How much will I net in the sale of my home?

A common question any seller will ask when considering the sale of their home is “How much am I going to net?”

This is a logical question after all this is a large investment. How much a seller is netting often determines their next purchase. The one thing to keep in mind is each state is different with fees that are commonly paid. Real estate is local and a net sheet may vary from state to state and is good to understand the net for the state you live in.

I have several on-line programs from local Title Companies (Independence Title, First National Title Insurance Company) that calculate a net sheet and I always provide one my sellers before going to market. No need for surprises at closing time. These programs are intended to help property owners understand a reasonable estimate of closing costs and net proceeds from the sale of their property, but can differ depending on variances.

A rule of thumb in our area that always comes out spot on (give or take $100) is with a 6% listing commission there will be another 1% for title policy and ancillary fees. That does not include the seller’s share of property taxes or an amount for repairs. Those are two unknowns.

A home residing in a Mandatory HOA will have additional closing fees to pay the management company at closing as well as if a seller is paying for a residential home warranty for one year for the buyer.

If the homeowner has a mortgage this is the last thing to determine when determining the final proceeds due the seller. Sellers need to remember if closing on a day during the month, your last payment was for the previous month (you are always paying in arrears). You will still owe for the days in that month and the lender will collect from you at closing.

I am a recognized professional in NW Austin real estate. I’m a good listener and act, not react to your needs. I have systems in place, references at hand and proven solutions to getting your home sold. I will guide you through the process answering any and all questions. Reach out to me at 512-346-1799 or email at dillard@reloaustin.com for an insightful conversation about the marketability of your home. I offer professional guidance for residential home sellers and buyers.

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