One of the most frequently asked questions and maybe the most important questions home sellers asks is, “How much money am I going to walk away with?” For good reason, there are several costs involved. Some a seller almost always pays and others that can be negotiated.
Once you have sat down with a Realtor and seen what a fair market value of your property can be, 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 price, subtract the applicable costs in the 3 sections below:
Seller’s costs, Shared costs (Buyer’s/Seller’s costs) and Closing costs.
Seller’s Costs: (almost always paid by seller)
Subtract the following costs as applicable.
- payoff figure on your present loan(s)
- broker’s commission
- prepayment penalty on your mortgage
- unpaid property taxes
- any other liens on the property
Buyer’s/Seller’s Costs: (shared costs: who pays what can be negotiated)
These items are almost always negotiated and we can assist you in a fair agreement with a buyer.
- title insurance premium (seller usually pays)
- transfer taxes (seller usually pays)
- survey fees (seller usually pays)
- inspections and repairs for termites, etc. (seller usually pays)
- recording fees (buyer usually pays)
- Homeowner Association transfer fees and document preparation (seller usually pays)
- home protection plan (seller usually pays)
- natural hazard disclosure report (seller usually pays)
Additional closing costs can include:
- escrow fees (usually split 50/50)
- lender fees (buyer usually pays)
- misc. lender fees (buyer usually pays)
We can provide you a specific Sellers Closing Net Sheet for your property. Contact us and we’ll be happy to assist you.
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Orange County Homes For Sale
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