𝐇𝐨𝐦𝐞 𝐒𝐞𝐥𝐥𝐞𝐫𝐬 – 𝐀𝐬𝐤 𝐲𝐨𝐮𝐫 𝐑𝐞𝐚𝐥𝐭𝐨𝐫 𝐭𝐨 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐧𝐞𝐭 𝐬𝐞𝐥𝐥𝐞𝐫 𝐩𝐫𝐨𝐜𝐞𝐞𝐝𝐬 𝐩𝐫𝐢𝐨𝐫 𝐭𝐨 𝐥𝐢𝐬𝐭𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐡𝐨𝐦𝐞
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.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐧𝐞𝐭 𝐬𝐞𝐥𝐥𝐞𝐫 𝐩𝐫𝐨𝐜𝐞𝐞𝐝𝐬?
”Net 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.”
𝐒𝐞𝐥𝐥𝐢𝐧𝐠 𝐩𝐫𝐢𝐜𝐞 & 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞
- Desired sale price
- Remaining mortgage owed (including any prepayment penalties, if applicable)
𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐩𝐫𝐞-𝐥𝐢𝐬𝐭 𝐩𝐫𝐞𝐩𝐚𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐫𝐞𝐩𝐚𝐢𝐫𝐬
”This 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 value”
- 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)
𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐜𝐨𝐬𝐭𝐬
”Costs you incur as a homeowner during the time you are on market”
- Monthly mortgage payments
- Homeowners insurance
- Property taxes
𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐜𝐨𝐬𝐭𝐬
𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐜𝐥𝐨𝐬𝐢𝐧𝐠 𝐜𝐨𝐬𝐭𝐬
- 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.
Torben Yjord-Jackson – Realtor
EXP Realty of CA, Inc.