You might be considering how much you can make on your house sale if you are thinking of selling it.
You will need to know the value of your house and all associated costs such as closing costs, real estate commissions, taxes, etc. in order to calculate this.
The table below gives an example of how to calculate potential profits when selling a house. Below, we’ll go deeper.
Image: calculating-net-proceeds-from-a-home-sale
How do you calculate net proceeds from home sales
After all fees, commissions, and closing costs are paid, net proceeds is the amount of profit a home seller keeps. Other than real estate agent commissions and transfer taxes, seller credits, and attorney fees, closing costs that sellers may face include the payment of closing costs. Remember that your lender will still require you to pay the remaining mortgage.
Here’s an easy way to do the math quickly.
Image: hl_homeproceeds
Find out more about selling your house.
What is the value of my home?
You can either look at similar homes in your area or talk to a realty agent to get an idea of the value of your home.
These are just a few of the other options you have.
|
Resource |
Where can I find it |
What it can do |
|
Credit Karma Homepulse |
Credit Karma allows you to track the estimated value of your home | This data includes thousands of pieces of information such as the most recent sales prices, square footage and lot size, and the number of bedrooms and bathrooms in order to estimate your home’s value. |
|
Real estate data |
Online reputation sites | Reputable websites can give an estimate of the value of your home based on data such as square footage, sales prices and current housing market trends. |
|
Appraisal |
Appraiser credentialed local | The appraiser can either visit your home to complete a written appraisal or just examine the exterior of your home while taking into account the features and square footage of the house, as well as recent sales in the area. |