How to Sell a Toronto Condo: A Step-by-Step Guide

The short answer: selling a Toronto condo comes down to seven steps. Choose a registered agent, understand your listing agreement, order the status certificate early, gather documents that back up your listing details, set clear showing rules, review offers on your own terms, and plan for closing costs and tax reporting. The status certificate is the step that is unique to condos, and it takes time to arrive, so start it first.

This guide is written by The Starke Group (TSG), Brett Starke's Toronto real estate team at RARE Real Estate Inc. It pulls together official guidance from the Real Estate Council of Ontario (RECO), the Condominium Authority of Ontario (CAO) and the Canada Revenue Agency (CRA). It is general information, not legal or tax advice.

Step 1: How do I choose an agent to sell my condo?

Start by confirming that any agent you interview is registered. RECO's seller's checklist recommends checking registration through RECO's search tool and asking for references. Under Ontario's Trust in Real Estate Services Act (TRESA), an agent must give you the RECO Information Guide and explain it before providing services, so expect that conversation early.

For condos, ask each agent how they would price your suite against recent activity in your building and nearby buildings, and how they plan to market it. For more questions to ask, see our practical checklist for choosing a Toronto realtor.

Step 2: What should I check in the listing agreement?

RECO says a listing agreement must be in writing, and that you should understand it fully and get independent legal advice if you need it. Key points RECO highlights:

• Type of representation. You can sign with the brokerage as a whole or with a designated representative (an option introduced on December 1, 2023).
• Services. The services the brokerage will provide should be set out in the agreement.
• Payment. Commission is not set by RECO, any government or any association. It can be a fixed amount, a percentage or both, but it cannot be based on the difference between the listing price and the sale price. The agreement must also explain any compensation offered to a buyer's brokerage and what changes if the brokerage represents more than one party.
• Expiry and termination. The expiry date must appear prominently on the first page. Read the termination terms and the holdover clause, which can cover a set period (for example, 30 days) after the agreement ends.

Step 3: Why should I order the status certificate early?

A status certificate is the condo document buyers and their lawyers rely on most. According to the CAO, anyone can request one, and the condo corporation must provide it within 10 days of the request. It includes:

• The declaration, by-laws and rules
• The current budget, the latest audited financial statements and the auditor's report
• The most recent reserve fund study and the current state of the reserve fund
• Common expenses for the unit, including any arrears
• Any increases in common expenses and the reasons for them
• Any special assessments
• The names of directors and officers, and insurance certificates
• Information on lawsuits and judgments against the corporation

The CAO notes that the information in a status certificate is binding on the corporation, and it encourages buyers to review the certificate with a lawyer. Having a recent certificate ready, or knowing exactly when it will arrive, helps you avoid surprises once an offer comes in.

Step 4: What documents should I gather before listing?

RECO's seller's checklist stresses that the details in your listing should be accurate and backed up. Pull these together before your suite goes live:

• Square footage, and how it was measured
• Receipts, invoices or permits for any renovations
• Your most recent property tax figures
• A clear list of inclusions, such as appliances, light fixtures, window coverings and the water heater

On the marketing side, TSG's selling page explains that our pricing compares a home to 5 active, 5 pending and 5 recently sold listings, and that we use photography, virtual tours, 3D walkthroughs and video, with real-time seller updates through Brivity.

Step 5: How do showings and lockboxes work in a condo?

You decide how buyers get in. RECO's lockbox guidance says you are not required to allow lockbox access, and your agent needs your consent, ideally in writing. Buyer agents should have advance permission and a confirmed appointment. Electronic lockboxes can record when they were opened and limit access to scheduled showings. If you prefer, you can instead agree in writing that showings happen only by appointment.

RECO also suggests setting showing ground rules and putting away valuables and personal information, such as mail and documents, before buyers come through. In a condo, also check your building's rules for visitor access.

If your suite is in King West, our guide to King West condo buildings shows the kind of building details buyers tend to ask about.

Step 6: What happens if I get multiple offers?

RECO's guidance on competing offers says buyers who have made a written offer are entitled to know how many competing offers there are. The details of offers are only shared with your clear written direction, and personal information is never shared. You choose how to respond. You can:

• Accept the best offer
• Negotiate with one buyer and reject the others
• Negotiate with one buyer and set the others aside
• Reject all of the offers

Your offer details stay confidential unless you direct otherwise, so talk with your agent about your approach before offers arrive. For a recent read on how busy the market is, see our TRREB September 2026 market watch.

Step 7: What should I plan for at closing and tax time?

RECO recommends budgeting for closing costs, including commission, legal fees and moving, and having a backup plan if your sale and purchase closing dates do not line up.

Taxes matter too. The CRA says a condo can qualify as a principal residence. If it was solely your principal residence for every year you owned it, you generally do not pay tax on the gain, but you must still report the sale on Schedule 3 and Form T2091(IND) of your tax return. The CRA also has a residential property flipping rule: if you owned the unit for less than 365 consecutive days, the gain is generally treated as business income rather than a capital gain, unless a listed life event applies (for example, a death, an eligible work relocation, a relationship breakdown or a serious illness). Speak to your accountant.

Condo seller's checklist

• Confirm your agent's RECO registration and check references
• Read the listing agreement, including expiry, termination and holdover terms
• Request the status certificate (allow up to 10 days)
• Gather square footage, renovation receipts, property tax figures and an inclusions list
• Decide on lockbox or appointment-only showings, in writing
• Put away valuables and personal documents
• Agree on how you will handle multiple offers
• Budget for commission, legal fees and moving
• Ask your accountant about principal residence reporting

FAQ

How long does it take to get a status certificate in Ontario?
The CAO says the condo corporation must provide it within 10 days of the request, so order it as soon as you decide to sell.

Do I have to use a lockbox to sell my condo?
No. RECO says sellers are not required to provide lockbox access. You can agree in writing to appointment-only showings instead.

Will buyers see the details of other offers?
No. Buyers who made a written offer can learn how many competing offers there are, but the details are only shared with your written direction, and personal information is never shared.

Do I pay tax when I sell my condo in Toronto?
If the condo was solely your principal residence for every year you owned it, the CRA says you generally pay no tax on the gain, but you must still report the sale. Different rules can apply if you owned it for less than 365 days. Confirm with your accountant.

Thinking about selling your condo?

If you are weighing a sale, we are happy to walk through the steps with you and talk about your building and your timing. Connect with The Starke Group whenever you are ready.