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Real Estate Guides Home Seller's Guide The Proceeds from Your Home Sale
Real Estate Guides Home Seller's Guide The Proceeds from Your Home Sale
Last Updated on Monday, 24 March 2008 15:22 Written by Administrator Thursday, 29 November 2007 13:26
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.
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 :
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; and |
| 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; and |
| 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. Your REALTOR® 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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In every transaction there is usually a request for repairs given to the seller by the buyer. The work order is usually backed up by a third party inspection report. The following is a list of some possible work orders. The work orders must be completed prior to closing and the seller is responsible for having them done. Check with your local authorities for specific requirements. 
A plan is something that most people over look when going into a new home purchase and if you don’t have one it could cost you lots and lots of money. A good REALTOR® will be able to help you with your plan. The biggest issue with your plan is TIME.