Home Sale Proceeds Calculator

The price your home sells for will have the biggest impact on how much money you receive after selling. And the real estate agent you decide to sell with will play a big part in this. The final price your home sells at will be the first number used to calculate your net proceeds.

The payoff for your mortgage is handled by the escrow officer and includes the remaining balance and any miscellaneous fees the lender may charge. The escrow officer will deduct this amount from your sale price when calculating your proceeds.

In a traditional home sale, the seller pays the commission to their listing agent as well as the commission to the buyer's agent. The total is in the 5-6% range and is negotiable. Our home sale calculator shows the real estate agent commission split and allows you to edit the amount in either field. The total amount you pay will most likely be the biggest cost selling your house, but the right agent can drastically increase your proceeds, easily justifying the cost.

The escrow company is the neutral third party between the buyer and seller. They hold the buyer's deposit and distribute funds to all related parties once the sale of your home is official. Some of these include paying off your mortgage, real estate agent fees, and property taxes. The escrow company charges a fee for doing this, which can be based on a percentage of the purchase price or a flat fee. You'll see this on your closing statement as a cost that is deducted from your net proceeds.

Title insurance, also known as an "owner's policy,” is usually paid for by the seller and protects the buyer from any liens and any competing claims of an ownership interest after the sale closes. This can also help the seller avoid issues that may come up after closing, which is why most will include it, even though it's not a required cost when selling your home.

Transfer taxes are the taxes paid to local governments when the title of a home is transferred from the seller to the buyer. These fees are paid to the county and city where the property resides, but not all counties and cities require them. The amount of these transfer taxes are based on a percentage of the sale price. You can check the percentage for your area, and then edit this field when using our house sale calculator to see how this will impact the net proceeds from your home sale.

If you're selling a home in one of the following states, then you're required to hire an attorney at closing: Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, North Dakota, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, West Virginia, or the District of Columbia.

Typically, you'll need an attorney for several hours toward the end of the process and will pay by the hour. Most will allow you to pay through your proceeds at closing.

Concessions are a credit from the seller to the buyer, usually for closing costs. This is more common when it's a buyer's market and almost always happens when negotiating with the buyer before their offer is accepted. If this happens, you'll see this on your closing statement as a debit from your proceeds that is being applied as a credit to the buyer.

If your property is part of a homeowners association, then you'll have to pay a prorated portion of your HOA fees. You may also have to pay an HOA transfer fee and an upfront cost for the HOA documents that are provided to the buyer. These depend on the area you live in and would be additional costs when selling.

You don't need to worry about how your property taxes get paid when selling. Whether you pay this twice a year or have them included in your mortgage payment, the escrow company will ensure that the prorated amount is either credited or reduced from the amount you'll make selling your home. The prorated portion of your property taxes isn't considered a "closing cost” per se, but it is a dollar amount that the escrow officer will need to calculate and take out of the profits from your home sale.

If you have claimed your home as your primary residence for two out of the last five years, then you should be exempt from having to pay a capital gains tax on all or part of your proceeds. But you can expect to pay this if this is not the case, or if the profit from your home sale exceeds $250,000 (for single filers) or $500,000 (for married or joint filers). If you do have to pay anything, you'll do so when filing your taxes the following year. You should seek advice from your tax person to get a better idea of how capital gains taxes can impact how much you'll actually make selling your house.

A home warranty is a policy for the buyer that covers certain things in the home during the first year. Some of these include appliances, heating/air conditioning, and more. This is negotiable between you and the buyer. If you agree to pay for it, then you can add this to the cost of selling your house and as an additional item that will be deducted from your net proceeds.

Having an inspection done before putting your house on the market can increase the money you'll make from selling your home. It gives the buyer critical information they need so that they can make their best offer, and it reduces the chances of them asking you to make repairs after the contract is ratified. You can pay for this up front, or in some cases, you can have it paid through the net proceeds of your sale.

Your home doesn't need to be in tip-top condition, but buyers do want a home without an extended list of needed repairs and improvements. You can seek advice from your real estate agent to determine which ones are worth making. You can also use our home value estimator to find the best upgrades for your exact home and see which ones will pay off. Repairs and improvements are costs you'll want to consider when calculating how much you'll profit selling your house.

Staging can help boost your selling price, which can maximize your profit. The cost depends on your interior square footage and whether or not you're living in your home while it's listed. The costs for full staging can range from about a thousand to several thousand dollars. Some staging companies will require an upfront payment, while others will allow you to make payment through the proceeds of your home sale.