Selling your house/property can be an overwhelming experience. Knowing what you will receive after paying your closing expenses is important. Maybe you are looking to move into a new house and need to ensure the proceeds from the sale of your home will cover the down payment on your new home. Maybe you are selling your house after owning a short time and need to know if you will need to bring money to closing to cover a loss, or want to avoid a loss. Whatever the situation, TitleQuest has your back! We have developed a calculator that will help you estimate how much you can expect to spend on closing costs and what your net seller proceeds will be.
Closing costs for the seller are determined by adding all the expenses a seller customarily pays for at closing. These costs are then subtracted from the selling price along with the payoffs of any existing loans, liens, or judgments you must pay, to get your total net proceeds. A seller is expected to pay realtor commissions; seller’s settlement fee, deed preparation, grantors/transfer taxes; recording fees, prorated real estate taxes and other agreed to expenses in the contract*.
After you have input the required information into the calculator, voila—the final closing costs will be calculated! Now, thanks to TitleQuest, you can plan your next steps accordingly.