The Most Important Seller Question
This is one of the most important seller questions:
How much money do I actually get?
Because:
My house is worth $600,000
does not mean:
I receive $600,000.
Start With the Sale Price, Then Subtract
Start with sale price.
Then subtract whatever applies to your actual transaction.
Mortgage payoff.
HELOC or second loan.
Other valid liens.
Brokerage compensation under the agreement.
Seller concessions negotiated with the buyer.
Title and escrow-related charges.
Taxes or assessments.
HOA amounts.
Repair credits.
Other transaction-specific expenses.
The result is seller net.
Seller Net Can Change the Decision
And seller net can completely change the decision.
Suppose two offers arrive.
Offer A:
$600,000.
But the buyer requests $15,000 in seller concessions.
Offer B:
$592,000.
With much lower requested concessions.
The headline price tells only part of the story.
The estimated net may tell a different one.
Especially When You're Buying Next
This becomes even more important when the seller is buying another home.
If the next purchase requires $150,000 of equity from the current sale, we should know early whether that number is realistic.
A seller may discover they have much more usable equity than expected.
Or less.
Either way, it is better to know before writing the next purchase contract.
Run the Seller Net Calculator
Build the Seller Net Calculator prominently into this article.
Let the homeowner experiment.
What if I sell for $600,000?
What about $585,000?
What happens if I give a $10,000 credit?
What if my mortgage payoff is higher than I thought?
What if there's an HOA balance?
The calculator is not a final settlement statement.
But it turns vague equity into useful planning.
Try it now with the Seller Net Calculator.
Actual Settlement Figures Come Later
Once the property is under contract, actual settlement figures from the closing professionals become much more precise.
Before Deciding
Before deciding:
Can I afford to sell?
Can I buy the next house?
Can I retire?
Can I relocate?
Can I pay off this debt?
Start with estimated net.
Because equity on paper is nice.
Spendable proceeds are what actually move your life forward.
For the value side of the equation, start with What Is My Las Vegas Home Really Worth?.
Want to Know What the Records Say About Your Property?
Request a free Property DNA report. Property DNA can include available property, ownership/history, mortgage-related, comparable, neighborhood, school, risk, public-record and other property information depending on available sources.
Current typical turnaround is approximately 40 minutes during normal business hours, and many reports are returned within one hour or the same business day, but turnaround is not guaranteed and can vary.
Property DNA is free through Lisa. Request a free Property DNA report.
Important
Property DNA uses third-party, public-record and other available data believed reliable but not guaranteed. It is provided for informational purposes and is not an appraisal, title search, title commitment, title insurance policy, inspection, survey, legal opinion, tax opinion, environmental report or guarantee of value.
