Once you have an estimate of your home's market value, your REALTORS® can furnish you with a rough idea of how much cash you might walk away with when the sale is completed. This is extremely useful as you begin your search for a new home.
From the estimated sale price, subtract:
- The payoff on your present mortgage and loans
- Broker's fee
- Prepayment penalties that might be on your present mortgage
- Attorney's fees, if any
- Unpaid property taxes
In addition, your REALTOR® can tell you whether local customs expect the buyer or the seller to pay the following.
- Title Insurance premium
- Survey fees
- Transfer taxes
- Inspections and repairs for termites, etc.
- Recording fees
- Homeowner Association transfer fees and document preparation
- Home Warranties
- Heating and cooling system inspection