Untitled Document

Estimating Net Proceeds

Once you’ve been given an estimate of market value, 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 as you start looking for another home to buy.

From the estimated sales price, subtract:

Payoff figure on your present loan(s)
Broker's commission
Any prepayment penalty on your mortgage
Unpaid property taxes

In addition, there are other "closing costs" which need to be deducted and are specific to different areas. These costs may include, but are not limited to the following:

Escrow feed
Title insurance premium
Transfer taxes
Inspections and repairs for termites and the like
Recording fees
Homeowner Association transfer fees and document preparation
Home protection plan
Natural hazard disclosure report

As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you, no matter what local practice dictates. Jamie can assist you in estimating what your final closing costs will be. It is difficult to predict what the exact closing costs will be when you negotiate with a particular buyer, but a rough estimate may be helpful.

"This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. Properties offered are subject to errors, omissions, change of prices or withdrawal without notice."