After I sell my home, how much will end up in my pocket?
Let me shed some light on your day.
There are three basic factors that affect your net at the end of the day. The first factor is your closing costs. This runs about 1% – 2% of your sales price and does not vary much, no matter what you do. The items included in your closing costs are:
- Title Insurance
- Escrow Fees
- Document preparation
- Bank Fees
- Transfer Taxes
- Prorated Property Taxes
The next factor is the commission you pay, typically between 5% and 6% of the sales price.
So, your total “costs” will fall between 6% and 8% of your sales price.
Most of the time, this question is asked without considering the REAL question.
How do I get the most money in my pocket?
You should always ask for what you want. If you want low cost, that is what you get. But, if you want high PROFIT, this how you get it!
- Invest in smart improvements like paint, landscape, cleaning and de cluttering
- Complete key maintenance projects
- Hire a Realtor who will MAKE you money, not just process paper.
Remember the three basic factors that affect your net at the end of the day? The first was closing costs, the second was commission. If those two add up to 8%, then the sales price is 92% of your net. The best way to net more money is to make sure you have the highest sales price!
Contact me for ideas on how to make YOUR sales price higher. email@example.com or 818-396-7588