Selling your home often creates expectations of a significant financial windfall, especially in today’s robust real estate market. However, the sale price only tells part of the story. To accurately calculate your net proceeds—the amount you’ll actually receive at closing—you need to account for various expenses that reduce your gross sale amount. The primary deduction will be your remaining mortgage balance, which must be paid in full from the proceeds. Additionally, seller closing costs typically range from 8-10% of the sale price, including real estate agent commissions (usually 5-6%), title insurance, transfer taxes, attorney fees, and potential home warranty offerings for buyers.
Property condition can also impact your bottom line. If your home inspection reveals necessary repairs, you might negotiate price reductions or agree to cover repair costs. Some sellers choose to invest in pre-listing improvements to increase their home’s marketability and value. While potentially beneficial, these expenses should be factored into your net proceeds calculation. Similarly, timing considerations like potential capital gains taxes (if you’ve lived in your home less than two years) or costs associated with a delayed closing should be incorporated into your financial planning.
Calculating these variables manually can be challenging and prone to errors. That’s why Commodore Title offers our comprehensive Net to Seller Calculator, available 24/7 on our website. This user-friendly tool allows you to input your specific sale details—including sale price, outstanding mortgage balance, estimated closing costs, and potential concessions—to generate an accurate estimate of your net proceeds. Our calculator helps eliminate financial surprises at closing, allowing you to plan your next move with confidence. For personalized assistance navigating your closing calculations, contact our experienced team who are always ready to chart your course to a successful home sale.
