The savings equal 1.925% of your existing mortgage balance (for loans over $500K). If your remaining balance is $800,000, the buyer saves approximately $15,400 in mortgage recording tax - they only pay MRT on the new money above your existing balance. On high-value properties with large existing mortgages, this can exceed $30,000. That is a material competitive advantage over comparable listings that cannot offer CEMA facilitation.
This article provides general educational information only. It is not legal, tax, financial, insurance, compliance, housing, brokerage, or professional advice. Rules, tax rates, obligations, enforcement practices, and market conditions vary by property, building, contract, municipality, and jurisdiction, and they change. Sellers should consult a qualified attorney, CPA, or other appropriate professional before making decisions based on their specific situation.
From the seller playbook: CEMA Strategy from the Seller Side
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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