Estimating Net Proceeds
Once you’ve been given an estimate of market value, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful as you start looking for another home to buy.
From the estimated sales price, subtract:- Payoff figure on your present mortgage(s);
- Broker's commission;
- Any prepayment penalty on your mortgage;
- Attorney's fees, if any; and
- Unpaid property taxes.
- Goods & Services Tax;
- Property Purchase Tax;
- Survey Fees;
- Inspections and repairs;
- Recording Fees Searching Title, Drafting documents;
- Costs of clearing title;
- Appraisal Fee
- Home Insurance.