Your estimated net proceeds after all expenses are deducted:$0.00
Understanding Your Selling a Home Calculator Results
Selling a home is a significant financial transaction. While the sale price is often the headline number, it's crucial to understand all the costs and deductions involved to accurately estimate your net profit. This calculator helps you break down those expenses and provides a clearer picture of your potential net proceeds.
How the Calculation Works
The calculator uses a straightforward formula to determine your estimated net proceeds from selling your home:
Net Proceeds = Sale Price – Agent Commissions – Closing Costs – Outstanding Mortgage – Other Selling Expenses
Estimated Sale Price: This is the agreed-upon price for your home.
Real Estate Agent Commission Rate: Typically, sellers pay a commission to their agent and the buyer's agent. This is usually a percentage of the sale price. For example, a 5% commission on a $500,000 sale would be $25,000.
Estimated Closing Costs: These are various fees associated with finalizing the sale. They can include title insurance, escrow fees, transfer taxes, recording fees, attorney fees, and sometimes seller concessions or prorated property taxes. The amount can vary significantly by location and the specifics of the deal.
Outstanding Mortgage Balance: This is the total amount you still owe on your current mortgage loan. This amount will be paid off from the sale proceeds.
Other Selling Expenses: This category accounts for any additional costs you might incur, such as minor repairs or staging needed to prepare the home for sale, moving expenses, or any pre-payment penalties on your mortgage.
Why Use This Calculator?
Financial Planning: Accurately estimate how much cash you'll walk away with after the sale, which is vital for planning your next move, whether it's buying another home or investing.
Negotiation Insights: Understanding your minimum acceptable sale price (after expenses) can give you confidence during negotiations.
Budgeting for Costs: Identify all potential expenses, helping you budget effectively and avoid surprises during the selling process.
Comparing Offers: Evaluate different offers not just on the headline price but also on their potential impact on your net proceeds.
Remember, this calculator provides an estimate. Actual costs can vary. It's always recommended to consult with your real estate agent and a financial advisor for personalized advice.
function calculateNetProceeds() {
var salePrice = parseFloat(document.getElementById("salePrice").value);
var commissionRate = parseFloat(document.getElementById("commissionRate").value);
var closingCosts = parseFloat(document.getElementById("closingCosts").value);
var outstandingMortgage = parseFloat(document.getElementById("outstandingMortgage").value);
var otherCosts = parseFloat(document.getElementById("otherCosts").value);
var netProceeds = 0;
// Input validation
if (isNaN(salePrice) || salePrice <= 0) {
alert("Please enter a valid Estimated Sale Price.");
return;
}
if (isNaN(commissionRate) || commissionRate < 0) {
alert("Please enter a valid Commission Rate (0% or higher).");
return;
}
if (isNaN(closingCosts) || closingCosts < 0) {
alert("Please enter a valid amount for Estimated Closing Costs (0 or higher).");
return;
}
if (isNaN(outstandingMortgage) || outstandingMortgage < 0) {
alert("Please enter a valid Outstanding Mortgage Balance (0 or higher).");
return;
}
if (isNaN(otherCosts) || otherCosts < 0) {
alert("Please enter a valid amount for Other Selling Expenses (0 or higher).");
return;
}
// Calculate agent commission amount
var commissionAmount = salePrice * (commissionRate / 100);
// Calculate total expenses
var totalExpenses = commissionAmount + closingCosts + outstandingMortgage + otherCosts;
// Calculate net proceeds
netProceeds = salePrice – totalExpenses;
// Ensure net proceeds are not negative, though it's possible to owe money
if (netProceeds < 0) {
netProceeds = 0; // Or could display as negative if desired for clarity
}
// Display the result
var formattedNetProceeds = "$" + netProceeds.toFixed(2).replace(/\d(?=(\d{3})+\.)/g, '$&,');
document.getElementById("finalNetProceeds").innerText = formattedNetProceeds;
document.getElementById("resultSection").style.display = "block";
}