Want to know how much you’ll pocket from selling your home? I can’t know for certain without knowing specifics such as, selling price of your property, specific closing costs per lender, taxes due, and of course, outstanding balance on your existing home loan, BUT I can estimate what it’ll be.
One thing we can know for certain is how much hiring a 1% real estate broker will save you versus hiring a traditional real estate agent charging 3% to list your property. See below . . .
Selling a $500,000 home in King County yields the following:
Notice that just lowering commission from 3% to 1% saves you a whopping $10,000. We also reduced the selling office (buyer’s broker) commission to 2.5%, saving you another $2,500 for a total savings of $12,500!
(Click images to make larger.)
Just deduct your loan’s payoff balance from these “estimated net proceeds” sheets to estimate your net proceeds.
What could you do with an additional $12,500?
Pay down credit card debt? Pay your child’s tuition? Buy a new car? Let me know below!