How to Figure What you will net after closing on your Home

You have an offer on your Metro Detroit home, but how much will be left in your pocket? That's the key.   Here is a worksheet to figure that out. 


What You'll Net at Closing 
 
To find out how much money you'll net from your house, add up your closing costs and subtract them from the sale price of the house.   You should do this when you set the price and after you get an offer that way you will know roughly what your bottom line is.

What are your closing costs?

Mortgage payoff                                    ____________
Pro-rations for taxes                              ____________
Pro-rations for association dues              ____________
Water escrow                                        ____________
Owners title policy                                 ____________
Closing fee from title company               ____________
Home warranty                                     ____________
Real estate commission                         ____________
State Transfer tax                                 ____________
Closing Cost concessions to buyer           ____________


Total costs                                                   ____________ 

Sale price - total cost = net proceeds

 
This net sheet should help you determine what you walk away with from each offer that you receive.  It will help you make a sound decision on which offer to take. 

 

 

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