To sell your home in London, Ontario, you price it, list it with an agent, accept an offer, and close with your lawyer’s help. Most sales follow the same steps, and each one has a legal or money detail worth knowing before you start.
Here’s what that looks like. Say you list your London home on a Thursday and accept an offer the following week. Your agreement sets a closing date, often 30 to 60 days away. In between, your lawyer checks title, arranges your mortgage payout, and gets the paperwork ready. On closing day, the money moves, you hand over the keys, and your lawyer pays you the proceeds. This guide walks through each step.
1. Check your mortgage first
Before you call an agent, find out what you owe and what it costs to pay off. Ask your lender for a payout statement. If you sell before your term ends, you may owe a prepayment penalty, which can run into thousands of dollars. Knowing this number early tells you how much money you’ll actually keep.
2. Choose an agent
An agent prices your home, markets it, shows it, and negotiates offers. London agents list homes on the local MLS system, run through the London and St. Thomas Association of REALTORS (LSTAR). Commission is negotiable and typically runs 4% to 5% plus HST, so ask what’s included before you sign a listing agreement.
3. Price it with local sales in mind
Your agent will compare recent sales of similar homes near yours. Price matters more than almost anything else. A home priced too high can sit, and a home priced well can bring several offers. Ask your agent to show you the sales behind the number.
4. Get the home ready
Cleaning, small repairs, fresh paint, and good photos help most. Fix obvious problems before buyers find them, because an inspection can turn a small issue into a price negotiation. Keep your spending modest, and ask your agent which jobs buyers actually care about.
5. Talk to a lawyer before you accept an offer
You can wait until the offer is accepted, but it pays to talk to your lawyer sooner. Once you sign an agreement of purchase and sale, it’s a binding contract. Your lawyer can read the conditions, closing date, and any items the buyer wants included or excluded, and flag anything risky. This matters most when the offer has unusual conditions, a very short or long closing date, or a buyer who needs financing.
6. Review and negotiate offers
An offer sets out the price, deposit, closing date, and conditions. Common conditions include financing and a home inspection. Each condition has a deadline. If the buyer removes the conditions, the deal becomes firm. If not, the deal can end. Mark every date on your calendar and share the list with your agent and your lawyer.
7. What your lawyer does after you accept
Once the deal is firm, your lawyer takes over the legal work:
Reviews the agreement and prepares your closing documents
Responds to title requisitions from the buyer’s lawyer, which are questions or requests about the property’s title
Arranges your mortgage payout and the discharge from title
Prepares the statement of adjustments, which splits costs like property tax and condo fees between you and the buyer
Receives the closing funds and pays out what you owe
Delivers your net proceeds and a final report
At Darr Law, a standard sale with one mortgage payout is $999 plus HST and disbursements. Condo sales and other non-standard closings can involve additional fees, and we confirm those before we start.
8. Closing day
You sign your documents with your lawyer, usually a few days before closing. On closing day, the buyer’s funds arrive, your mortgage is paid off, and ownership transfers. You hand over the keys, and your lawyer sends you the proceeds. Leave the home clean and empty, and make sure you’ve set up your utility final readings.
9. After closing
A few loose ends can follow:
The mortgage discharge. Your lender pays off the debt at closing, but registering the discharge on title can take weeks. That’s normal.
Your tax return. If the home was your principal residence, you generally don’t pay tax on the gain, but you should still report the sale. Talk to an accountant if the home wasn’t your principal residence for the whole time you owned it.
Your address. Update your address with your bank, insurance, and government offices.
What it costs
Selling costs commonly land somewhere between 5% and 8% of the sale price. The biggest piece is agent commission, followed by your mortgage penalty (if any), legal fees, and the money you spend getting the home ready. In London, the buyer pays land transfer tax, and unlike Toronto, there’s no extra municipal tax. For a full breakdown with a worked example, read our guide to the cost of selling a house in Ontario.
Selling a condo in London
Condo sales add a few steps. Consider ordering the status certificate before you list, so buyers can review it right away. Condo sales also involve more legal work, which is why they can cost more than a standard house sale.
Common mistakes to avoid
Waiting to check your mortgage penalty until you’ve already accepted an offer
Missing a condition deadline
Accepting an offer without a lawyer reading it when it has unusual terms
Underpricing prep costs and overspending on renovations buyers don’t value
Forgetting to plan your next move, especially if you’re buying and selling at the same time, in which case you’ll want to coordinate both closings
The bottom line
Selling a home goes more smoothly when you plan the money first, price it well, and bring your lawyer in early. The process follows the same steps for most London sellers, and knowing them ahead of time takes much of the stress out.
Thinking about selling your home in London? Contact us before you list, and we’ll give you a clear flat-fee quote and walk you through the legal steps.