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Estimating Your 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
- Attorney's fees, if any
- Unpaid property taxes
In addition, we can tell you whether local customs or rules expects the buyer or seller to pay for the following items:
- Title insurance premium
- Transfer taxes
- Survey fees
- 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. I will 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.
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Trade/service marks are the property of Michael Lyons, and/or its subsidiaries. UpFront Approval subject to satisfactory property review and no change in financial condition. Some products may not be available in all states. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation. |
Prudential Prime Properties is a full service real estate agency helping residential customers with the buying and selling of single family homes, condominiums, lofts, and properties in Boston. If you are searching for a Boston Real Estate Company, Boston Realtor or a Boston Real Estate Agent, Prudential Prime Properties is the destination for all your Boston Real Estate needs.
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