Sell My House Net Proceeds Calculator
Use this calculator to estimate the net proceeds you might receive from selling your house. It takes into account your estimated selling price, outstanding mortgage, real estate agent commissions, closing costs, and any additional expenses like repairs or staging.
Estimated Sale Summary:
Total Selling Price:
Total Selling Costs:
Outstanding Mortgage Payoff:
Estimated Net Proceeds:
function calculateNetProceeds() {
var estimatedSellingPrice = parseFloat(document.getElementById('estimatedSellingPrice').value);
var outstandingMortgage = parseFloat(document.getElementById('outstandingMortgage').value);
var agentCommissionRate = parseFloat(document.getElementById('agentCommissionRate').value);
var sellerClosingCostRate = parseFloat(document.getElementById('sellerClosingCostRate').value);
var repairRenovationCosts = parseFloat(document.getElementById('repairRenovationCosts').value);
var stagingMarketingCosts = parseFloat(document.getElementById('stagingMarketingCosts').value);
var otherSellerConcessions = parseFloat(document.getElementById('otherSellerConcessions').value);
// Validate inputs
if (isNaN(estimatedSellingPrice) || estimatedSellingPrice < 0) {
alert('Please enter a valid Estimated Selling Price.');
return;
}
if (isNaN(outstandingMortgage) || outstandingMortgage < 0) {
alert('Please enter a valid Outstanding Mortgage Balance.');
return;
}
if (isNaN(agentCommissionRate) || agentCommissionRate < 0) {
alert('Please enter a valid Real Estate Agent Commission Rate.');
return;
}
if (isNaN(sellerClosingCostRate) || sellerClosingCostRate < 0) {
alert('Please enter a valid Seller\'s Closing Costs rate.');
return;
}
if (isNaN(repairRenovationCosts) || repairRenovationCosts < 0) {
alert('Please enter valid Repair/Renovation Costs.');
return;
}
if (isNaN(stagingMarketingCosts) || stagingMarketingCosts < 0) {
alert('Please enter valid Staging/Marketing Costs.');
return;
}
if (isNaN(otherSellerConcessions) || otherSellerConcessions < 0) {
alert('Please enter valid Other Seller Concessions.');
return;
}
// Calculations
var agentCommission = estimatedSellingPrice * (agentCommissionRate / 100);
var sellerClosingCosts = estimatedSellingPrice * (sellerClosingCostRate / 100);
var totalSellingCosts = agentCommission + sellerClosingCosts + repairRenovationCosts + stagingMarketingCosts + otherSellerConcessions;
var netProceeds = estimatedSellingPrice – totalSellingCosts – outstandingMortgage;
// Display results
document.getElementById('totalSellingPriceOutput').innerText = '$' + estimatedSellingPrice.toLocaleString('en-US', { minimumFractionDigits: 2, maximumFractionDigits: 2 });
document.getElementById('totalSellingCostsOutput').innerText = '$' + totalSellingCosts.toLocaleString('en-US', { minimumFractionDigits: 2, maximumFractionDigits: 2 });
document.getElementById('outstandingMortgageOutput').innerText = '$' + outstandingMortgage.toLocaleString('en-US', { minimumFractionDigits: 2, maximumFractionDigits: 2 });
document.getElementById('netProceedsOutput').innerText = '$' + netProceeds.toLocaleString('en-US', { minimumFractionDigits: 2, maximumFractionDigits: 2 });
}
// Run calculation on page load with default values
window.onload = calculateNetProceeds;
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Understanding Your Net Proceeds from a Home Sale
Selling a house involves more than just finding a buyer and agreeing on a price. There are numerous costs that can significantly impact the final amount of cash you walk away with, known as your net proceeds. This calculator helps you get a clear picture of these expenses.
Key Factors in Calculating Net Proceeds:
- Estimated Selling Price: This is the price you anticipate your home will sell for. It's crucial to research comparable sales in your area and consider your home's condition and features.
- Outstanding Mortgage Balance: The remaining amount you owe on your home loan. This will be paid off from the sale proceeds.
- Real Estate Agent Commission Rate: Typically, sellers pay the commission for both their agent and the buyer's agent. This is usually a percentage of the selling price (e.g., 5-6%).
- Seller's Closing Costs: These are various fees associated with finalizing the sale, which can include title insurance, escrow fees, transfer taxes, attorney fees, and recording fees. They often range from 1% to 3% of the selling price.
- Repair/Renovation Costs: Any money you spend to fix up your home before listing it or to address issues found during a home inspection.
- Staging/Marketing Costs: Expenses for professional staging, photography, virtual tours, or other marketing efforts to make your home more appealing to buyers.
- Other Seller Concessions: Sometimes, sellers agree to pay for certain buyer costs (e.g., a portion of the buyer's closing costs) or offer credits to sweeten the deal.
Why is this Calculator Important?
Knowing your estimated net proceeds helps you:
- Budget for your next home: Understand how much capital you'll have available for a down payment or other expenses.
- Set a realistic selling price: Factor in all costs to ensure your asking price meets your financial goals.
- Negotiate effectively: Be aware of your bottom line during negotiations with potential buyers.
- Plan for unexpected costs: Selling a home can have unforeseen expenses; this calculator provides a solid baseline.
Example Scenario:
Let's say you're selling your house for an estimated $450,000. You still owe $200,000 on your mortgage. Your real estate agent charges a 5% commission, and you anticipate 2% in seller's closing costs. You spent $5,000 on minor repairs, $1,000 on staging, and agreed to $2,000 in buyer concessions.
- Estimated Selling Price: $450,000
- Outstanding Mortgage: $200,000
- Agent Commission (5% of $450,000): $22,500
- Seller's Closing Costs (2% of $450,000): $9,000
- Repair/Renovation Costs: $5,000
- Staging/Marketing Costs: $1,000
- Other Seller Concessions: $2,000
- Total Selling Costs: $22,500 + $9,000 + $5,000 + $1,000 + $2,000 = $39,500
- Net Proceeds: $450,000 (Selling Price) – $39,500 (Total Costs) – $200,000 (Mortgage) = $210,500
This example demonstrates how various costs can reduce your final take-home amount. Always consult with a real estate professional and financial advisor for personalized advice.