Determining Your Net Proceeds

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:

  • 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