Selling a House Calculator
:root {
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font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
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margin: 0;
padding: 20px;
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max-width: 800px;
margin: 30px auto;
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padding: 30px;
border-radius: 8px;
box-shadow: 0 4px 15px rgba(0, 0, 0, 0.1);
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h1, h2 {
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font-weight: 600;
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#result {
margin-top: 30px;
padding: 25px;
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/* Responsive Adjustments */
@media (min-width: 768px) {
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Selling a House Calculator
Understanding Your Net Proceeds from Selling a House
When you sell your house, the "selling price" isn't the amount of money you walk away with. Numerous costs and fees are associated with the transaction. This calculator helps you estimate your net proceeds – the actual cash you'll receive after all expenses are paid. Understanding these figures is crucial for financial planning, whether you're buying a new home, investing, or managing your personal finances.
How the Calculation Works:
The net proceeds are calculated by subtracting all selling-related expenses from the final selling price. Here's a breakdown of the components:
-
Selling Price: This is the agreed-upon price at which your home is sold to the buyer.
-
Real Estate Agent Commission: Typically, this is a percentage of the selling price, paid to the agents representing both the buyer and the seller. The rate can vary by region and agreement.
-
Closing Costs: These are a broad category of fees that cover various services and administrative tasks needed to finalize the sale. They can include title insurance, escrow fees, transfer taxes, recording fees, attorney fees, and buyer's closing cost contributions (if negotiated). These are often estimated as a fixed dollar amount.
-
Remaining Mortgage Balance: If you still have a mortgage on the property, the outstanding loan amount must be paid off at closing.
-
Other Expenses: This category can encompass a range of costs such as repairs made to prepare the home for sale, staging costs, moving expenses, or any outstanding property taxes or HOA fees.
The formula used by this calculator is:
Net Proceeds = Selling Price - (Selling Price * (Commission Rate / 100)) - Closing Costs - Remaining Mortgage Balance - Other Expenses
Why Use This Calculator?
- Financial Planning: Accurately estimate the funds available for your next purchase or investment.
- Negotiation Power: Understand your financial position to negotiate effectively on repairs or closing costs.
- Budgeting: Allocate funds for moving, down payments, or other post-sale needs.
- Informed Decisions: Make smarter choices about when and how to sell your property.
Remember, this calculator provides an estimate. Actual costs can vary, and it's always advisable to consult with your real estate agent and a financial advisor for precise figures.
function calculateNetProceeds() {
var sellingPrice = parseFloat(document.getElementById("sellingPrice").value);
var commissionRate = parseFloat(document.getElementById("commissionRate").value);
var closingCosts = parseFloat(document.getElementById("closingCosts").value);
var mortgageBalance = parseFloat(document.getElementById("mortgageBalance").value);
var otherCosts = parseFloat(document.getElementById("otherCosts").value);
var resultValue = "–";
var isValid = true;
if (isNaN(sellingPrice) || sellingPrice < 0) {
alert("Please enter a valid Selling Price.");
isValid = false;
}
if (isNaN(commissionRate) || commissionRate 100) {
alert("Please enter a valid Commission Rate between 0 and 100.");
isValid = false;
}
if (isNaN(closingCosts) || closingCosts < 0) {
alert("Please enter a valid Closing Costs amount.");
isValid = false;
}
if (isNaN(mortgageBalance) || mortgageBalance < 0) {
alert("Please enter a valid Remaining Mortgage Balance.");
isValid = false;
}
if (isNaN(otherCosts) || otherCosts < 0) {
alert("Please enter a valid Other Expenses amount.");
isValid = false;
}
if (isValid) {
var commissionAmount = sellingPrice * (commissionRate / 100);
var totalExpenses = commissionAmount + closingCosts + mortgageBalance + otherCosts;
var netProceeds = sellingPrice – totalExpenses;
// Ensure net proceeds aren't negative in display, though the calculation allows it
if (netProceeds < 0) {
netProceeds = 0; // Or you could display the negative value to show debt
}
resultValue = "$" + netProceeds.toFixed(2);
}
document.getElementById("result-value").innerText = resultValue;
}