Read more
sale price, that’s $9,000 in fees coming out. Builder commissions on newer homes run even higher around 5-7% usually. Build all commissions into your net calculation upfront.
Deduct Remaining Mortgage Debt
To determine true net sale proceeds, the entire mortgage balance not yet paid off must be deducted from the anticipated transaction amount, less realtor commissions. Query your lender for current principal still owed on the home to incorporate within final profit projections. Every dollar still owed the bank equates to one less dollar earned through the sale.
Utilizing this methodology delivers quite accurate net sale proceeds estimates that facilitates major financial decisions for homeowners weighing relocations, upgrades to larger homes or transitions into rental properties. Consult real estate professionals as well to validate projections and maximize ultimate sale prices in current market conditions. The more information, the better during this planning phase.
0 Reviews