Estimating Net Proceeds

 
Once you have received an estimate of the market value of your house, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful when you start looking for another home to buy.

To estimate your net proceeds from the estimated sales amount, subtract the applicable costs in the three sections outlined below: seller’s costs, buyer’s/seller’s costs and closing costs.

Seller’s Costs: Subtract the following costs as applicable.

  • payoff figure on your present loan(s)
  • broker's commission
  • prepayment penalty on your mortgage
  • attorney's fees
  • unpaid property taxes

Buyer’s/Seller’s Costs: Additionally, we can tell you whether whether the buyer or seller pays for the items listed below based on County and State laws. Subtract the following costs, as applicable.

  • title insurance premium
  • transfer taxes
  • survey fees
  • inspections and repairs for termites, etc.
  • recording fees
  • Homeowner Association transfer fees and document preparation
  • home protection plan
  • natural hazard disclosure report

Closing Costs: As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you, no matter what local practice dictates. We can then will assist you in estimating what your final closing costs will be.