Before the offers start rolling in, be prepared for the large amounts of money that will pass through your hands. However, don't forget to take these things into consideration:

Discharge mortgage

This refers to using the proceeds from the sale of your home to discharge or pay off your current mortgage. In an open mortgage, you can pay it all off without any penalties. If you have a closed mortgage, be prepared to pay a penalty.

Portable mortgage

A portable mortgage means you can take your mortgage money with you and buy a new home, without penalty.

Capital gains tax

If you had tenants living in part of your home, such as the basement, you'll pay capital gains tax on a portion of your profits. You may also owe capital gains tax if you're selling a vacation or investment property.

Always consult a professional financial advisor before making personal financial decisions.