ESTIMATING 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 yoru mortgage
• Attorney fees, if any
• Unpaid utilities & property taxes

In addition, I can tell you whethe local customs or rules expects the Buyer or Seller to pay for the following items:

• Title insurance premium
• Transfer taxes
• Survey fees
• Inspections & repairs for termites and the like
• Recording fees
• Homeowner Association transfer fees & document preparation
• Home warranty plan
• Various misc. expenses such as notary, tax & domestic relation certifications

As far as closing costs are concerned, you and your eventual Buyer may agree on any arrangement that suits you, no matter what the local practice dictates. I can assist you in estimating what your final costs will be.  It is difficult to predict what the exact closing costs will be when you negotiate with a particular Buyer.