Moving Out and Estimating Your Net Proceeds

Four to six weeks before

• · Declutter, discard and donate
• · Collect quotes from moving companies
• · Choose a mover and sign the contract
• · Create a file for moving papers and receipts
• · Locate schools and healthcare providers in your new location
• · Gather packing supplies and plan how you will pack
• · Secure off-site storage if needed
• · Contact insurers to arrange coverage on the new home

Three to four weeks before

• · Notify everyone of your change of address
• · Notify utility companies of the date to discontinue or transfer service

Two to three weeks before

• · Notify ServiceOntario of your new address
• · Notify banks, memberships and doctors
• · Discontinue home services such as housekeeping or lawn care
• · Arrange child and pet care for moving day
• · Start using up things you cannot move, such as perishables
• · If you are in a condo, notify the corporation and reserve the elevator

One week before

• · Confirm final arrangements
• · Pack an essentials box for quick access at the new home
• · Arrange transportation for pets and plants
• · Set up mail forwarding

Estimating your net proceeds

Your net proceeds are the estimated sale price less everything that comes off it. Running the numbers at two or three price points — for example $700,000, $720,000 and $740,000 — gives a realistic range before you commit to a plan.

• · First and second mortgage balances
• · Mortgage payout penalty
• · Mortgage discharge fee
• · Property tax proration
• · Real estate fees plus tax
• · Approximate legal fees
• · Land transfer tax on your next purchase
• · Home improvement costs
• · Pre-listing inspection
• · Inspection repairs
• · Closing cost credit to the buyer
• · Adjustment costs and moving expenses

These figures are estimates only and are not legal, tax, mortgage or accounting advice. Confirm specifics with your lawyer, lender and accountant.