If you are trying to figure out how much money you will make from selling your house, you will benefit from using a home sale calculator to determine your net proceeds. Using a calculator can give you a really good idea of the money you will have left after paying all of the necessary fees.
What is a Home Sale Calculator?
Selling a house is a huge decision, so it is important to know what it can look like for you. Even if you are just considering selling your home, having a solid estimate of the proceeds you could make can help you with that decision.
A home sale calculator takes important information like the possible sale price of the home, the commission you pay to real estate agents, your holding costs, and other transaction costs. This calculator will pop out an estimate of how much money you will have left over.
If you are just considering selling your house, a home sale calculator can let you know if you will make enough money from the sale to cover your mortgage after all other costs are considered.
What Information Do You Need?
When using a home sale calculator, you need to make sure you have information that is as accurate as possible. The first thing you need is the market value of your house. You can find this by researching similar houses in your neighborhood that have sold in the last three months.
You also need to consider the cost of repairs, if any, you are planning on making to the house before selling. Then take into consideration the realtor commission, closing costs, holding costs, and other transaction costs you might be responsible for. Also consider a seller concession, which is about a 1.5% price decrease for possible repairs found during inspection.
Where to Find a Home Sale Calculator
There are several home sale calculators out there that can help you figure out how much money you will actually make from selling your home. Some of these calculators can be found on home buying or selling websites or mortgage websites.
Sundae offers a great home sale calculator that is incredibly easy to use. You start with the market value of your home, which you can find by researching homes that have previous sold in your neighborhood similar to yours. You then enter the realtor commission percentage, closing cost percentage, and holding costs.
Once you have all of this information entered, Sundae will provide you with the net proceeds you will likely make from selling your home. Their calculator will instantly take your sale price and subtract all of the necessary costs.
Other home sale calculators operate in a very similar fashion. They could have other information needed like the total remainder of your mortgage, or they can spread out holding costs and transaction costs into multiple categories.
If you are in the process of selling your home, or you are considering selling your house, you will benefit from using a home sale calculator. This tool will give you a good idea of how much money you will actually make from selling your house. It takes into consideration all of the fees you will need to pay and the sale price of your home.
You can find a home sale calculator online on any of the popular home buying websites. One of the best websites to use is Sundae because they have a detailed breakdown of the information needed for the calculator. It is extremely easy to use and you will get an estimated net proceed amount within seconds.