๐๐จ๐ฆ๐ ๐๐๐ฅ๐ฅ๐๐ซ๐ฌ – ๐๐ฌ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐๐๐๐ฅ๐ญ๐จ๐ซ ๐ญ๐จ ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ง๐๐ญ ๐ฌ๐๐ฅ๐ฅ๐๐ซ ๐ฉ๐ซ๐จ๐๐๐๐๐ฌ ๐ฉ๐ซ๐ข๐จ๐ซ ๐ญ๐จ ๐ฅ๐ข๐ฌ๐ญ๐ข๐ง๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐
You should have an estimate as to what your net proceeds are going to be when selling your home. I’ve broken down what’s included in the calculation of net seller proceeds below.
๐๐ก๐๐ญ ๐๐ซ๐ ๐ง๐๐ญ ๐ฌ๐๐ฅ๐ฅ๐๐ซ ๐ฉ๐ซ๐จ๐๐๐๐๐ฌ?
โNet proceeds are the total dollar amount a home seller receives from the sale of a house after accounting for all expenses like holding costs, commissions, and fees incurred during the sale.โ
๐๐๐ฅ๐ฅ๐ข๐ง๐ ๐ฉ๐ซ๐ข๐๐ & ๐ฆ๐จ๐ซ๐ญ๐ ๐๐ ๐
- Desired sale price
- Remaining mortgage owed (including any prepayment penalties, if applicable)
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐ฉ๐ซ๐-๐ฅ๐ข๐ฌ๐ญ ๐ฉ๐ซ๐๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐ซ๐๐ฉ๐๐ข๐ซ๐ฌ
โThis factors in any work you need to do or choose to complete prior to listing your home for sale. Make sure to discuss these projects with your realtor so you can make impactful decisions that bring valueโ
- Home improvements
- Cleaning & preparation
- Pre-listing inspections (if you and your realtor discuss and choose it’s best to have them done prior to listing the home)
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐ก๐จ๐ฅ๐๐ข๐ง๐ ๐๐จ๐ฌ๐ญ๐ฌ
โCosts you incur as a homeowner during the time you are on marketโ
- Monthly mortgage payments
- Homeowners insurance
- Property taxes
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐ญ๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐จ๐ฌ๐ญ๐ฌ
- Moving
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐๐ฅ๐จ๐ฌ๐ข๐ง๐ ๐๐จ๐ฌ๐ญ๐ฌ
- Realtor/broker commissions
- Title, escrow & recording fees
- Taxes (sellers usually pay local transfer taxes & property taxes get prorated.)
Depending on your gains and how long you have owned the property being sold you may be required to pay short-term capital gains taxes and or state withholding taxes.
When working with me I will always supply you with a breakdown of your estimated net proceeds prior to listing your home and will submit an additional updated breakdown prior to closing.
If you have any questions, don’t hesitate to reach out via text, call, email, or on social media.
๐ฒ(415) 259-8088
โจ๏ธtorben@thriveinmarin.com
๐ปwww.thriveinmarin.com
Torben Yjord-Jackson – Realtor
EXP Realty of CA, Inc.
CalBRE 02050831
