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 helpful if you are looking for another home
to buy.
From the estimated sales price, subtract the following:
- Pay off figure on your present mortgage if you still
owe one.
- Broker's commission;
- Any prepayment penalty on your mortgage;
- Attorney's fees, if any;
- Unpaid property taxes. Sewer bills, water bills,
et cetera that you might still owe;
In addition, we can tell you whether local customs expects the buyer or seller to
pay for the following items:
- Title insurance premium;
- Transfer taxes;
- Survey fees;
- Building inspections fees;
- Recording fees;
- Homeowner Association transfer fees and document
preparation if any;
- Home protection plan; and
- Any natural hazard disclosure reports — such as Radon
gas, mould, et cetera.
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