Selling a house is a significant financial transaction. Beyond the agreed-upon sale price, there are numerous expenses that will reduce the amount of cash you actually receive. This House Sale Proceeds Calculator helps you estimate the net amount of money you can expect to walk away with after all associated costs are accounted for. Understanding these figures beforehand can help you plan for your next move, whether it's purchasing a new home, investing, or covering other financial goals.
How the Calculation Works
The calculator works by subtracting all the estimated costs from the gross sale price. Here's a breakdown of each component:
Sale Price: This is the price at which your home is sold to a buyer.
Outstanding Mortgage Balance: This is the total amount you still owe on your current mortgage. This balance will be paid off from the sale proceeds.
Realtor Commissions: Real estate agents typically charge a commission, usually a percentage of the sale price. This covers their services in marketing your home, finding a buyer, and managing the sale process. The formula used is: (Sale Price * Realtor Commissions %).
Estimated Closing Costs: These are fees charged by various parties involved in the sale (e.g., title insurance, escrow fees, transfer taxes, legal fees, recording fees). These are typically a fixed amount or a percentage of the sale price.
Other Costs: This category includes any additional expenses you might incur to sell your home, such as necessary repairs, staging, professional cleaning, moving expenses, or any homeowner association (HOA) transfer fees.
The net proceeds are calculated as follows:
Net Proceeds = Sale Price - Outstanding Mortgage Balance - (Sale Price * Realtor Commissions %) - Estimated Closing Costs - Other Costs
Why Use This Calculator?
This calculator is useful for:
Financial Planning: Knowing your estimated net proceeds helps you determine how much capital you'll have available for a down payment on a new home, investments, or other financial needs.
Negotiation: Understanding your costs can inform your negotiation strategy with potential buyers.
Budgeting: It provides a realistic expectation of your financial outcome from the sale, preventing surprises.
Comparing Scenarios: You can adjust figures to see how different sale prices or cost estimates would impact your final proceeds.
Disclaimer: This calculator provides an estimate for informational purposes only. Actual proceeds may differ based on the specifics of your transaction, market conditions, and the exact fees charged by service providers. It is advisable to consult with your real estate agent, mortgage lender, and a financial advisor for precise figures.
function calculateProceeds() {
var salePrice = parseFloat(document.getElementById("salePrice").value);
var outstandingMortgage = parseFloat(document.getElementById("outstandingMortgage").value);
var realtorCommissionsPercent = parseFloat(document.getElementById("realtorCommissions").value);
var closingCosts = parseFloat(document.getElementById("closingCosts").value);
var otherCosts = parseFloat(document.getElementById("otherCosts").value);
var proceeds = 0;
var realtorCommissionAmount = 0;
if (isNaN(salePrice) || salePrice < 0) {
alert("Please enter a valid Sale Price.");
return;
}
if (isNaN(outstandingMortgage) || outstandingMortgage < 0) {
alert("Please enter a valid Outstanding Mortgage Balance.");
return;
}
if (isNaN(realtorCommissionsPercent) || realtorCommissionsPercent 100) {
alert("Please enter a valid Realtor Commissions percentage between 0 and 100.");
return;
}
if (isNaN(closingCosts) || closingCosts < 0) {
alert("Please enter a valid Estimated Closing Costs amount.");
return;
}
if (isNaN(otherCosts) || otherCosts < 0) {
alert("Please enter a valid Other Costs amount.");
return;
}
realtorCommissionAmount = salePrice * (realtorCommissionsPercent / 100);
proceeds = salePrice – outstandingMortgage – realtorCommissionAmount – closingCosts – otherCosts;
// Ensure proceeds are not negative for display, though the actual value can be
var displayedProceeds = Math.max(0, proceeds);
document.getElementById("result-value").innerText = "$" + displayedProceeds.toFixed(2);
}