Home Sale Proceeds Calculator
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Estimated Net Proceeds
$0.00
Understanding Your Home Sale Proceeds
Selling a home is a significant financial transaction. Understanding the net proceeds—the amount of money you'll actually walk away with after all expenses are paid—is crucial for your financial planning, whether you're buying a new home, investing, or settling debts. This calculator helps you estimate that amount.
How is Net Proceeds Calculated?
The calculation is straightforward but involves several key components:
- Sale Price: This is the agreed-upon price at which your home is sold.
- Real Estate Commissions: Typically a percentage of the sale price paid to the real estate agents involved (buyer's agent and seller's agent). A common rate is between 4% and 6%.
- Closing Costs: These are fees associated with finalizing the sale. They can include title insurance, escrow fees, attorney fees, recording fees, transfer taxes, and potentially home inspection or appraisal fees if paid by the seller. These can vary significantly by location and sale specifics.
- Outstanding Mortgage Balance: The remaining amount owed on your current mortgage. This amount is paid off directly to the lender at closing.
- Other Costs/Credits: This category can include various other expenses or adjustments. Examples include seller concessions (contributions to buyer's closing costs), repair costs agreed upon during negotiations, HOA transfer fees, or any prepaid property taxes or homeowner's insurance.
The formula used by this calculator is:
Net Proceeds = Sale Price - (Sale Price * (Real Estate Commissions / 100)) - Closing Costs - Outstanding Mortgage Balance - Other Costs/Credits
Example Calculation
Let's walk through an example:
- You sell your home for $500,000.
- The agreed-upon real estate commission is 5%.
- Your estimated closing costs are $8,000.
- You have an outstanding mortgage balance of $300,000.
- Other costs (like a small repair credit) amount to $2,000.
Calculation:
- Commission Amount: $500,000 * (5 / 100) = $25,000
- Total Expenses: $25,000 (Commissions) + $8,000 (Closing Costs) + $300,000 (Mortgage) + $2,000 (Other Costs) = $335,000
- Net Proceeds: $500,000 (Sale Price) – $335,000 (Total Expenses) = $165,000
In this scenario, your estimated net proceeds from the home sale would be $165,000.
Important Considerations
This calculator provides an estimate. Actual proceeds may differ due to:
- Fluctuations in final closing costs.
- Negotiated changes in commission rates or seller concessions.
- Unforeseen expenses or credits.
- Capital Gains Tax: Depending on your location and how long you've owned the home, you may owe capital gains tax on your profit. This calculator does not include tax calculations. Consult a tax professional for advice.
Always consult with your real estate agent, escrow officer, and a financial advisor for the most accurate figures and personalized advice regarding your home sale.
function calculateProceeds() {
var salePrice = parseFloat(document.getElementById("salePrice").value);
var realEstateCommissionsPercent = parseFloat(document.getElementById("realEstateCommissions").value);
var closingCosts = parseFloat(document.getElementById("closingCosts").value);
var outstandingMortgage = parseFloat(document.getElementById("outstandingMortgage").value);
var otherCosts = parseFloat(document.getElementById("otherCosts").value);
var errorMessageElement = document.getElementById("errorMessage");
if (errorMessageElement) {
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}
var errorMessages = [];
if (isNaN(salePrice) || salePrice <= 0) {
errorMessages.push("Please enter a valid Sale Price.");
}
if (isNaN(realEstateCommissionsPercent) || realEstateCommissionsPercent < 0) {
errorMessages.push("Please enter a valid percentage for Real Estate Commissions (0 or greater).");
}
if (isNaN(closingCosts) || closingCosts < 0) {
errorMessages.push("Please enter a valid amount for Closing Costs (0 or greater).");
}
if (isNaN(outstandingMortgage) || outstandingMortgage < 0) {
errorMessages.push("Please enter a valid amount for Outstanding Mortgage Balance (0 or greater).");
}
if (isNaN(otherCosts) || otherCosts 0) {
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document.querySelector(".calculator-inputs").insertBefore(errorDiv, document.querySelector(".calculator-actions"));
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return;
}
var commissionAmount = salePrice * (realEstateCommissionsPercent / 100);
var totalExpenses = commissionAmount + closingCosts + outstandingMortgage + otherCosts;
var netProceeds = salePrice – totalExpenses;
// Ensure net proceeds is not negative for display, though it can be a negative value
var displayNetProceeds = netProceeds < 0 ? 0 : netProceeds;
document.getElementById("netProceeds").innerText = "$" + displayNetProceeds.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 });
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}