it. Sellers' costs are commission plus GST, legal/notary fees, and a mortgage discharge.
Will I owe capital gains tax when I sell my Burnaby home?
Not if it was your principal residence for the whole time you owned it — that sale is generally tax-free under the CRA's principal residence exemption. You can owe capital gains on a property that was a rental, investment, or a lot held for redevelopment, or for years it was not your principal residence. Confirm your situation with an accountant.
What is GST charged on when I sell?
For a typical resale home, GST is charged on the real estate commission (5%), not on the sale price of the home itself. Used residential housing is generally GST-exempt on the sale. Newly built or substantially renovated homes can be a different story — get advice if that's your situation.
Sources & References
- Consumer Guide to Remuneration (how commission works in BC) — BC Financial Services Authority (BCFSA)
- Property transfer tax (paid by the buyer) — Province of British Columbia
- Principal residence exemption (capital gains) — Canada Revenue Agency
- BC commission calculator (illustrative figures) — Jersey Li — Commission Calculator